Ad-Supported Streaming Has Slowed Sharply

Ad-supported streaming in the U.S. reached 110 million subscribers in Q1 2026, up 10% from the prior year, but growth has slowed sharply.

The pace marks a significant deceleration. In Q1 2025, ad-supported subscriptions nearly doubled year-over-year, rising from 53 million to 100 million.

Hulu maintains the largest share of U.S. ad-supported streaming subscribers at 23% (25.3 million), according to Antenna estimates. However, its overall share of total U.S. streaming subscribers slipped from 26% a year earlier as competitors intensified their ad-tier offerings.

Peacock and Disney+ are tied for second, each holding a 17% share with roughly 19 million ad-supported subscribers.

Disney+ led year-over-year growth, adding 5.4 million ad-supported subscribers, followed by HBO Max with 4.9 million (now at a 12% share). The figures exclude gains from free tiers, pay-TV distributor bundles, and certain other partnerships.

Among major services, Disney+ and Hulu now derive 70% of their U.S. subscriptions from ad-supported plans, the highest proportions. Peacock follows at 63%, and HBO Max at 55%.HBO Max showed particularly strong momentum in shifting toward ad-supported tiers, rising to 55% from 48% a year ago. Netflix ranked next, increasing to 54% from 49% in Q1 2025.