Top 5 Netflix Competitors To Watch Out For In 2023
Sick Of Netflix? It's Time To Explore What Other Streaming Sites Have To Offer. Here Are The Top 5 Competitors Of Netflix You Should Definitely Have On Your Radar.
What is the last movie or web series you streamed? It can be anything from watching Friends (again)to any latest release. When we think of any streaming service, Netflix does come into our thoughts. It is one of the widely subscribed over-the-top streaming platforms. As of now, there are around 230 million Netflix subscribers across the globe. It is leading the market and is quite popular.
But, what about the other streaming platforms? What about the competitors of Netflix? In today’s digital world, you can browse tons of online streaming content over various platforms. Netflix may have been the pioneer but is not alone in this race!
In this article, I would like to highlight and compare the top 10 competitors of Netflix for the year 2023. These streaming platforms are gaining momentum, increasing their market cap, and are giving a tough fight to Netflix.
Let us go through these competitors and do a brief comparison.
But, first, let us check a brief history of Netflix and the current numbers for it.
Brief History Of Netflix
- Netflix was started by Reed Hastings and Marc Randolph in 1997.
- The company started with DVD content in its initial phase.
- They transitioned into online streaming in the year 2007
- The annual revenue for Netflix was around $29 Billion in the year 2021.
Netflix provides many film and television content creators to stream their projects using their platform. Moreover, Netflix also sponsors their own original projects on different genres and formats. Netflix has a huge catalog of streaming content in different languages, formats, and for all devices.
Competitors Of Netflix To Watch Out For In 2023
1. Amazon Prime Video
Amazon Prime Video is a video-on-demand over-the-top streaming platform run by Amazon.com Inc. It is one of the many subsidiaries under the parent company of Amazon Inc. Prime Video was launched in the year 2006 under the name of Amazon unbox.
Popularly called by the name of Prime Video, It can be considered the biggest competitor to Netflix in the current era.
Prime Video provides streaming content from its own production house (Amazon Studios) and MGM Holdings or licensed to Amazon, as Amazon Originals, and from other media houses. It provides the feature to either stream the content or rent it depending on availability.
- Current Subscribers: 200 Million
- Annual Revenue: $25.21 Billion
- Offical Website: primevideo.com
2. Disney+
Disney+ is the over-the-top streaming platform under the parent company of the Walt Disney Company. The entire streaming platform is run by the entertainment division of the Walt Disney Company.
Disney+ primarily distributes films and television series produced by The Walt Disney Studios and Walt Disney Television. It hosts dedicated content hubs for the brands Disney, Pixar, Marvel, Star Wars, and National Geographic too.
Disney Streaming Services is the Walt Disney company’s technical subsidiary that operates and handles the entire technical end of Disney+.
- Current Subscribers: 73.7 Million
- Annual Revenue: $7.4 Billion
- Official Website: Disney+
3. Hulu
It is another subscription streaming service that is making its mark in the space of over-the-top media. Surprisingly, it is majority-owned by The Walt Disney Company only. Adding to its ownership, Comcast’s NBCUniversal holds a minority stake as well.
Hulu was launched in October 2007. You can find a range of films and television series from 20th Century Studios, Searchlight Pictures, Disney Television Studios, ABC, Freeform, and FX Networks among others, as well as Hulu original programming.
Hulu provides two major services. One is the video-on-demand service covering all the films and television content. The other includes Hulu Live TV service where you can tune in to see many live channels as per your region.
- Current Subscribers: 47.2 Million
- Annual Revenue: $3.5 Billion
- Official Website: Hulu
4. HBO Max
One more streaming service from the United State Of America. HBO Max is a video-on-demand streaming service under the ownership of Warner Bros and Discovery. Warner Bros. and Discovery had a merger which they officially write as Warner Bros. Discover.
HBO Max was launched in May 2020 making it one of the most recent yet popular streaming services among others. You can find content owned by HBO, Warner Bros., Cartoon Network, and their related brands. HBO also streams content produced under their original production by the name of “Max Originals”
- Current Subscribers: 69.4 Million
- Annual Revenue: $6.8 Billion
- Official Website: HBO Max
5. YouTube TV
We all know YouTube as a video-sharing and streaming platform. YouTube is entirely free and we all very well enjoy it. YouTube started its own streaming service by the name of YouTube TV in 2017.
YouTube TV offers many live linear channel feeds and on-demand content from more than 100 television networks. You can even find content from affiliates like the Big Three broadcast networks (such as ABC, NBC, and CBS), Fox, The CW, and PBS in most markets and over 30 OTT-originated services, as well as a cloud-based DVR.
YouTube TV is supported on many devices such as smartphones, computers, mobile devices, smart TVs, game consoles, and streaming media players.
- Current Subscribers: 3 million
- Annual Revenue: $19.8 Billion
- Official Website: YouTube TV
A Brief Comparison Of All The Streaming Services
The following table represents the competitors of Netflix with data as of October 2022.
Key Insights from the above table
- YouTube TV is the second highest revenue-generating service even though having only a 3 million subscriber count.
- HBO Max Launched in 2020 has proved to be in the top 5 streaming services across the globe in a very short span.
- After YouTube TV – the other 3 competitors have a huge gap in their annual revenue numbers. YouTube TV is at $19.8 billion whereas Disney+ has only $7.4 billion despite being the third on the list. There is a huge gap of $12.4 billion
Some Other Honorable Mentions
The subscriber and annual revenue numbers are as of October 2022.
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