It’s been a horrible, no good, very bad week for Netflix, starting with the announcement that the company lost subscribers in the first quarter of 2022 — the first time that had happened in a decade — to the devastating stock implications thereafter.

Well, a new report from Sensor Tower isn’t going to make things much better for the streaming giant as their latest User Intelligence data analysis indicates that Netflix is losing market share when it comes to subscription video-on-demand (SVOD) app usage.

While the world’s largest streamer still leads the competition with 39% of market share, its competitors are quickly closing the gap. Disney’s two streamers Hulu and Disney+ are eating away at Netflix’s share of the streaming app landscape, which was as high as 60% just four years ago.

In Q1 2022, Hulu came in at 18% of market share and Disney+ was at 17%. HBO Max was at 10% with [Amazon Prime Video] rounded out the top five with 6%.

While HBO Max might have been fourth in terms of the streaming app market last quarter, they did lead the way in U.S. downloads, accounting for 21% of total domestic installs. The app has risen steadily in the less than two years since its launch in Q2 2020. The unique, original content on the streaming service led to increased downloads last quarter, especially around the premiere of the second season of teen drama “Euphoria.”

Euphoria

June 16, 2019

A group of high school students navigate love and friendships in a world of drugs, sex, trauma, and social media.

HBO Max and Disney+ — the latter of which was second to HBO Max last quarter with 17% of downloads — were both bolstered by the presence of recent blockbuster movies on the platforms. For HBO Max, it was things like “Godzilla vs. Kong” and “Zack Snyder’s Justice League,” while for Disney+ it was family-friendly fare “Encanto” and “Turning Red.”

Despite the continued penetration of these two relatively new services, established market leaderNetflix still saw a sizeable number of downloads, accounting for 15% of the U.S. SVOD app installs in the first quarter of 2022. Additionally, Peacock, Hulu, and Amazon Prime Video also had at least 10% of downloads.

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Netflix

Netflix is a leading subscription-based video streaming service that offers on-demand access to an extensive library of over 3,000 movies, 2,000+ TV shows, and a growing collection of acclaimed Netflix originals. Renowned for producing groundbreaking content, Netflix has become a cultural powerhouse with hit originals like “Stranger Things,” “Wednesday,” “Squid Game,” “The Crown,” “Tiger King,” “Bridgerton,” “The Witcher,” and “Black Mirror.”

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The platform constantly updates its catalog, introducing fresh content alongside timeless classics and international hits. Netflix’s commitment to storytelling has also earned critical acclaim, with award-winning exclusives such as “Roma,” “Marriage Story,” “The Power of the Dog,” “Mank,” and “Ma Rainey’s Black Bottom.” In 2023, their animated film “Guillermo del Toro’s Pinocchio” won an Academy Award for Best Animated Feature, further solidifying Netflix’s reputation for high-quality content.

Recently, Netflix has expanded beyond standard movies and TV titles with the addition of video podcasts, and is also exploring a digital store that would offer third-party streamers within the app.

Netflix offers three plans – stream on 2 devices in HD with the “Standard with Ads” ($8.99) plan, on 2 devices in HD with the “Standard” ($19.99) plan, and 4 devices in up to 4K on the “Premium” ($26.99) plan.

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