Netflix Inc. NFLX, which for years held the top position in the video streaming industry, has been slowly losing its appeal as competition breathes down its neck.
The Los Gatos, California-based entertainment company, which touts "Stranger Things" and "Squid Game" among its popular offerings, ranks fourth among streaming platforms, according to Statista, citing a survey by Whip Media.
HBO Max, Disney+ and Hulu rank among the top three preferred platforms.
The results are based on a survey of 2,460 TV Time app users, ages 13-54 years, in the U.S. conducted between April 29 and May 4.
Netflix Under Threat: About 80% of subscribers are satisfied with Netflix’s platform. This, however, was down 10 percentage points from the numbers for the same period in 2021. Netflix has had a rough start to the year. After losing 200,000 net paid adds in the first quarter, the company said earlier this week it lost an incremental 970,000 net paid adds in the second quarter.
Following the first-quarter disappointment, Netflix announced measures, including crackdown on password sharing and the introduction of an ad-supported tier, to stem the rot.
HBO Max Rules The Roost: HBO Max, which is now owned by Warner Bros. Discovery, Inc. WBD, has the most satisfied customers. About 94% of subscribers are happy with the service, up 2 points from last year.
Warner Bros. Discovery also owns Discovery+, which was ranked last among the biggies. Only 72% of the subscribers are satisfied with the service, unchanged from last year. Rumors point to a merger between the two subscription-video-on-demand services.
How Rest Are Positioned: Satisfaction with Walt Disney Co.’s DIS Disney+ service remained unchanged at 88%. Disney-owned Hulu saw a 2 percent point slippage to 87%.
Only about 79% of Paramount Global’s PARA Paramount+ subscribers expressed satisfaction with the service. This represented a 4-percentage-point increase.
Satisfaction of subscribers to Apple Inc.’s AAPL Apple TV+ increased the most, jumping 14 percentage points from last year to 76%. About 72% of Amazon.com Inc. AMZN Prime subscribers expressed satisfaction with the service. This marked a 3-percentage-point decline from last year.
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