Prime Video’s streaming surge.
Mumbai: In 2024, Amazon’s Prime Video made remarkable strides in the U.S. streaming market, securing the second spot among SVOD platforms by Q4. According to Parrot Analytics, it captured 16.7% of total content demand, a significant jump from 13.3% in Q1, when it ranked fourth. This surge allowed Prime Video to surpass Max and Hulu, positioning it just behind Netflix.
A key driver of this growth was the soaring demand for Prime Video’s movie catalogue. By the fourth quarter, it overtook Netflix to claim the title of the most in-demand movie library in the U.S., expanding its share from 6.8% in Q1 to 10.7% in Q4.
Several factors fuelled this success. Prime Video already boasted the largest movie catalogue on any streaming platform before 2024, and it expanded by an impressive 71.7% between Q1 and Q4—far outpacing Peacock, which had the second-highest growth at 17.8%. This aggressive expansion strategy could be tied to Amazon’s preparations for the end of its Universal live-action film deal in 2027, which will see those films shift to Netflix.
Beyond sheer volume, Prime Video strengthened its lineup with original productions like The Idea of You and Road House (2024) while also securing high-profile licensed titles. The platform further benefited from the resurgence of older films due to upcoming sequels—Terrifier and Terrifier 2 saw a surge in demand following the announcement of Terrifier 3, while Gladiator gained renewed interest ahead of Gladiator II.
Movies have become a cornerstone of Prime Video’s strategy. Over the first three quarters of 2024, films contributed 36.3% of the platform’s streaming subscriber revenue, according to Parrot Analytics Streaming Economics—a share second only to Peacock in the U.S. market.
This is particularly striking given that TV series typically dominate retention strategies due to their longer watch times. Yet, Prime Video has successfully leveraged its movie catalogue to drive both demand and revenue, reinforcing its distinct position in the competitive streaming landscape.