Prime Video Overtakes Netflix as the Most In-Demand Movie Library in the US | Charts

In 2024, Amazon’s Prime Video experienced significant growth in the U.S. streaming market. By the fourth quarter, it became the second most in-demand SVOD platform, capturing 16.7% of the total demand for content on SVOD platforms, according to Parrot Analytics. This is an impressive rise from the first quarter, where it held 13.3% and ranked fourth.

This advancement allowed Prime Video to surpass competitors like Max and Hulu, positioning it just behind Netflix. A key driver of this growth was the increased demand for Prime Video’s movie catalog. Notably, it overtook Netflix to become the most in-demand movie library in the U.S., growing its share from 6.8% in Q1 to 10.7% in Q4.

Several factors contributed to this success. Prime Video already boasted the largest catalog of movies available on platform before 2024, and it expanded further by 71.7% between the first and fourth quarters (not including titles available for rent or purchase). This expansion far outpaced the second-largest catalog growth, Peacock, which saw a 17.8% increase. Perhaps Amazon emphasized library size as its output deal for Universal’s live-action films will end in 2027 with those movies being rerouted to Netflix.

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Beyond sheer volume, Prime Video invested in original productions, releasing films like “The Idea of You” and “Road House (2024).” The platform also secured licensing for popular movies, enhancing its appeal. Additionally, sequels and follow-ups boosted interest in earlier titles; for instance, “Terrifier” and  “Terrifier 2” were two of the most in-demand movies on Amazon in the second half of the year following the release of “Terrifier 3,”along with “Gladiator” with the anticipation of “Gladiator II.”

Movies have become a central component of Amazon Prime Video’s strategy. Over the first three quarters of 2024, films contributed to generating 36.3% of the platform’s streaming subscriber revenue during that period, as reported by Parrot Analytics Streaming Economics, a share that’s lower only than Peacock’s in the US market.

This contribution share from movies is particularly noteworthy given that TV series typically offer more hours of content on streaming platforms, and therefore boast a greater capability to retain subscribers. This approach underscores Amazon Prime Video’s unique positioning in the streaming market, effectively leveraging its movie offerings to drive significant subscriber revenue.

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