According to Nielsen’s latest Gauge report, December 2024 shattered streaming milestones, with Netflix leading the way. The platform broke its own subscriber growth record, while streaming overall captured a 43.4% share of total TV watch time during a blockbuster holiday season.
TV viewing rose 4% compared to November, surpassing 100 billion viewing minutes on four separate days, including Thanksgiving and Christmas. In total, 2024 recorded nine days with over 100 billion minutes of TV viewing, compared to 13 in 2023. High-profile events like NFL games and the Macy’s Thanksgiving Day Parade dominated traditional TV, but streaming platforms saw unprecedented engagement driven by exclusive releases and live events.
Netflix closed out the year on a high note, adding 19 million new subscribers in Q4, the largest quarterly increase in its history. This surge propelled the platform past the 300 million subscriber milestone, a testament to its successful year-end content strategy. Co-CEO Greg Peters highlighted the platform’s evolving priorities, stating that Netflix is shifting its focus from sheer subscriber growth to deeper content engagement and retention metrics.
Netflix Breaks Records: Subscriber Growth and Engagement
Overall TV viewing rose by 4% until November, surpassing 100 billion viewing minutes on four separate days, including Thanksgiving and Christmas. In total, 2024 recorded nine days with over 100 billion minutes of TV viewing, compared to 13 in 2023. High-profile events like NFL games and the Macy’s Thanksgiving Day Parade dominated traditional TV, but streaming platforms saw unprecedented engagement driven by exclusive releases and live events.
Netflix closed the year on a high note, adding 19 million new subscribers in Q4, the largest quarterly increase in its history. This surge propelled the platform past the 300 million subscriber milestone, a testament to its successful year-end content strategy. Co-CEO Greg Peters highlighted the platform’s evolving priorities, stating that Netflix is shifting its focus from sheer subscriber growth to deeper content engagement and retention metrics.
Unprecedented Streaming Momentum Across Platforms
The momentum wasn’t limited to Netflix. Streaming platforms collectively reached new heights in December, with viewership climbing 9% month-over-month and capturing 43.4% of total TV watch time—a record for the medium. Noteworthy platform achievements included:
- YouTube: Increased viewership by 7%, securing a record 11.1% share of TV usage.
- Prime Video: Achieved a platform-best 4.0% share, bolstered by five NFL Thursday Night Football games, the blockbuster Red One (5.6 billion viewing minutes), and Beast Games by Jimmy “MrBeast” Donaldson, which garnered 700 million viewing minutes across three episodes.
- Max: Posted an 18% monthly viewership increase, driven by popular shows like The Big Bang Theory and Friends, alongside the newly released Dune Prophecy.
A Transformative Year for Streaming
As 2024 came to a close, the streaming industry celebrated significant milestones. Netflix’s record-breaking subscriber growth and the overall expansion of streaming’s share in TV viewing emphasized the medium’s dominance in modern entertainment. With platforms competing fiercely for audience attention, 2025 will challenge them to sustain this momentum through compelling content, innovative strategies, and careful navigation of an increasingly competitive landscape.
Looking Ahead: 2025’s Streaming Evolution
As platforms prepare for an even more competitive year, strategies around content, engagement, and innovation will define success. On February 13, The Streaming Wars’ upcoming webinar, “The Audience Equation: Winning Viewers and Value in 2025,” will explore 2025’s key trends and actionable strategies. The session will feature insights from Looper Insights, Plex, and industry leaders and will unpack the critical trends shaping digital entertainment. Register now to secure your spot!
