New data from Parks Associates reveals that Amazon’s Prime Video has held its position as the top subscription video-on-demand (SVOD) service in the U.S. for the third consecutive year, outpacing industry giants like Netflix and Disney+. Unlike Netflix, which boasts a subscriber base of 283 million globally and a recent profitability of $2.4 billion, Prime Video does not disclose subscriber counts or financial performance specifics. Nonetheless, its dominance in the U.S. is attributed largely to Amazon’s integration of live sports and e-commerce benefits with Prime membership.
Parks Associates’ latest Streaming Video Tracker shows that 88% of U.S. households now subscribe to a streaming service, with a growing preference for ad-based models, as 42% of households have opted into ad-supported streaming. This shift in viewer behavior amplifies the competition between subscription-based and ad-based streaming options, pressuring SVOD services to differentiate through exclusive content and features.
The 2024 rankings reveal Disney+ in third place, pushing Hulu to fourth place. Peacock made significant strides to reach the top five, surpassing both Max and Paramount+. YouTube Premium maintained its foothold in the top 10 at tenth place, rounding out the list.
This reshuffling highlights the industry’s rapid evolution driven by rebranding efforts, consolidation, and strategic partnerships. Notably, once a Top 10 player, Showtime has exited the standalone SVOD list and now operates as a premium add-on to Paramount+, further underscoring the shift toward bundled content offerings. Parks Associates’ VP of research, Jennifer Kent, anticipates this trend will continue, with premium content increasingly leveraged to create differentiated subscription tiers or as part of bundled packages, allowing consumers greater flexibility in customizing their viewing options.
