Scenarios illustrating how U.S. subscription video-on-demand (SVOD) market shares and share of JustWatch streaming will shift following the acquisition of Warner Bros. Discovery’s platforms (HBO Max), based on JustWatch user engagement data.
Source: https://www.justwatch.com/us/press/netflix-paramount-warner-bros
SVOD Market Shares (Jan–Sep 2025) – Netflix Acquiring Warner Bros. Discovery:
- An acquisition of Warner Bros. Discovery by Netflix would result in a combined 33%shareofthe
U.S.SVOD market, reflecting contributions from Netflix (20%) and HBO Max (13%).
- This would position the merged entity far ahead of Prime Video(21%), currently the leading platform.
*SVODmarketsharesarecalculatedusingengagementdatafromJustWatch’s20MmonthlyUS users.InteractionsweremeasuredbetweenJanuary1,2025andSeptember30,2025.Moreinfo included in the methodology below.
SVOD Market Shares (Jan–Sep 2025) – Paramount Acquiring WBD:
- An acquisition of Warner Bros. Discovery by Paramount would create a combined entity holding approximately 20%oftheU.S.SVODmarket, based on the current shares of Paramount+(7%) and HBO Max (13%).
- This would place the merged company onparwithNetflix(20%)and just behindPrimeVideo (21%).
Title Streaming Popularity (Jan–Nov 2025) – Share of U.S. Streaming Interest in Studio Films*
- Warner Bros. Discovery titles, which includes New Line Cinema, capture 19% of U.S. movie streaminginteractionsonJustWatch, well ahead of Netflix (4%) and Paramount Pictures (10%).
- A combined Netflix–WarnerBros.Discoveryentity would command 23%ofU.S.filmstreaming interactions on JustWatch for titles produced by their studios, excluding licensed films.
- A Paramount–WarnerBros.Discoverydeal would be even larger, reaching nearlyone-thirdof
U.S. film clickouts (29%).
See appendix for list of most clicked out studio films this year
*Percentage of total U.S. movie-streaming interactions on JustWatch for films produced by Netflix,WarnerBros.Discovery(includingWarnerBros.PicturesandNewLineCinema),and Paramount Pictures. More information on the biggest titles in the Appendix below.
Title Streaming Popularity (Jan–Nov 2025) – Share of U.S. Streaming Interactions on Original Series*
- For original series, HBO(Warner Bros. Discovery) original titles represent 5%of U.S. series streaming interactions, versus 15% for Netflix and 2% for Paramount+.
- A combination of NetflixandHBOoriginalswould result in a considerable 20%shareof TV streaming interactions for their original series (excluding licensed titles).
- Combining Paramount+andHBOoriginalswould yield a 6%share.
*PercentageoftotalU.S.series-streaminginteractionsonJustWatchfororiginalseriesproduced byNetflixandWarnerBros.Discovery(notablyHBOOriginals).Moreinformationonthebiggest titles in the Appendix below.
Appendix
U.S. SVOD Market Shares – January to September 2025:
Based on U.S. filter and streaming interactions on JustWatch, here’s the current breakdown of the U.S. subscription video-on-demand (SVOD) market as of September 2025:
| Platform | SVODMarketShare(Q1–Q32025) |
| Prime Video | 21% |
| Netflix | 20% |
| Disney+ | 13% |
| HBO Max | 13% |
| Hulu | 11% |
| AppleTV+ | 8% |
| Paramount+ | 7% |
| Peacock Premium | 2% |
| Starz | 1% |
| Others | 4% |
U.S. Streaming Popularity – Studio Films
Based on total U.S. SVOD movie streaming interactions on JustWatch between January 1, 2025 and November 11, 2025 for titles produced by selected studios.
| Studio | %ofTotalU.S.StreamingInteractionsin2025 |
| Warner Bros. Pictures | 13% |
| Paramount Pictures | 10% |
| New Line Cinema | 6% |
| Netflix | 4% |
| Other | 67% |
U.S. Streaming Popularity – Original Series
Based on U.S. SVOD streaming interactions on JustWatch between January 1, 2025 and November 11, 2025 for original programming.
| Network | %ofTotalStreamingInteractionsin2025 |
| Netflix | 15% |
| HBO | 5% |
| Paramount+ | 2% |
| Other | 78% |
Top Performing Films and Original Series
The following were the streaming titles with the most U.S. streaming interactions from Warner Bros Discovery owned studios on JustWatch from January 1, 2025 to November 11, 2025.
Most Popular Warner Bros. Discovery Studio Films on SVOD Streamingin 2025
| Studio | Title | Clickout Rank 2025 |
| Warner Bros. Pictures | Sinners | 1 |
| Warner Bros. Pictures | A Minecraft Movie | 2 |
| New Line Cinema | Final Destination Bloodlines | 3 |
| Paramount Pictures | Sonic the Hedgehog 3 | 4 |
| Netflix | KPop Demon Hunters | 5 |
| New Line Cinema | Weapons | 6 |
| Paramount Pictures | Mission: Impossible – The Final Reckoning | 7 |
| Warner Bros. Pictures | Harry Potter and the Philosopher’s Stone | 8 |
| Paramount Pictures | Gladiator II | 9 |
| Warner Bros. Pictures | Mickey 17 | 10 |
Most Popular Warner Bros. Discovery Original Series
| Platform | Title | Clickout Rank 2025 |
| Netflix | Squid Game | 1 |
| HBO | The Last of Us | 2 |
| HBO | The White Lotus | 3 |
| Netflix | Wednesday | 4 |
| HBO | Game of Thrones | 5 |
| HBO | Euphoria | 6 |
| Netflix | Ginny & Georgia | 7 |
| Netflix | Stranger Things | 8 |
| Paramount+ | MobLand | 9 |
| HBO | IT: Welcome to Derry | 10 |
Attribution
When referencing this data, please credit JustWatch and link to: https://www.justwatch.com/us/press/netflix-paramount-warner-bros
Methodology
JustWatch serves 60M global monthly users on our app and websites.
SVOD Market Shares
SVOD market shares are calculated using engagement data from our website, mobile apps, and TV apps.
U.S. user interest is measured through actions such as:
- Adding movies or shows to a watchlist
- Clickingoutto a streaming platform
- Filteringby multiple streaming services
- Marking titles as “seen”
SVOD Market Share Interactions were measured between January 1, 2025 and September 30, 2025.
Title Streaming Popularity
Findings are based on U.S. SVOD streaming interactions between January 1, 2025 and November 11, 2025. Production company attribution is based on JustWatch metadata and may not account for local licensing variations. Co-productions were counted for each studio, so totals across studios may include overlap. In total, the analysis covers 6,720 films and 2,900 original television series produced between 1918 to 2025.
The dataset was collected on November 12, 2025.
About JustWatch
JustWatch is the world’s largest streaming guide, serving 60 million users across 140 countries. It aggregates movies, series, and sports from hundreds of platforms, helping fans quickly see where to watch legally and discover their next favorite title. Headquartered in Berlin, Germany, JustWatch builds products that make streaming simpler, smarter, and more fun
