According to a new study, US consumers now spend an average of $47 a month on video subscription services. This is a 24% increase since the COVID-19 pandemic began.
This increase can be attributed to several new platforms that have become available including Disney +, HBO Max, and Peacock.
The survey by JD Powers ranks the streaming providers: Netflix (85%), Amazon Prime Video (65%), Hulu (56%). Disney + (47%), YouTube TV (20%), HBO Max (22%), Apple TV (14%), and Peacock (18%).
While Netflix remains the largest video stream provider, their market share decreased as their competition has made steady gains over the past year.
Experts warn of “streaming fatigue” could set in as restrictions are lifted and people have less time to consume content at home.
“The Mandalorian” available on Disney + was the most-watched streamed show in December 2020.