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US SVOD Subscriber Deep Dive 2019

Tim Mulligan
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The 20,000 Foot View:  In the build-up to the Disney+ launch in November 2019, the US market is dominated by the big five of Netflix (currently number one for paid subscriptions with            million), Amazon Prime Video, Hulu, HBO Now and CBS All Access. Hulu showed the most dramatic growth, with a            increase in subscribers between            2018 and            2019. Growth was more modest but still in double digits for the remaining three over the same time period. Engagement however remained largely flat, such as Netflix’s weekly active users (WAUs) growing by only            over the same period, suggesting that peak attention is now directly impacting streaming video on demand (SVOD) in the US.

Key Findings

  • Netflix remains            dominant US SVOD service with            paid subscribers
  • Hulu was            fastest growing in absolute terms,                       million subscribers between            2018 and           
  • However HBO            had the fastest growth rate            subscriptions going up by            between            and            2019, adding            million in            alone
  •            of US video subscribers have more than one SVOD subscription – engagement is now more important a measure than subscriber count
  • HBO Now            the most weekly active users            during            2019, more than doubling                       from            2018
  • Hulu and            increased WAU rates the most            the longer term, both adding            percentage points between            2018 and           
  • The fact            Netflix lost three WAU percentage            between            2018 and            2018 before            in            2019 suggests that Hulu’s            was Netflix’s loss
  • Comedy is            most widely watched genre among            user bases of three of            five largest SVOD services in            US
  •            of Netflix paid subscribers are aged            and            of Netflix subscribers also subscribe to Amazon Prime Video            of Amazon Prime Video paid subscribers are aged            and            of total subscribers also subscribe to Netflix            of Hulu paid subscribers are aged            and            of Hulu subscribers also subscribe to Netflix
  • Hulu is            the best job of delivering            younger audiences, with            of its            aged under            compared to            for            and            for Amazon
  • Netflix is            most vulnerable to subscription substitution            a competitively-priced genuine full-stack direct            consumer            provider

Companies and brands mentioned in this report:  Amazon Prime Video, CBS All Access, HBO Now, Hulu, Netflix