The competition between streaming services has heated up in recent years with the rise of Disney+, Apple TV, Paramount+ and more.
Now, according to data from JustWatch, industry pioneer Netflix is no longer the Subscription Video on Demand (SVOD) market leader as of Q4 2022.
Prime Video came in as the No. 1 streaming service, with only a 1% lead over Netflix, which came in at No. 2.
Disney+ came in third, slightly ahead of HBO Max. Apple TV and Paramount+ were both tied at the bottom at 6% of viewers each.
Netflix’s fall from the top began in early 2022, with shares down nearly 10% over the past year. Increasing competition and a record number of users canceling their subscriptions have contributed to the streaming service’s decline.
Related: What’s Up With Netflix? Everything you need to know about the company’s massive fall
In terms of market share, Netflix experienced a downward trend throughout 2022, while Prime Video excelled in the latter half of the year, according to the data.
Apple TV and Paramount+ also each saw market share growth, with +1% and +3% increases respectively.
