Major U.S. streaming services have seen rapid growth in their catalogs over the past two years, with Amazon leading the way. Netflix’s movie catalog grew from 3,766 to 3,977, Hulu’s from 916 to 2,419, Max’s from 1,932 to 2,168, Disney’s from 742 to 1,400, Paramount’s from 642 to 830, and Apple TV Plus from 17 to 69.
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Streaming revenue increased 4% in Q3 2023, reaching $66B. Netflix led at 51%, with domestic avg. rev./subscriber at $10.68/mo. Growth is projected to rise to $76.9B in 2024 and $85.7B in 2025, though subs. growth will slow to 5%. Peacock gained 17% in Q3 while 70% of net adds are from international markets.
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Global streaming revenues are estimated to grow 14% in 2023, but the rate is decreasing. Netflix dominates with 51% of D2C revenue and highest ARPU ($16.29/month). Max is second ($14/month), Hulu third ($12.11/month). Domestic ARPU is expected to rise 0.3-8.8%, due to subscription fees and better ad delivery, by 2024.
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Viewing of broadcast and cable networks increased in October due to higher sports viewership. Cable rose 0.9% with a 19% increase in sports, and 17% in news. Streaming was down 0.6%, with a 5.6% decrease in Netflix usage. NFL, World Series, and Suits were the top programs while streaming services such as YouTube, Netflix, Amazon, Hulu, and Disney+ saw no change from Sept.
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LG Electronics USA has announced ESPN App with ESPN+ is now available for 2020 & newer LG Smart TVs. Offers 27,000+ live events, on-demand replays, premium articles and Disney Bundle Trio with access to Disney+, Hulu & ESPN+. Availability for 2018/2019 models coming soon.
Read MoreLG Smart TV owners now have easy access to ESPN with the ESPN App and streaming platform, ESPN+. The app offers 27,000 live sports events per year, plus an on-demand library and original content. Users can also subscribe to the Disney Bundle Trio of ESPN+, Disney+, and Hulu. Availability for 2018 & 2019 models coming soon.
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Netflix and Amazon Prime Video lead streaming services in average subscriber tenure at 55 and 50 months, respectively. Hulu has a notable 3-year tenure, while Starz, Paramount+, Disney+, Max and Apple TV+ last slightly under 2 years. Peacock is the shortest, averaging 1 year. Consolidation may affect churn rate, but its effect is limited.
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Live TV streaming services are becoming increasingly popular. YouTube TV saw 600,000 new customers in Q3 2023, on track to become the 4th largest service in the US. Fubo had 310,000 new subscribers, and Hulu + Live TV and Sling TV gained additional customers. Cable numbers decreased by 465,761.
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Evaluate streaming subscriptions and only pay for what you watch. Look out for discounts with phone plans and don’t keep services if you’re not using them. Unsubscribe and resubscribe as needed.
Read MoreLocal TV stations form group to get FCC to reclassify YouTube TV and Hulu as cable providers, raising user prices to increase affiliate revenues. Fate remains in the hands of the FCC.
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Disney and Hulu are combining forces to create a powerful streaming platform that could surpass Netflix. Potential challenges such as merging the services and creating profits by 2024 need to be managed carefully. Disney+ and Hulu have the resources needed to succeed in this endeavor.
Read MoreDisney is seeking to acquire Hulu by the end of 2020 to increase its streaming presence and profitability before 2024. Investors are applying pressure and Disney must quickly integrate its platforms across OTTs in order to see maximum profits before the end of 2021. The takeover could expand ad revenues for Disney and allow them to outcompete Netflix, but full benefits may take time due to the difficulty of merging businesses.
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