Apple TV+ had been slowly gaining market share since its launch in 2019, while platforms like Netflix continue to lose subscribers to smaller streaming services. But the latest research from JustWatch shows that Apple TV+’s global market share shrank last year, which resulted in the platform being overtaken by its competitor Paramount+.
Apple TV+ loses market share to other streaming platforms
In this research seen by 9to5Mac, data from JustWatch shows that Apple TV+ had a peak in subscriber numbers around March 2022. At the time, Apple Original shows WeCrashed and Pachinko had just premiered on the streaming platform. However, in the months to follow, Apple TV+ was overtaken by Paramount+, which ended 2022 with 7% of the global streaming market share.
For those unfamiliar, Paramount+ was first launched as CBS All Access, but then was rebranded in 2019 following the merging of CBS and Viacom. It features content from Paramount Pictures, Comedy Central, MTV, Nickelodeon, and others. Apple TV+, on the other hand, only provides Apple original shows, movies, and documentaries.
Apple TV+’s global market share has dropped from 6% to 5% based on the previous JustWatch research with data from August 2022. The same research showed HBO Max with 7% market share, but the platform now accounts for 9% of the market share. Netflix is still on top, although it continues to lose subscribers to other platforms.
You can check the full ranking below:
- Netflix (23%)
- Amazon Prime Video (20%)
- Disney+ (18%)
- HBO Max (9%)
- Paramount+ (7%)
- Apple TV+ (5%)
- Others (21%)
9to5Mac’s Take
One thing to keep in mind is that a market share decline doesn’t necessarily mean that the platform has lost subscribers. If other platforms grow faster than others, they’ll gain more market share even if the others are not losing subscribers. But of course, the data show that Apple TV+ still faces challenges and has a long way ahead to catch up with more popular platforms like Disney+.
Apple TV+ was launched with a small catalog of original movies and shows. Since then, the catalog has grown considerably, but is still smaller than the one of other platforms like Amazon Prime Video and Netflix, as both offer both original and licensed content.
Currently, the Apple TV+ subscription costs $6.99 per month in the US, but the service also comes included as part of the Apple One bundle.
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