CTV Report
Premium SVOD Subscriptions Increased by 10.4% in 2024
by Frankie Karrer2 min read
Abstract
- Premium SVOD subscriptions in the U.S. increased by 10.4% in 2024, reaching just over 260 million, up from 26.5 million the previous year.
- Netflix holds the largest share of U.S. SVOD subscriptions at 26% (about 67.5 million subscribers), while Hulu and Paramount+ each account for 14% of the market.
- Total new streaming signups in 2024 outpaced cancellations, with 173.3 million additions versus 147.8 million cancellations.
- A majority of consumers are opting for ad-supported tiers when available, with ad-supported subscriptions rising to 45% of all streaming sign-ups, up from 36% in 2023.
New research reveals data that might sound like a broken record: Streaming is continuing to grow, with U.S. premium SVOD subscriptions rising 10.4% in 2024, surpassing 260 million. Netflix remains the market leader with 26% share (67.5 million subscribers), followed by Hulu and Paramount+ at 14% (36.4 million each) and Disney+ and Peacock at 13% (33.8 million) and 11% (28.6 million), respectively. And while cancellations did increase by 15.8% year-over-year, overall subscriber counts remained strong. By the end of 2024, falling churn rates stabilized around 5% — showing that while people may switch services, they aren’t leaving streaming behind forever.
Part of the reason for all that turmoil? Rising prices. The average ad-free plan now costs $14 per month, up from $11, while ad-supported plans rose to $7.50 from $6.00. As a result, more consumers are opting for those ad-supported tiers, with adoption rising from 36% to 45%. Bundling is also proving effective at retaining subscribers. The Disney+ / Max bundle holds an 80% retention rate, while the Disney Bundle (Disney+, Hulu, ESPN+) sits at 73%. These trends highlight that while consumer habits evolve, Connected TV remains a dominant and growing part of the entertainment landscape.
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