May 6, 2021
Paramount+ content (9%), including such original series as “Star Trek: Picard,” is in a close race with HBO Max (10%) and Peacock (8%) in demand share, according to year-to-date data from Parrot Analytics released as the streamer’s parent, ViacomCBS, reported financials.
Parrot’s proprietary metric called Demand Expressions measures demand for TV content in a given market through a wide variety of data sources, including video streaming, social media activity, photo sharing, blogging, commenting on fan and critic rating platforms, and downloading and streaming via peer-to-peer protocols and file sharing sites.
Rebranding to Paramount+ has not yet changed CBS All Access’ standing as a medium-sized player in the United States SVOD market, according to Parrot data. The rebrand to Paramount+ in March 2021 did grant a modest boost in demand to the platform, but the relative growth in other SVODs at the same time meant this held the demand share steady rather than leading to an increase in absolute terms.
The Paramount+ U.S. SVOD demand share of around 9% is fairly stable month-by-month, according to Parrot.
Year to date, the full Netflix catalog of original and licensed series accounts for around 20% of U.S. demand for SVOD services. Netflix consistently has the highest demand share for SVOD original series in the United States, typically around 40% to 50%, according to Parrot. However, the ongoing loss of licensed content to competitors reclaiming content for their own services may explain the downward trend for the overall Netflix demand share, Parrot noted.
The large amount of highly in-demand library/licensed content available on the Hulu platform leads it to have the largest slice of demand for SVOD services in 2021 so far. Disney’s majority ownership of Hulu combined with the market’s appetite for the much newer Disney+ service means the company is the largest entity in the U.S. SVOD market, based on audience demand.
Apple TV+ typically has around 4% to 5% of the demand share for U.S. digital original series, but their originals-only strategy leads to less than 1% share of demand of the overall U.S. SVOD market.
The HBO Max streaming service seems to occupy the same niche as the HBO cable channel, with a smaller number of highly demanded premium series, according to Parrot. This now includes tentpole superhero original series from the DC Universe service, which merged into HBO Max early in 2021. This strategy has secured a 10% demand share, placing it just ahead of Paramount+ so far this year, according to Parrot.
“The market is continually changing as new services launch, with many recent SVODs concentrating on specialist niches,” reported Parrot. “This increase in competition can be seen in the growth of demand for the ‘Other’ category over time.”