10 Biggest Online Streaming Companies in the World

Published on May 12, 2022 at 9:21 am by Habib Ur Rehman in Lists, News

In this article, we take a look at the 10 biggest online streaming companies in the world.

Prior to the internet commercialization, the streaming industry was virtually dominated by legacy media like the television and film industry. The legacy media dominance started getting challenged in what is called the advent of the new media, i.e online publication and streaming services that gradually started gaining steam after the internet was commercialized and picked up pace with the accelerated adoption of smartphones, tablets and high speed internet technologies.

One of the greatest advantages digital media offers relative to legacy media is more convenience. Streaming services like broadcast TV in legacy media do not respond as effectively to consumer demand as streaming services in digital/online media where you can watch the shows/movies you want to watch at the time of your own choosing.

The adoption of online streaming services was accelerated during the pandemic where people adjusted to lock-downs by activities like gaming and binge-watching online shows. According to a report by Fortune Business Insights, the subscription rate for video on demand services like Netflix, Inc. (NASDAQ:NFLX) and Walt Disney Company (NYSE:DIS)’s Disney+ was up by 26% in 2020 with 230 million new subscriptions as compared to 2019. The same report finds that the online streaming industry is expected to be valued at $1.6 trillion by 2029 up from $473 billion in 2022.

In this regard, there are many companies offering Video on Demand streaming services. Some of the most popular of these include Netflix, Inc. (NASDAQ:NFLX), Amazon Prime by Amazon.com, Inc. (NASDAQ:AMZN) and Disney+ by The Walt Disney Company (NYSE:DIS). However, given the size of the streaming market, many companies have been capturing the market share. We’d be listing the 10 biggest online streaming companies in the world.

Photo by Ashley Byrd on Unsplash

Our Methodology

For our list of the 10 biggest online streaming companies in the world, we’d be using the number of subscribers as the core metric for ranking. We’d be sourcing the number of subscribers from streaming services’ quarterly reports of 2022.

We’d also be considering secondary metrics like revenue, number of views and streaming minutes on these platforms. With that said, let’s move down to the list of 10 biggest online streaming companies in the world.

10. Apple TV+

Number of Subscribers: 20 Million (estimated)

AppleTV+ is owned and operated by Apple Inc. (NASDAQ:AAPL). It was launched in November 2019. Apple TV+ does not stream acquired series or films and provides only original television shows and production movies which the company calls Apple Originals. The most popular of its originals is called Ted Lasso, a show about an American football coach hired to manage a British football team. Owing to its parent company’s popularity and brand loyalty, Apple TV Plus has been competing with the biggest online streaming companies in the world. The first twenty episodes of Ted Lasso garnered 509 million views.

The streaming can be accessed through Apple TV, the media player which comes pre-installed in Apple Inc. (NASDAQ:AAPL) devices or can be accessed online via Apple TV’s web version. When it comes to pricing, Apple Inc. (NASDAQ:AAPL) charges a relative premium at $4.99 per month. However, it’s free for three months for Apple Inc. (NASDAQ:AAPL) users who access it via the pre-installed app.

The streaming app is also included in the Apple One package which bundles up to five Apple Inc. (NASDAQ:AAPL) services together at $14.95 per month. Apple Inc. (NASDAQ:AAPL) does not disclose the number of subscribers for its streaming service and therefore, nothing can be said certainly about the number of subscribers Apple TV+ has but estimates at The Observer suggest the number is around 20 million.

While Apple TV+ is owned by Apple Inc. (NASDAQ:AAPL) and gaining in popularity, it is nowhere near the subscription levels of Netflix, Inc. (NASDAQ:NFLX), Amazon Prime by Amazon.com, Inc. (NASDAQ:AMZN) and Disney+ by The Walt Disney Company (NYSE:DIS).

9. CuriosityStream Inc. (NASDAQ:CURI)

Number of Subscribers: 20 Million

CuriosityStream Inc. (NASDAQ:CURI) is one of the most distinctive streaming services on the list because of its focus in a narrow domain. It caters to a particular audience curious about science, technology and history in over 175 countries. It was launched by John S. Hendricks, the founder of Discovery Channel.

The platform does not generate as much revenue as other streaming companies on the list because of its cheap subscription rates. It posted a revenue of $27 million in the fourth quarter of 2021. The relatively lesser revenue has to do with the service’s subscription plans, quantity of content and frequent discounts. Its standard plan starts at $2.99/month or $19.99/year which is often discounted at $11.99-$14.99 a year.

The premium plan which offers 4K streaming starts at $9.99/month or $69.99/year. However, CuriosityStream Inc. (NASDAQ:CURI) plans to increase the prices to be able to grow and multiply the content. Some of its most popular documentaries include First Man and Space Probes, the former had a 90% approval based on 19,245 ratings while the latter had a 98% approval based on 26,996 ratings on the app.

Unlike Netflix, Inc. (NASDAQ:NFLX), Amazon Prime by Amazon.com, Inc. (NASDAQ:AMZN) and Disney+ by The Walt Disney Company (NYSE:DIS), CuriosityStream Inc. (NASDAQ:CURI) does not cater to the general audience.

8. Peacock

Number of Subscribers: 28 Million

Peacock is the streaming service owned and operated by NBCUniversal Media which in turn, is owned by the telecommunications company Comcast Corporation (NYSE:CMCSA). In their Q1 earnings report for 2022, Comcast Corporation (NYSE:CMCSA) noted an increase of subscribers for peacock streaming service up to 28 million from 24 million.

The number of paid subscribers also increased up to 13 million from 9 million in the previous quarter suggesting fast growth for the service. Future trends for peacock look optimistic since NBC shows are set to move to peacock from Hulu. The business model at peacock is a freemium one. The streaming service of Comcast Corporation (NYSE:CMCSA) offers ads-based streaming service to non-paying members while an ad-free premium service costs $9.99 per month.

Comcast Corporation (NYSE:CMCSA)’s Peacock airs both original as well as acquired series/shows. Some of its most popular original series include Save Me and We are Lady Parts while Two and Half Men and The Office are some of its most popular acquired series. It also airs entertainment-sports events from World Wrestling Federation (WWE).

7. Paramount+

Number of Subscribers: 39.6 Million

Paramount+ is an over-the-top streaming service owned by Paramount Streaming which is a division within Paramount Global (NASDAQ:PARA). One of its most notable original shows include Star Trek: Picard with Patrick Stewart making a return as Picard.

The Star Trek show’s first two episodes had 9.6 million viewers logging in. Other than shows, Paramount Plus also offers news and live streaming of sports events. It generated a whopping $7.3 billion in revenue in the first quarter of 2022.

6. Hulu

Number of Subscribers: 45.3 Million

Hulu is another American streaming service majority-owned by The Walt Disney Company (NYSE:DIS). Disney owns 67% of Hulu while the rest of the 33% is owned by Comcast Corporation (NYSE:CMCSA). The Walt Disney Company (NYSE:DIS) showed that Hulu’s subscribers had increased to 45.3 million up from 39.4 million in its earnings report in the first quarter of 2022. The report also showed Hulu making $12.96 per paying subscriber in the first quarter.

The streaming service has been able to captivate the audience with originals like Shrill and Only Murders in the Building. Hulu has been gaining popularity with the audience aged 18-34 according to Nielsen’s findings which also showed that Hulu was the most popular when it comes to minutes streamed in May, 2022 at the average of 130 minutes, followed by YouTube, at the average of 128 and Netflix at 110 minutes.

While streaming services like Netflix, Inc. (NASDAQ:NFLX), Amazon Prime by Amazon.com, Inc. (NASDAQ:AMZN) and Disney+ by The Walt Disney Company (NYSE:DIS) lead the industry, services like Hulu are growing faster to catch up.

5. HBO Max

Number of Subscribers: 76.8 Million

HBO Max is a stand-alone streaming service owned and operated by Warner Bros Discovery, Inc (NASDAQ:WBD). It combines libraries from HBO and Warner Bros along with content from many other creators the most prominent of which include Adult Swim, DC Entertainment, Cartoon Network, Sesame Workshop, Sony Pictures and Crunchyroll.

Original content produced at Warner Bros Discovery, Inc (NASDAQ:WBD)’s streaming service includes films, series and specials and is called Max Originals. However, the streaming service abstains from promoting binge-watching and releases series content episodically.

Several of HBO Max’s films and series have seen huge success with the audience. According to Nielsen, the movie Wonder Woman 1984 amassed almost 2.3 billion minutes streamed by US viewers. Another of HBO’s series Game of Thrones, streamed on Warner Bros Discovery, Inc (NASDAQ:WBD)’s HBO Max, was a huge success with an average of 46 million viewers across all its seasons.

4. Disney+

Number of Subscribers: 129.8 Million

Disney+ is an over-the-top video-on-demand streaming service like most others on the list of biggest streaming companies in the world. What sets it apart is that it’s the third most popular video-on-demand service. It is owned and operated by the media and entertainment distribution division of The Walt Disney Company (NYSE:DIS).

Disney Plus is also one of the fastest growing streaming services in the world. It gained 95 million subscribers in just over a year of its launch in November 2019. The intense popularity was the result of the conclusion of Marvel Cinematic Universe’s phase 3 which included movie series like Avengers and Guardians of the Galaxy which saw immense popularity with the audience across the globe. The phase concluded in April, 2019 with the release of Avengers: Endgame. However, the huge popularity of the phase led to spin-off shows that were aired on Disney+ after its launch in November, 2019. The shows included The Falcon and the Winter Soldier, WandaVision and Loki.

Each of the three shows amassed hundreds of millions of minutes streamed according to Nielsen. Disney Plus does not have a free offer and charges as of Q1 of 2022, the streaming service generated $4.41 per paying subscriber.

3. Spotify

Number of Subscribers: 182 Million

The third on the list of biggest online streaming companies in the world is Spotify. It is a Swedish streaming company that streams music and podcasts. However, some of the music and podcasts are audio only. As of the Q1 of 2022, Spotify had 182 million subscribers, one of the highest numbers in the streaming industry.

The company generated a revenue of $2.8 billion in the first quarter of 2022 and hosts as well as streams various popular podcasts including The Joe Rogan Experience, one of the most popular podcasts on Spotify, though one that attracted controversy . Other than that, various high-profile singers put their music on the streaming service, including Taylor Swift, Justin Bieber, Drake and Eminem to name a few.

Spotify offers both free and premium options. Both options provide equal access to content but premium users have the privilege of early access to exclusive content or new music release while free users would have to wait for a few weeks for the same. Also, there’s no ads in the premium option.

2. Amazon Prime

Number of Subscribers: 200 Million

Amazon Prime is an over-the-top stand alone streaming service offered by Amazon.com, Inc. (NASDAQ:AMZN). The video-on-demand streaming service has just over 200 million subscribers across the world.

Bosch, Alpha House and The Tick are some of the popular originals on Amazon Prime. It costs $14.99 per month or $139 per year.

1. Netflix, Inc. (NASDAQ:NFLX)

Number of Subscribers: 221.64 Million

When it comes to the biggest online streaming companies in the world, Netflix, Inc. (NASDAQ:NFLX) wins hands-down owing to the sheer number of subscribers it has across the world. Netflix, Inc. (NASDAQ:NFLX) was launched in August, 1997 in Scotts Valley, California by Reed Hastings and Marc Randolph.

It did not directly start out as a streaming service given that internet back then was frustratingly slow. Instead, the founders created a Brick and Mortar store where they’d keep DVDs and started Netflix to give members access to the list of DVDs available which they could then rent.

However, when it did switch the business model, it was one of the first video-on-demand streaming services in the world. Contrary to what most might think, Netflix gained in popularity rather gradually after it picked up pace around 2013. A lot of shows on Netflix, Inc. (NASDAQ:NFLX) have enjoyed immense popularity around the world with many of its shows, characters becoming pop culture icons.

Some of the most popular originals to stream on Netflix include Lucifer, Peaky Blinders, Money Heist and Squid Games. Squid Games was arguably one of the most popular shows in streaming history. According to Nielsen, it amassed a record 3 billion minutes streamed in just a week, from September 27 to October 3 in 2021. Despite the rising competition, the streaming company is going strong. In its 2022’s Q1 earnings report, it showed a revenue of $7.87 billion.

When it comes to the business model, Netflix, Inc. (NASDAQ:NFLX) is a fully paid service and offers three plans, i.e basic, standard and premium. Basic option goes for $9.99 per month, the standard one goes for $15.49 and premium goes for $19.99 per month.

You can also take a peek at 5 Best Movies on Amazon Prime and 5 Most Valuable Entertainment Companies in the World