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Leichtman: 2023 U.S. Household SVOD Subscription Growth Flat
August 14, 2023
About 83% of all U.S. households have a subscription video-on-demand (SVOD) service from Netflix, Prime Video, and/or Hulu, unchanged from 2022, but up 5% from 78% in 2020, 69% in 2018, and 52% in 2015, according to new data from Leichtman Research Group. At the same time, the aforementioned services’ market percentage is declining.
Twelve additional streaming video services account for an incremental 5% of all households with at least one SVOD or streaming service beyond the top three. This brings the total to 88% of all households with a streaming video service — compared to 82% in 2020. And, 53% of all households have four or more services — compared to 33% in 2020.
These findings are based on a survey of 2,101 households nationwide and are part of a new LRG study, Emerging Video Services 2023.
Specifically, the mean number of SVOD/streaming services in all households is 4.1 — compared with 2.9 in 2020. The mean number of services among ages 18-44 is 5.1 — compared with 3.7 among ages 45-64, and 2.2 among ages 65+.
About 42% of all adults stream a top SVOD service daily — compared with 41% in 2021, 30% in 2018, and 16% in 2015. Consumers 18-44 account for 59% of adults using SVOD daily.
Another 57% of adults watch video on non-TV devices (including mobile phones, home computers, tablets) daily — compared with 54% in 2021, 46% in 2018, and 33% in 2015. About 81% of ages 18-34 watch video on non-TV devices daily — compared with 62% of ages 35-54, and 32% of ages 55+.
“As the streaming market has expanded and the total number of services in the home has increased, the top SVOD services’ market share has begun to wane,” analyst Bruce Leichtman said in a statement. “Of the 15 SVOD/streaming services in this survey, the three top now account for 43% of all streaming services in consumers’ homes, compared to 56% in 2020.”
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