The 2022 TV landscape was defined by international expansion, mergers, acquisitions and content explosions (and reductions). With a rough first half of the year for many of the biggest services on the market, there was a distinct shift in priorities away from subscriber growth and toward revenue growth.
As part of Adweek’s year-in-review coverage, we took a deep dive into the major streaming services, how they compare at the end of the year and what 2023 might bring.
Here are our biggest takeaways from the state of streaming at the end of 2022.
Disney blazes the way
Though Netflix is still the world’s largest streaming service, Disney is racing to the top. Combined, the Disney bundle (Disney+, Hulu and ESPN+) reached 235 million subscriptions globally at the end of its fiscal fourth quarter—an addition of 61 million in a year.
The company’s flagship streamer Disney+ climbed to 164.2 million subscribers, up from the 118.1 million it had at the end of 2021. Hulu and ESPN+ have 47.2 million and 24.3 million subscribers, respectively, and those services are only available in the U.S.
But despite Disney’s rapid direct-to-consumer growth, not all was smooth sailing at the House of Mouse in 2022. The company’s DTC sector lost $1.5 billion in revenue last quarter—and $4 billion over the last year. Most of those losses came from Disney+, spooking investors and the board alike and prompting the ousting of CEO Bob Chapek and the return of Bob Iger.
In early December, the company launched Disney+ Basic—a $7.99 per month ad-supported offering (currently only available in the U.S.)—with the hopes that a lower-priced tier will bring in further revenue from both advertisers and subscribers who might be drawn to a cheaper option.
Netflix’s 2022 struggles
While Disney+’s numbers climbed, Netflix’s waned. In the first quarter of 2022, not only did Netflix lose subscribers for the first time since 2011, it missed its projected 2.5 million net adds. Moreover, it worsened in the second quarter, with Netflix shedding nearly one million paying customers.
After years of steadfast refusal, the company stunned the industry in April when it announced it would add an ad-supported tier. Netflix launched Basic with Ads in November, only six months after the company first mentioned an offering. The new Netflix product beat Disney+ Basic to market by one month.
Things turned around for the streaming service in the second half of the year, as it added 2.4 million subscribers to reach 223.09 global customers. The streamer finished with 214 million in 2021. As for the future, Netflix is looking to grow its AVOD tier, add advertising capabilities and crack down on password sharing in 2023.
HBO Max makes changes FAST
At the end of 2021, we viewed HBO Max as one of the fastest-growing streaming services ahead of WarnerMedia’s planned merger with Discovery. But now, months after the formation of Warner Bros. Discovery, we’re left with more questions than answers.
CEO David Zaslav has now chosen not to break out separate subscriber numbers between HBO Max and Discovery+. Combined, the services have 94.9 million global subscribers, with strong growth boosted by popular content such as House of the Dragon and The White Lotus. Those platforms will merge into a single service by the spring. HBO and HBO Max last reported numbers without Discovery+ in the first quarter, and had reached 76.8 million subscribers.
Things will likely look very different at WBD in the next few months as Zaslav works to target $3.5 billion in cost-saving synergies. That’s led to the cancelation of popular shows such as Westworld, Gordita Chronicles and The Time Traveler’s Wife—and their complete removal from the platform.
While the 81 titles removed (so far) might find a new home on FAST, the fate of many shows remains uncertain.
Mountains of growth
It’s been an explosive year for Paramount+. Since the streamer rebranded from CBS All Access last year, it broke out separate subscriber numbers for the first time. Paramount+ began the year with 32.8 million subscribers and is heading into 2023 with 46 million.
For comparison, at the end of 2020, all of ViacomCBS’ streaming services (CBS All Access, Showtime, BET+ and others) combined for 17.9 million subscribers. Now, Paramount has climbed to nearly 67 million global direct-to-consumer subscribers.
The rumor is that Showtime and Paramount+ may combine into a single service next year. The company’s already taken the first steps, beginning to bundle the two together.
Transparency is key
A formerly reticent player, NBCUniversal changed gears this year around its strategy for Peacock.
The company shifted its focus from a free tier to its paid tier and broke out subscriber numbers for the first time (having previously only reported sign-ups).
Peacock surpassed 15 million paid users overall, with approximately 14 million additional users coming from bundled and paid offerings, reaching 30 million total customers.
With Peacock finally revealing its user numbers, we can only hope Amazon Prime Video and Apple TV+ will follow suit.
In the three years since Apple TV+ rolled out, and with hits like Ted Lasso and Oscar-winning films like CODA, the company still hasn’t released any hard numbers around subscribers or sign-ups.
Prime Video also made a splash in 2022, becoming the exclusive home of Thursday Night Football and launching the blockbuster Lord of the Rings prequel The Rings of Power.
We know that the overall Amazon Prime service has more than 200 million subscribers, and the company said that Rings of Power was viewed by more than 100 million people worldwide. But with little information out there, it’s unclear which is the one streamer to rule them all.
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