Antenna - Market data platform for the Subscription Economy has recently revealed that premium SVOD subscriptions in the United States have increased by +4.0% quarter over quarter and by +24.7 percent year over year. According to the research, 37.4 million new gross SVOD customers and 29.8 million subscribers were lost in the first quarter of 2022, leaving a gross of 7.7 million new subscribers. The figure of 37.4 is similar to the previous two quarters; however, it is much higher than the figure for 2019. Peacock and Paramount+, which attracted 6.1 million or more U.S. subscribers, were a big part of the expansion. In the first quarter of 2019, there were 10.3 million subscriptions; when Netflix and Hulu controlled the market, services like Disney+, Peacock, and HBO Max didn't exist. The vast increase represents a 54 percent compound annual growth rate over the last three years.
Netflix's downfall has raised some concerns if the SVOD (subscription video on demand) industry has peaked and is beginning a downward trend. While Netflix lost 200k subscribers and is expected to lose 2 million subscribers in the subsequent quarters, the data revealed by Antenna is a sign of relief since the fresh subscriber additions suggest that customers are churning and returning. Many of the churning Q1 2022 Netflix users signed up for Peacock, Disney+, and Paramount+. All of this information demonstrates how fickle the streaming business is. It's difficult to forecast which service will take the lead next.