Ad-supported streaming subscriptions surged to approximately 100 million by the end of Q1 2025, nearly doubling from 53 million two years earlier, according to Antenna's latest report. Of these, 65% were new subscribers, 23% were "win backs" (former subscribers who returned to ad-supported tiers after canceling), and 11% were "traders" (those switching from ad-free plans).
Hulu led with a 24% share of ad-supported subscriptions, followed by Peacock at 22%, Netflix at 15%, Paramount+ and Disney+ at 14% each, Max at 8%, and Discovery+ at 3%.
During May 2025 upfronts, streamers shared updates on their ad-supported progress. Disney reported 164 million global monthly active users across Disney+, Hulu, and ESPN+, up from 157 million in January. Netflix exceeded 94 million monthly active users. Amazon’s Prime Video reached over 130 million U.S. viewers, up from 115 million, with a 37% rise in monthly viewing hours. Combined with Twitch, MGM Studios, Wondery, and Amazon Music, Amazon’s entertainment portfolio amassed a 300 million monthly ad-supported audience.
NBCUniversal’s portfolio, including Peacock, reached 286 million monthly users, with 95% ad-supported, and Peacock neared 100 million monthly active users. Paramount reported 115 million monthly ad-supported viewers across its streaming platforms.
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