New VIP+ Analysis: Last quarter’s slowdown for the domestic streaming market likely marked a new phase of moderate-to-limited growth.
“stayed relatively flat,” according to Comcast’s earnings release, stalling out at 13 million paid subscribers less than two years after launch.
Consumers are still adding subscriptions, albeit at a lower rate; there were 31 million gross additions in the U.S. in Q2, down 18 percent from Q1, while cancellations remained constant at 28.5 million. It all added up to a quarter that saw net U.S. subscriber gains at their lowest point since 2018, according to analytics firm Antenna — in other words, before major players like Disney+ and HBO Max had entered the streaming wars.
Of course, streaming remains highly popular among consumers, and its usage is likely to continue growing over time. Streaming’s share of TV viewing time rose throughout Q2, hitting record highs each month, according to Nielsen data. And the average number of services accessed per household ticked up in Q2 after plateauing the previous quarter, while household penetration also rose, per Kantar.
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