The US streaming landscape is undergoing a major shakeup, according to the latest Q2 2026 market report released by streaming guide JustWatch.
Analyzing over 45 million user interactions on its platform between April and June, the study highlights a massive surge for Apple TV+ and a reshuffling among the industry’s top contenders.
Apple TV+ Charges Ahead, Hulu Overtakes HBO Max
The biggest story of the quarter belongs to Apple TV+. The platform secured a 1% quarterly gain to reach a 13% market share, officially overtaking both Hulu and HBO Max to become the fourth-largest subscription video-on-demand (SVOD) service in the United States. More impressively, Apple TV+ captured a whopping 5% annual growth compared to Q2 2025—the strongest year-over-year gain of any platform in the market.
Meanwhile, a fierce battle for fifth place saw Hulu edge ahead of HBO Max for the first time this year. While Hulu held steady at 11%, HBO Max suffered the largest quarterly hit of the period, dropping 2% to land at 10% market share.
Netflix Strengthens Its Crown as Prime Video Slips
At the very top of the hierarchy, Netflix managed to widen its lead over its closest rival. Gaining 1% this quarter to command a 20% total market share, Netflix established a comfortable three-point cushion over Amazon Prime Video. While Prime Video held onto the #2 spot with 17% market share, its long-term trajectory raises questions, showing a sharp 4% decline year-over-year. Disney+ maintains a firm grip on third place at 15%, despite a slight 1% dip over the last three months.
The Mid-Tier Landscape: Winners and Losers
Further down the rankings, Peacock Premium continues its slow and steady climb. Holding flat this quarter at 4%, Comcast’s streaming arm is up 2% annually, proving its steady baseline appeal. Conversely, Paramount+ is feeling the squeeze; despite holding steady at 3% this quarter, it tied with Prime Video for the steepest annual decline, plummeting 4% since this time last year.
Rounding out the streaming market, PBS (2%), Starz (1%), and smaller niche platforms grouped under “Others” (4%) all maintained stable, unchanging shares both quarterly and annually.
US SVOD Market Share Standings (Q2 2026):
As premium streaming platforms battle escalating production costs and viewer fatigue, audience engagement data shows that consumer interest is shifting rapidly. Apple TV+’s premium library strategy appears to be paying off massively, while legacy giants like Prime Video and Paramount+ face uphill battles to retain their historical market dominance heading into the back half of 2026.
