With the holiday season upon us and the close of 2024 just a few weeks away, Antenna is doing something a little different this time around. In place of our usual quarterly State of Subscriptions report, we’re ending the year with a look back at some of the top data-driven insights in the video streaming industry from 2024 and will be highlighting these over the next two weeks here on the Antenna Insights Blog.
First up: New Subscribers.
While the pace has moderated, millions of consumers each quarter are still “finding” Premium SVOD services for the first time. Antenna observed an average of 3.5M New Subscribers entering the market through the first three quarters of 2024, compared to 4.3M in FY 2023 and 4.8M in FY 2022.
Antenna has observed Netflix as the most popular first service for these new subscribers, capturing 23% share of New Subscribers First Premium SVOD Gross Adds through the first three quarters of 2024. Netflix was also the most popular first destination in 2023, capturing 19% of first-time consumers entering the video streaming category. The Netflix password crackdown began in May 2023, and likely provided a tailwind here, as many consumers were nudged into paying for the service they had previously “borrowed”.
Interestingly, while Antenna observed Netflix capturing 23% share of New Subscribers First Premium SVOD Gross Adds in 2024, it has captured just 13% of total category Gross Adds.
For more detailed information on Antenna’s methodology and definitions of core metrics, please visit http://www.antenna.live/methodology.
Brendan Brady is a Content Strategy Associate at Antenna, a measurement and analytics company providing insight into purchase behavior and subscription metrics across the new media landscape.
