More than 20 million homes across the United Kingdom now have access to a subscription video-on-demand (SVOD) service, marking a significant milestone in the evolution of the country’s media consumption habits.
According to the latest Establishment Survey conducted by Barb, this represents a record 68% of UK households, up from 67.9% in the previous quarter. It’s the highest figure ever recorded by the organisation since it began tracking the data in 2014.
This surge, equivalent to an increase of 500,000 households from Q1 to Q2 2024, illustrates a continued appetite for on-demand streaming content, with every major player on Barb’s tracker registering quarterly growth.
Netflix Continues to Lead, Ad Tier Sees Uptick
Still reigning supreme, Netflix maintained its dominant market position, with 17.1 million homes (58.6%) now subscribing – up from 16.7 million (58%) in Q1.
Notably, Netflix’s ad-supported tier is also gaining traction, reaching 2.78 million households (9.5%), a significant rise from 2.12 million (7.4%) the quarter before.
The data suggests that consumers are increasingly open to lower-cost subscription options, particularly as cost-of-living pressures continue to impact household budgets.
Amazon and Disney+ Solidify Their Footing
Hot on Netflix’s heels is Amazon Prime Video, available in 13.7 million homes, equating to 46.7% of UK households. The service saw a substantial rise in the first half of 2024, gaining almost 1.3 million new households since Q4 2023.
Meanwhile, Disney+ remained a solid third-place contender, reaching 7.6 million homes (26.1%).
For the first time, Barb shared figures for Disney+’s ad-supported tier, which in its eighth month of operation was available in 820,000 homes across the quarter – a promising sign for the platform’s evolving monetisation strategy.
Smaller Platforms Make Gains Too
While the big three continue to dominate, other SVOD platforms are steadily carving out their place in the market. Apple TV is now present in 2.4 million homes (8.3%), and Discovery+ holds strong with 3.2 million households (11.1%).
Paramount+ is just behind, reaching 2.8 million homes (9.7%), while Sky’s Now service is available in 1.98 million homes, equating to 6.8% of UK households.
Although these figures may seem modest compared to the frontrunners, they highlight a growing diversity in the UK’s streaming ecosystem.
A Nation of Multi-Subscribers
One of the most telling shifts this quarter is the number of homes with access to more than one streaming service.
For the first time, this figure has surpassed 14 million households – nearly half (48%) of all UK homes. This trend towards multi-platform subscriptions reflects consumer desires for varied content and flexibility across services.
Barb’s Head of Insight noted that the 6.6% year-on-year increase – 1.25 million more households compared to Q2 2023 – demonstrates robust momentum in the sector, which has often struggled with plateaus over the past three years.
What’s Next for the SVOD Market?
With all tracked services seeing quarterly growth, the outlook for 2024 appears strong.
However, Barb also cautioned that Q3 will serve as a crucial test of whether these platforms can continue building on current momentum or fall back into the stagnation seen in previous years.
As the streaming landscape matures and competition stiffens, the challenge for providers will be not only to attract new users but to keep existing ones engaged – particularly as more ad-supported tiers enter the market and consumers grow more selective about where they spend their time and money.
Conclusion: A Landmark Quarter with Eyes on the Future
Q2 2024 has proven to be a defining moment for the UK’s streaming market.
With over 20 million homes now tuned into SVOD platforms and a significant rise in multi-service households, the shift towards on-demand, digital-first entertainment is clearer than ever.
The battle for viewer attention will only intensify, but for now, the numbers signal strong public demand and an industry that continues to evolve – and thrive.