May 12, 2023
Amazon Prime Video overtakes Netflix as the top streaming service in the US
As of Q1 2023, Prime Video topped with a 21% market share. For Netflix it is merely a continuation of Netflix’s gradual decline: since 2020, the streaming pioneer has lost more than 13% of its market share.
Having a subscription video section of Amazon Prime makes people more likely to both become a paying Prime member and to renew their Prime subscription. "When we win a Golden Globe, it helps us sell more shoes." - Jeff Bezos famously said. Competitors are trying to use premium video to make money directly, Amazon doesn't have to sweat the margins.
Amazon is often associated with three pillars - the retail platform itself, Amazon Prime as the whole, and Amazon Web Services. Meantime we see that Prime Video goes up and leaves competitors behind - maybe it is time for Amazon Studios to become the fourth pillar of the entire business? Just think what could be achieved, if the retail giant moves his objective towards the streaming industry.
#StreamVX #SzymonKarbowski #streamingwars