Netflix has been losing ground for quite some time now, though it remained the top streaming platform for years. However, based on a new study by research firm, Park Associates, the data shows that Amazon Prime Video has now taken the #1 spot in subscriber numbers. Prime Video had been in second place next to Netflix since 2019 but has now compiled enough subscribers to take the top spot in the war of streaming services.
Parks Associates have not revealed what metric they used to compile the total numbers of subscribers, as Amazon Prime Video does not allow for such information to be used, but Parks is known to be one of the most reputable sources for accurate streaming service numbers. Using a tool called the OTT Video Market Tracker, the subscriber count has apparently been measured through September, and the data compiled stated Netflix is now the #2 highest-used streamer next to Amazon Prime Video. Prime did state they had 200 million subscribers last year, and some 100 million subscribers tuned in just to watch The Lord of the Rings: The Rings of Power.
While that 100 million subscribers number for the Lord of the Rings prequel series sounds farfetched, it also does make sense considering how believed the franchise is. The new prequel series was going against House of the Dragon, which also brought in a wealth of audience eyes, so it wouldn’t be out of the realm of possibility that Amazon Prime Video brought in a ton more audience just for the LotR. Netflix has also had plenty of issues that would make these metrics make sense as well.
Netflix has been steadily cutting programs, laying off employees, and just generally being in trouble for months now. Back in April, the streaming giant recorded its first loss in subscribers ever, with some 200,000 people leaving the platform behind. This led investors to sue the company after it had apparently lied about the money that was being made. This led to a severe drop in profits and stock prices.
However, Netflix has also since released its cheaper ad-based tier, which comes in at $6.99 per month. While this is the cheapest option available currently, there are some strong negatives that could ruin the streaming platform’s attempt to get out of trouble. The resolution is capped at 720p, around 10% of the library is not available in this tier, and of course, there are ads.
Netflix has been doing what it can to get itself out of a tough spot, so it would make sense that Amazon Prime Video is now the #1 streaming company currently. Amazon is also currently about to sign a new deal with Warner Bros. Television, which would bring in DC-branded content to be streamed on Amazon Prime Video. Should this deal go through, Amazon might become too big of a powerhouse for anyone to pass up.
Netflix had better do something fast before more people abandon the high-priced streaming app for good. There have also been rumors that Netflix could be getting into live sports, which would certainly go a long way in bolstering its subscriber numbers.