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Streaming services have taken over the world of media in a forceful and definitive way. These platforms offer an alternative to traditional ways of consuming video content, one that is laden with many benefits. They boast massive catalogs of popular TV shows and movies and this variety is further buoyed by the fact that this huge array of selection is available on-demand at the convenience of the consumer. This burgeoning sector has even made room for new ways of watching, particularly the popular method of binge-watching entire shows at once. The market share that these services hold is large and appears to be on track to continue growing in the future as adoption continues to spread. These services create the way for the rise of a new generation of cable cutters, untethered by old-school ties to legacy modes of watching. And the disruptive effect of streaming services has not gone unnoticed, as more and more competitors hop into the pile ready to fight for views and clicks.
Disney+ New to the Game
Unfortunately, since the latest revenue figures available are from 2019, more recently launched juggernaut services like Disney Plus cannot be accurately included in the tally despite the surely considerable number of subscribers it has managed to pull in since its release.
Going off the available numbers, the largest video streaming service by revenue is by a clear margin, Netflix. In 2019, it generated over $20 billion USD in annual revenue, continuing the impressive year-on-year growth that the company has enjoyed over the course of the past few years.
Netflix itself is a public business originally founded in 1997. It serves a worldwide market, with a few exceptions in certain areas like China, Syria, North Korea, and Crimea. It has always operated in the world of entertainment and mass media but its method of conducting business has changed significantly over the years. Where it once shipped out DVDs for limited time rentals and sales, it now mainly focuses on its online streaming subscription service. In addition to providing online accessible content, Netflix has also taken to producing and distributing its own line of Netflix Original content to varying levels of success, releasing an estimated 126 original series and films in 2016 alone. It has taken on considerable debt to produce this variety of content and in its attempts to diversify its service across the 100s of countries it serves. These financial straits are not dire, however, as Netflix has a massive amount of subscribers, clocking in at 148 million worldwide subscriptions as of April 2019.
In the world of music streaming, Apple Music boasts the largest number of monthly users, with 44.5 million using the service in September of 2019, while Spotify follows it at 44.2 million users in the same month. As for actual revenue figures, clear figures can't be found that distinguish Apple Music's revenue from its larger parent company Apple. For Spotify, its revenue in 2019 was $7.44 billion, placing it as definitely one of the largest music streaming services.
Which Streaming Service Is Doing In The Best In Terms Of Revenue?
Netflix generated over $20 billion USD in revenue in 2019.
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