Even after limiting password sharing, Netflix remained the “leader in the streaming service market” after 2023, according to Forbes,
At the end of the year, the service had amassed 260.28 million global subscribers, marking a year growth of nearly 13%, per Forbes.
However, as the first quarter of 2024 comes to an end, JustWatch, a streaming guide for movies, TV shows and sports, reports that Amazon Prime Video is currently ranked the highest among its subscribers in the United States out of all other streaming services.
Among market share of JustWatch users, 22% favored Prime Video, slightly edging out Netflix’s 21% who preferred Netflix, per JustWatch.
The report was compiled based on “JustWatch users in the (United States) selecting their streaming services, clicking out to streaming offers and marking titles as seen,” according to JustWatch.
Market Shares for other streaming services were:
- Max – 14%.
- Disney+ – 11%.
- Hulu – 10%.
- Paramount+ – 8%.
- Apple TV+ – 8%.
- Other services – 6%.
In a 2021 letter to shareholders, Andrew Jassy, CEO at Amazon, said Amazon Prime does not report its exact number of subscribers, but the company had over 200 million Prime customers worldwide. Forbes reports a similar number for Prime subscribers (200 million) worldwide.
Within the U.S. in 2023, Amazon Prime had 167 million users with a video account, per Statista.
Is Amazon Prime Video profitable?
Individuals who pay for an Amazon Prime membership receive Prime Video as well, per Amazon. Without directly reporting the revenue of Prime Video, in the Q4 2023 Earnings Call, Jassy said, “We have increasing conviction that Prime Video can be a large and profitable business on its own.”