This Streaming Service Beat Netflix as the No. 1 One Market Leader in the U.S.
As of Q4 2022, industry pioneer Netflix is not longer at the top.
The competition between streaming services has heated up over the past few years with the emergence of Disney+, Apple TV, Paramount+, and more.
Now, according to data from JustWatch, industry pioneer Netflix is no longer the Subscription Video on Demand (SVOD) market leader as of Q4 2022.
Prime Video came in as the No. 1 streaming service, holding only a 1% lead from Netflix, which came in at No. 2.
Disney+ came in third, holding a slight lead from HBO Max. Apple TV and Paramount+ were both tied at the bottom at 6% of viewership each.
Netflix's fall from the top started early in 2022, with stocks dropping nearly 10% over the past year. Rising competition and a record number of users axing their subscriptions have contributed to the streaming service's decline.
Related: What's Going on With Netflix? Everything You Need to Know About the Company's Massive Fall
As far as market share, Netflix experienced a downward trend throughout 2022, while Prime Video excelled during the latter half of the year, according to the data.
Apple TV and Paramount+ also each saw market share growth, with +1% and +3% rises, respectively.
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