Netflix is No Longer the Most In-Demand Streaming App in the US
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When you think of video streaming apps one comes to mind quickly and that’s Netflix, the OG streamer that made streaming by app exciting all the way back in the day, before HBO Go, which eventually became HBO Max and then just Max, even existed and way before Disney rolled out Disney+
And for a long time, Netflix was the most downloaded video streaming app in the world.
Well, not in the US...
We ranked the most downloaded and highest-earning video streaming apps in the 2024 Streaming App Industry Report- both in the world and in the US - and here are the results:
In the US, where the majority of the streaming business is concentrated, Max was the most downloaded app and also the highest-earning app. Our estimates show that Max made its way into 6.4M devices in the US and grossed an impressive $243M in Q1.
Max and Disney+ have been glued to the Top Grossing chart in the US, both in their category and overall, for years, but as of late Max has been the more dominant of the two.
Disney+ was the second highest-earning app in the US in Q1 shy roughly $13M (or 5%). Peacock, Hulu, and Paramount+ round out the top five highest-earners but none of the three crossed the $200M. There's lots of room to grow.
Chasing Max in terms of downloads were Netflix, Paramount+, Peacock, and Amazon Prime Video. A few repeats but generally a different list which shows just how important it is for streamers to turn downloads into paying users so they don't leave the platform. This set is a bit behind.
Globally, things are a bit different.
Netflix was the most downloaded streamer globally. The OG streamer may have weakened in the US but its global presence is still massive, and a good challenge for both Max and Disney+. Our estimates show it was downloaded a little over 39M times from the App Store and Google Play in Q1. Netflix wasn't the highest-earning app globally, however.
Disney+ was the highest-earning streamer globally. The happy mouse grossed $465M in Q1, according to our estimates. Max chased Disney+ and ended Q1 in second place, but was very far behind in terms of numbers with just $295M. And that's gross, which means it's what consumers spent and not what HBO gets to keep.
The total is just a tad higher than US revenue, which shows how amazing Disney's brand reach is.
Crunchyroll, Peacock, and Hulu round out the top five, and if you're thinking to yourself, "What's a niche anime streamer doing so up high???" you're not alone.
All three ended Q1 with fairly similar numbers, $145M, $146M, and $147M - not bad for a niche streamer and 2 US-only streamers.
Demand for Crunchyroll has grown substantially in the last few years. And when I say substantially I mean from just $14M back in Q1 of 2020. I expect to see more niche streamers growing this year.
But the real important question is can this momentum be sustained, and based on these trends the answer is "absolutely". Not only do I expect to see these streamers continue to grow but also niche streamers becoming more popular and related apps (AI-based movie recommenders, etc) jumping on this wave.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
