According to new data from JustWatch, Netflix became the leading SVOD platform in the United States in the final quarter of 2025.
The report is based on user engagement data from more than 20 million monthly JustWatch users in the United States, tracking actions such as adding titles to watchlists, marking them as seen, and clicking through to streaming services. The findings offer a snapshot of how competition among streaming platforms continues to intensify as audiences increasingly distribute their viewing across multiple services.
The streaming giant Netflix reached a 20% market share, narrowly overtaking Prime Video, which held 19%.
Although Netflix and Prime Video continued to dominate the U.S. streaming landscape throughout 2025, both platforms lost some ground to mid-tier competitors. On a year-over-year basis, Netflix’s market share declined by 1 percentage point, while Prime Video experienced a larger drop of 3 percentage points.
Among the biggest winners of 2025 were Disney+ and Apple TV+. Disney+ grew to 14% market share, while Apple TV+ climbed to 9%, with both platforms gaining two percentage points over the year. Disney+ also surpassed HBO Max earlier in the year to become the third-largest SVOD service in the United States.
HBO Max remained stable at 13%, while Hulu rose to 12%, marking a one-point increase. Apple TV+ also gained momentum in the fourth quarter, adding one percentage point and continuing to expand its presence among mainstream audiences.
Meanwhile, Paramount+ fell to 5%, representing one of the sharpest annual declines in the market with a four-point drop. Peacock Premium (2%) and Starz (1%) largely maintained stable positions throughout the year.
Netflix’s strong performance in the final quarter was supported by high-profile titles such as Frankenstein and Stranger Things, which ranked among the most popular entries in the JustWatch U.S. Streaming Charts. Other platforms also benefited from major hits, including Severance on Apple TV+ and The Last of Us on HBO Max, both of which drove significant engagement among viewers.
