Netflix continues to grow
Netflix added more than eight million subscribers in Q2, bringing its global total to 278 million. This surge is due to the strong array of content added including the latest season of Bridgerton, Baby Reindeer, Under Paris, Atlas, Hit Man and The Roast of Tom Brady which is, to date, its most watched live-streamed show. To further increase engagement, Netflix has expanded its live programming to include two NFL games on Christmas Day 2024, the rescheduled fight between Jake Paul and Mike Tyson in November, and WWE’s Raw starting in 2025. Further, Netflix began testing a new UI on its homepage to help discover added content. This will feature a simpler navigation bar, more title previews, additional information such as genre, ratings and synopsis, and immersive trailers to keep subscribers engaged.
The Circana Take:
- Netflix continues its dominance in the market. With the upcoming additions of various live sports, we expect to see even more growth. All this added content could likely lead to further price hikes in the near future.
Prime Video’s new UI
Prime Video is in the process of getting a redesigned user interface with a new tab at the top of the screen showing all the content included with the Prime Video subscription. Subscribers will be able to browse, sign up and manage active add-on subscriptions directly from the Subscriptions section in the navigation bar. The tab will also display other streaming services subscribed to, such as Max and Paramount+. In addition, AI will be used to recommend personalized content. UI is quickly becoming ubiquitous as we mentioned in the Netflix story above. The company is also experimenting with a new homepage UI that also improves the streaming experience.
The Circana Take:
- Streaming services are now relying more on UI upgrades to keep subscribers engaged and it is becoming as important as strong content. As subscribers have come to expect an overall seamless experience, this trend is likely to continue.
Disney+, Hulu, and Max bundle has launched
The steaming bundle of Disney+, Hulu and Max is now available to subscribers for $16.99/month with ads and $29.99/month ad-free, representing a 38% saving compared with purchasing the services separately. The bundle is available for purchase on each platforms’ website. As we recently reported, bundles have become the new norm with streamers looking to reduce churn. Of note, Comcast recently launched its Streamsaver bundle, offering Xfinity customers Apple TV+, Netflix and Peacock for $15/month.
The Circana Take:
- As streaming prices continue to rise and consumers wallets are tightening, discounted bundles are as appealing as ever.
- Look for more consolidation among streamers to strengthen appeal to consumers. Expect to see more bundles as SVOD services continue to seek ways to grow in a competitive market.