2024 was an important year of maturation for streaming video overall and the Premium SVOD category. The category continues to grow double digits – Antenna estimates 10.4% YoY growth for Premium SVOD.
While some of the headlines focused on reports of several top streamers becoming profitable for the first time, something important is happening: video streaming is settling into a more mature and sustainable growth model.
The biggest streamers are getting better at managing churn, the category’s biggest challenge for the past several years. Churn across the Premium SVOD category was down YoY in each of the final three months of 2024; it had been up for 19 of the previous 21 months.
Several other notable achievements for the category include:
- Subscriber Management: 25% of Cancelers resubscribe to the service within three months of canceling; when you factor in these resubscribes, category Average Monthly Churn is less than 3%.
- Price: Average Price Paid for ad-free plans rose 23% in the past two years to $13.88; ad-supported plans rose 25% to $7.57.
- Ad Plans: Ad-supported plans made up 57% of Gross Adds to the services that offer them. Retention to ad-supported plans is similar to ad-free plans.
- Distribution: Third-party distributors introduce services to new audiences. Over 1M consumers who had never tried Apple TV+ before signed up in the first three months it was available on Amazon Channels.
- Bundles: The Disney x Max bundle is a strong inter-company breakout. It accounted for over 1 in 5 Max Sign-ups in its first two quarters in market, and 80% of Subscribers are still subscribed three months later, 7 points higher than the Disney bundle and about 25% higher than the individual services.
For the first State of Subscriptions report of 2025, we’re taking a closer look at the Premium SVOD’ category in 2024 and these key developments.
If you’re interested in downloading your own copy of the full report, you can access it here. If you’re already on our distribution list, check your email - we’ve sent out a download link to everyone who has opted-in to receive communication from Antenna. If you’re an existing Antenna client, you have exclusive access to a client-only expanded version of the Q1’25 State of Subscriptions report.
For more detailed information on Antenna’s methodology and definitions of core metrics, please visit http://www.antenna.live/methodology.
