2024 was a banner 12 months for Amazon’s Prime Video within the U.S market. The service went from fourth place in complete demand for content material throughout SVOD platforms within the first quarter, to second place within the fourth quarter, per Parrot Analytics (through TheWrap). It sits behind the streaming chief, Netflix. And a giant motive for his or her success is their big movie library (extra about that in a second).
Based on the numbers, Prime Video’s share went from 13.3% of complete demand to 16.7%, and it leapfrogged over Max and Hulu. Not solely that, nevertheless it beat Netflix with probably the most in-demand movie library in the US, going from 6.8% in Q1 to a scorching 10.7% in This fall.
Moreover, Prime Video expanded its film library by a large 71.7% between Q1 and This fall. Throughout that very same time period, second place Netflix noticed destructive development of -2%, third place Peacock went up 17.8%, fourth place Hulu fell -8.6%, and fifth place Max dropped -20.9%. Rounding out sixth and seventh place within the measurement of the movie catalog of U.S. SVOD platforms are Paramount+ at 5.7% development and Disney+ at 3.4% development of their film libraries.
Movies Are an Vital A part of Prime Video’s Streaming Technique
Previous to 2024, Prime Video had the most important film catalog among the many streaming platforms, and it grew by over 70% final 12 months. Nevertheless, that doesn’t embody movies which can be for buy or hire. From Q1 to Q3 2024, that movie library represented 36.3% of income from streaming subscribers (second solely to Peacock). Parrot Analytics factors out that sequence generate much more streaming hours than films, so that is important for Prime Video. Though, it’s dwelling to The Boys, Bosch, Invincible, and others.
It must also be famous that Prime Video does have a take care of Common the place live-action movies can be added to the library, though that deal ends in 2027 (and Netflix is the beneficiary). It stays to be seen how that can have an effect on the streaming big’s total place.
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The crucial and viewers darling would not get talked about as a lot because it ought to.
Prime Video additionally has loads of authentic movies which have led to its success, with Parrot Analytics mentioning the favored Highway Home remake with Jake Gyllenhaal as an excellent instance (the sequel will solely assist additional).
Plus, the streamer’s a number of licensing offers to herald common films additionally paid off. The analytics firm revealed that two of probably the most in-demand movies final 12 months had been Terrifier and Terrifier II, thanks partly to the debut of the third movie. Gladiator additionally did effectively main as much as the discharge of the long-awaited sequel. It is clearly an amazing technique to place movies to observe when sequels are in theaters.
Even with their Common deal ending in 2027, Prime Video nonetheless has some unbelievable offers with studios. Simply days in the past, it signed an settlement with Lionsgate, bringing main franchises to the platform. John Wick, Starvation Video games, Now You See Me, and others can be streaming for Prime Video subscribers. It is a win-win for each firms, as Lionsgate had a tricky 12 months in 2024 with costly field workplace bombs, like online game adaptation Borderlands and The Crow remake.
