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2024 Media Streaming Stats You Should Know – Forbes Home

In an era where digital media consumption has become a significant part of our daily lives, understanding streaming trends is more crucial than ever. As we continue to embrace the convenience and diversity offered by streaming services, it’s important to delve into the patterns and preferences shaping this landscape. To provide insightful and accurate data on current streaming habits, Forbes Home commissioned a comprehensive survey, aiming to capture the essence of America’s streaming culture in 2024.

To get a clearer picture of the streaming behaviors and preferences among Americans, Forbes Home partnered with the market research company OnePoll. The objective was straightforward yet ambitious: conduct a detailed survey targeting a demographically diverse group of 1,000 Americans. These individuals, who engage in media streaming for more than one hour on average per day, offer a representative snapshot of the nation’s streaming trends.

The methodology was meticulously designed to ensure a broad approach. This diverse group’s insights provide us with a unique window into the evolving world of digital streaming, revealing not just how Americans are consuming media, but also what drives their choices in this rapidly changing landscape.

In the forthcoming sections, we will delve into the intriguing findings of this survey, shedding light on the trends that are defining streaming in 2024.

Top Streaming Statistics 

Americans spend an average of three hours and nine minutes a day streaming digital media.

In today’s digital age, streaming media has woven itself into the fabric of daily life in America. The recent survey reveals a striking statistic: on average, Americans are dedicating a substantial three hours and nine minutes each day to streaming digital media. 

This engagement translates to over 21 hours per week—equivalent to the commitment of a part-time job. This significant investment of time underscores the central role that streaming services play in entertainment and information consumption for the average American.

99% of all U.S. households pay for at least one or more streaming services.

Streaming services have achieved a near-ubiquitous presence in American homes, as highlighted by the latest findings. An overwhelming 99% of U.S. households now subscribe to at least one or more streaming services, with Netflix, Amazon Prime Video and Apple TV+ topping the charts. 

This near-universal adoption is a testament to the shift in how entertainment and media are consumed, moving away from traditional models like cable TV to more flexible, on-demand streaming options. The statistic not only reflects the popularity of streaming services but also indicates a significant change in the media landscape, where streaming is now the norm rather than the exception.

Netflix dominates as the most subscribed to video streaming service, with 260.28 million subscribers.

Netflix’s position as the leader in the streaming service market is undeniable, with a remarkable total of 260.28 million subscribers worldwide. This number reflects a significant increase of 5.3% from the previous quarter and a near 13% growth year over year. The global distribution of Netflix’s subscribers is noteworthy:

  • United States and Canada: Representing nearly 31% of total subscribers with 80.13 million.
  • Europe, the Middle East and Africa: Accounting for about 34% with 88.81 million subscribers.
  • Latin America and Mexico: Contributing 46 million subscribers.
  • Asia-Pacific Region: Adding 45.3 million subscribers.

These statistics not only highlight Netflix’s extensive reach but also its diverse and widespread appeal across various regions and cultures.

Americans pay an average of $46 a month for streaming services.

The cost of accessing a variety of streaming content is a key consideration for many households. According to the survey, Americans are spending an average of $46 per month on streaming services. 

This figure reflects not just the value placed on entertainment and information access but also the willingness of consumers to invest in a diverse range of streaming options. It highlights the economic impact of streaming services and the significant role they play in the monthly budget of the average American household.

45% have canceled a streaming subscription within the last year because costs were too high. 

The cost of streaming services is becoming a significant factor in consumer decision-making. In a revealing trend, 45% of users have canceled at least one streaming subscription in the past year, citing high costs as the primary reason. This decision to cut back on streaming expenses aligns closely with another finding that 44% of people reported that their streaming subscription costs have increased over the past 12 months. 

This correlation suggests a growing sensitivity among consumers to the rising prices of streaming services, reflecting a critical balance between the desire for diverse media content and the financial constraints of maintaining multiple subscriptions.

On average, Americans pay for 2.9 streaming subscriptions every month. 

Diving deeper into the dynamics of streaming service subscriptions, it emerges that Americans, on average, maintain subscriptions to approximately 2.9 streaming services each month. This statistic provides a clear indicator of the diverse viewing preferences and the desire for varied content among U.S. consumers. It also reflects a balance between the allure of multiple streaming options and the practical considerations of subscription costs. 

With a landscape offering an ever-increasing number of streaming platforms, this figure underscores the selective yet expansive engagement that Americans have with digital media streaming services.

Streaming users are most likely to drop Disney+ if subscription prices increase.

When considering the potential impact of rising subscription costs on streaming service choices, a significant trend emerges. Among various platforms, Disney+ appears to be the most vulnerable to customer attrition due to price hikes. According to the survey, 44% of streaming users indicated that Disney+ would be the first service they would drop if subscription prices increased. 

This sentiment is followed closely by Hulu and ESPN+, with 40% and 35% of users respectively stating they would cancel these services under similar circumstances. The graphic below visually represents this trend, highlighting the potential risk for these platforms as they navigate the delicate balance of pricing and subscriber retention.

50% of streaming users pay for a streaming service without ads. 

The choice between ad-supported and ad-free content is a crucial consideration for many users. According to the survey, half of the streaming users—50%—pay for at least one streaming service that offers content without advertisements. Within this group, 24% are certain they pay for subscriptions specifically to avoid ads, highlighting a clear preference for uninterrupted viewing experiences. 

Interestingly, another 26% of users are unsure whether their subscriptions include ads or not, suggesting a degree of ambiguity or indifference towards the presence of ads in their streaming content. This split in user preferences and awareness underscores the diverse approaches to media consumption in the digital age and the varying priorities users have when selecting their streaming services.

Video Streaming Statistics

Netflix still has the most subscribers of any streaming service.

Netflix continues to reign supreme in the world of streaming services, maintaining its position as the platform with the most subscribers. As of December 31, 2023, the service boasted an impressive 260.28 million subscribers globally. This represents a significant growth of nearly 13% year over year, solidifying Netflix’s stronghold in the streaming industry. The platform’s ability to consistently attract and retain a vast subscriber base amid intense competition and a rapidly evolving media landscape is a testament to its diverse content offerings, user experience and brand strength. 

Netflix is the streaming platform that people report enjoying the most. 

Beyond just subscriber numbers, Netflix also leads in terms of user satisfaction and enjoyment. A significant 36% of streaming service users report that Netflix is their favorite platform in terms of interface and user experience. This preference places it well ahead of its nearest competitor, Amazon, which is favored by 14% for its interface. This distinction underscores Netflix’s success in not only delivering diverse content but also in providing an engaging and user-friendly experience.

The video streaming industry is valued at $544 billion. 

The video streaming industry has established itself as a colossal economic force, currently valued at an astounding $544 billion. This figure is more than just a testament to the industry’s current success—it’s a glimpse into a rapidly expanding future. Projections indicate that by 2030, the industry is expected to skyrocket to an impressive $1,902 billion

This projected growth reflects not only the increasing global appetite for digital streaming content but also the technological advancements and innovations that continue to redefine the landscape of entertainment and media consumption. Such exponential growth underscores the immense potential and transformative impact of the streaming industry in the coming years.

Video streaming revenue is expected to reach over $43 billion in 2024.

The financial trajectory of the video streaming industry continues to trend upwards at a remarkable pace. In 2024, the industry’s revenue is set to reach a staggering $43.97 billion. This impressive figure is just the beginning of a growth curve that is expected to further ascend to $54.22 billion by 2027, with an annual growth rate of 7.53% from 2024 to 2027. 

These projections not only reflect the increasing monetization of streaming services but also indicate the growing willingness of consumers to invest in digital media for entertainment and information. The anticipated revenue growth speaks volumes about the robustness of the streaming market and its expanding role in the global economy.

Video Streaming Subscription Costs

The cost of video streaming subscriptions varies significantly across different platforms, reflecting the diverse range of content and services offered. The graphic below illustrates these differences in subscription costs:

  • Hulu: Positioned as one of the higher-priced options at $17.99 per month.
  • Netflix: Also on the higher end of the spectrum, with a monthly subscription fee of $15.49 per month.
  • Disney+: Commands a price of $13.99 per month, placing it among the more expensive services.
  • AppleTV: Stands out as the most affordable option, with a subscription cost of just $6.99 per month.

These prices represent the financial commitment required by consumers to access the unique libraries and features each service offers. The variation in pricing underscores the competitive nature of the streaming industry and the different value propositions presented to subscribers.

Music Streaming Statistics

There are 90 million paid music streaming subscribers in the US 

The landscape of music streaming in the United States has undergone a dramatic transformation over the past decade as well. As of now, there are a remarkable 90 million paid music streaming subscribers in the country. This figure stands in stark contrast to the scenario in the first half of 2014, when there were only 7.9 million music streaming users. 

This exponential growth not only highlights the shifting preferences in how audiences consume music but also underscores the significant impact of technological advancements and the increasing accessibility of streaming services. The rise from 7.9 million to 90 million subscribers in such a short period vividly illustrates the rapid and ongoing evolution of the music-streaming industry.

Music Streaming Subscription Costs 

The cost of subscriptions for music streaming services exhibits a fairly uniform pattern among some of the leading platforms. The graphic below provides a clear comparison of these prices:

  • Apple Music, Spotify Premium, Tidal and YouTube Music: All these popular services are priced at $10.99 per month, reflecting a standard rate for premium music streaming experiences.
  • Amazon Music Unlimited: Stands slightly apart in terms of pricing, offering its service at a slightly lower rate of $9.99 per month.

These pricing structures are indicative of the competitive nature of the music streaming industry, where services strive to offer value to consumers while maintaining competitive pricing. 

Music streaming services make up 89% of total music industry revenue. 

Music streaming services have become the cornerstone of the music industry’s financial model. An astounding 89% of the total revenue in the music industry is now generated through these streaming platforms. This figure reflects a seismic shift from traditional music revenue sources such as physical sales and digital downloads towards streaming. It underscores the degree to which streaming has revolutionized the way music is distributed, accessed and monetized.  

Music streaming revenue has grown to $17.5 billion a year. 

The revenue generated from music streaming has seen an extraordinary surge in recent years. By 2022, it reached a remarkable annual figure of $17.5 billion. This growth trajectory is even more impressive when considering the historical context: between 2010 and 2020, music streaming revenue experienced a meteoric rise, increasing approximately 34 times from $0.4 billion to $13.6 billion

This exponential increase not only reflects the growing popularity of music streaming services among consumers but also indicates the significant impact these platforms have had on the economics of the music industry. The staggering revenue growth is a clear indicator of how digital streaming has reshaped the landscape of music consumption and revenue generation.

People spend an average of 20 hours streaming music each week. 

The engagement with music streaming services is not just widespread but also remarkably deep. On average, people spend about 20 hours and 6 minutes each week streaming music, according to data from Exploding Topics. 

This level of commitment to streaming music has seen a significant increase recently, growing by an hour and 42 minutes since 2021. This uptick in streaming time reflects a growing integration of music streaming into daily routines and lifestyles, indicating not just a preference for digital music consumption but also its evolving role as a constant companion in people’s lives. 

Spotify is the most popular music streaming service. 

In the competitive arena of music streaming services, Spotify emerges as the clear market leader. Holding a dominant 30.5% of the market share, Spotify sits comfortably at the top, with its nearest competitor, Apple Music, holding a 13.7% share. This substantial lead in market share is further underscored by Spotify’s impressive subscriber count: as of the first quarter of 2023, the service boasts 210 million subscribers. 

These figures not only demonstrate Spotify’s widespread popularity but also reflect its successful strategy in attracting and retaining a large and diverse user base.

Video Game Streaming Statistics

The video game market size was 217 billion as of 2022. 

The video game industry, a dynamic and rapidly growing sector, achieved a market size of $217 billion in 2022. This impressive figure is not an endpoint but a signpost of the industry’s potential for future growth. Predictions indicate that the video game market is expected to expand at an annual growth rate of 13% leading up to 2030. 

Such a robust growth rate highlights the increasing global engagement with video games across various platforms, including consoles, PCs and mobile devices. The industry’s expansion is driven by technological advancements, the diversification of gaming experiences and the growing acceptance of gaming as a mainstream form of entertainment and social interaction.

Over 3 billion people play video games worldwide. 

The global reach of the video gaming industry is truly staggering, with over 3.26 billion people around the world engaging in video games as of 2024. This figure represents nearly half of the global population, illustrating the universal appeal and widespread accessibility of video gaming. The diversity of gaming platforms, from consoles and PCs to mobile devices, has played a significant role in this extensive reach. 

The number of gamers worldwide reflects not just a popular pastime but a significant cultural phenomenon that transcends geographic and demographic boundaries. 

U.S. gamers spent over 55 billion on video games in 2022. 

The expenditure on video games in the United States reached a remarkable milestone in 2022, with gamers spending over $55 billion. This substantial investment in the gaming industry is indicative of its significant role in entertainment and digital media. A notable aspect of this spending pattern is the source of the majority of this revenue: an astounding 85% comes from free-to-play games, as reported by Truelist. 

This trend underscores the evolving business models in the gaming industry, where free-to-play games, supported by in-game purchases and microtransactions, have become a major revenue driver. 

Twitch has over 140 million users per month. 

Twitch, the leading platform in video game streaming, has seen remarkable growth in its user base. As of now, it boasts over 140 million monthly users, a number that has more than doubled from 55 million users in 2015. This exponential growth not only illustrates the platform’s increasing popularity but also solidifies its position as the most popular video game streaming service. Twitch’s success can be attributed to its unique combination of live streaming, community engagement and interactive content, which resonates strongly with the gaming community. 

1.86 billion hours of video game streaming is watched on Twitch each month. 

The scale of engagement on Twitch is truly astonishing. Viewers collectively watch approximately 1.86 billion hours of video game streaming content on Twitch each month. To put this into perspective, a staggering 1.14 trillion minutes of video game streaming content has been uploaded to the platform to date. 

These numbers not only reflect the immense popularity of Twitch but also highlight the growing interest in gaming culture and the esports industry. The platform has become a major destination for gaming enthusiasts worldwide, offering an extensive range of content that caters to diverse interests and preferences within the gaming community.

27% of gamers spend 1 to 5 hours streaming video games per week. 

A significant portion of the gaming community dedicates a considerable amount of time to streaming video games. Approximately 27% of gamers report spending between 1 to 5 hours per week engaged in streaming video games. This statistic highlights the moderate but consistent commitment many gamers have towards engaging with streaming content with a top internet provider. Whether as viewers or streamers themselves, this range of time spent reflects a substantial segment of the gaming population that actively participates in the streaming culture. 

The best-selling video game console is the PlayStation 2. 

In the history of video game consoles, the PlayStation 2 stands out as the best-selling console, a testament to its enduring popularity and impact on gaming culture. With over 155 million units sold, the PlayStation 2 leads the pack in sales. Following closely is the Nintendo DS, with a total of 154.02 million units sold, showcasing its own significant presence in the gaming world. The Nintendo Switch also features prominently with over 125 million units sold, highlighting its recent success in the market. 

These figures, along with the sales of other gaming systems, are displayed in the graphic below, providing a comprehensive view of the most popular video game consoles in terms of sales.

Bottom Line

As we’ve navigated through a plethora of statistics in this comprehensive overview, it’s clear that the realms of streaming and gaming are not just thriving; they’re fundamentally reshaping entertainment and media consumption. From the dominance of Netflix in the video streaming world to the staggering number of people playing video games globally, these trends paint a vivid picture of a digitally-driven future. The financial implications, marked by billions in revenue and significant monthly spending on subscriptions, further underscore the economic might of these industries.

Intrigued by these trends and want to dive deeper? We invite you to visit our hub for more insightful statistics pages that explore the dynamic landscape of digital media. Whether you’re a gaming enthusiast, a streaming devotee or just curious about the digital world’s evolution, our comprehensive collection of statistics offers something for everyone. Continue your journey with us and stay informed about the ever-changing world of digital entertainment.

Visit our hub to view more statistic pages.

Sources

  • Digital Trends
  • FortuneBusinessInsights
  • Statista
  • Visual Capitalist
  • Exploding Topics
  • DriveResearch
  • GrandviewResearch
  • Truelist
  • Backlinko
  • Statista
  • GameRant