A research note sourced from digital intelligence firm, Sensor Tower, and released by the Bank of America on Monday, 6th May, has revealed that video streaming services witnessed a drop in downloads and active users during April 2024,
Across all video streaming services, including industry giants like Netflix, Paramount, and Walt Disney, downloads and monthly active users (MAU) collectively declined by 4%, as stated in the note.
Here are the numbers provided by the research note:
- Netflix experienced a 6% decline in downloads and an 8% decrease in MAU.
- Disney saw a major decline, with downloads falling by 26% and MAU by 10%.
- However, Warner Bros Discovery witnessed both year-on-year and month-on-month growth, boasting approximately 11.8 million downloads and 48.6 million MAUs, according to the research firm.
Looking ahead, media companies are shifting their focus towards international expansion, investing in sports streaming ventures, and raising prices on their platforms in a bid to attract more subscribers.
The decline in the streaming market has prompted service providers to explore alternative strategies. This includes the introduction of ad-supported versions and crackdowns on password-sharing to maintain a competitive edge in the ongoing streaming wars sparked by Netflix.