As the industry reacts to Netflix's announcement that they lost subscribers in Q1 2022, a search for answers has begun: where did those subscribers go?
While the story behind Netflix's subscriber loss is likely highly nuanced - for example, some subscribers may have cut back on services in the face of rising costs elsewhere, others may just be watching less TV as the pandemic wanes - TVision's data shows that several other CTV apps are experiencing growth in Share of Time Spent at the same time.
TVision measures every second of TV viewing across hundreds of apps. Our data shows that over the past six months, original content apps like Paramount+, HBO Max, and Peacock have steadily increased engagement, while Netflix's has eroded.
|APPLICATION||Q1 2022 SHARE OF TIME SPENT||2H 2021 SHARE OF TIME SPENT|
|Amazon Prime Video||5.2%||4.9%|
When we take a quick look into the content driving performance for Paramount+, HBO Max and Peacock we find these apps delivered high quality, premium content in Q1 2022. For example, Paramount+ offered "Star Trek" and "1883", HBO Max brought back the "Sex and the City" franchise with "And Just Like That" and of course, Peacock played host to the Winter Olympics.
It's important to note that despite the recent subscriber losses, Netflix still reigns supreme as the breakaway leader in Share of Time Spent and Household Reach overall. Netflix's content traditionally lands atop our Share of Time Spent each month, and March 2022 was no different - the app hosted the top five programs.
Another trend that might influence subscriber rates moving forward is viewer interest in multiple apps. Americans are no longer choosing between Netflix, Prime or linear TV. In fact, the average household tuned into 7.7 apps, and 30% of households spent time viewing ten or more apps as recently as Q3 2021. The issue for Netflix is that as subscribers explore content available on other apps, they may be more likely to cancel their Netflix subscription. In fact, TVision data shows that Netflix's Household reach dropped from 69.4% in 2H 2021, down to 64.3% in Q1 of this year.
All of this data and more is available in TVision's CTV Analytics platform - the industry's most comprehensive view of CTV trends. CTV Analytics provides detailed and timely insight into viewer engagement across all TV-connected devices, hundreds of apps, and thousands of shows.
Contact us to learn more, and check back often, as we will take a deeper look at the trends influencing viewership on CTV in the next few weeks.