The reign of Netflix: One streaming platform to rule them all

SINGAPORE: Though there have been new additions to the streaming world, one has managed to keep its throne by having the largest market share of all the different streaming platforms in Singapore.

According to a recent report by Singapore Business Review, JustWatch reported that Netflix saw a three per cent growth in its market share in the fourth quarter of 2023, making it the streaming platform with the largest market share in Singapore at 31 per cent.

Netflix: King of streaming platforms in Singapore

While Netflix took first place, Amazon’s Prime Video bagged second, with a 24% market share. Like Netflix, it was also recorded to have seen a three per cent growth in market share.

Though Disney+ was reported to have seen a three per cent drop in market share, it followed not so far behind Prime Video, getting third place, with a 21 per cent market share.

HBO GO took fourth place with a market share of 12 per cent, while Apple TV+ was reported to have four per cent.

Read also: 5 binge-worthy K-dramas on Netflix you don’t wanna miss!

Developments in the Singaporean streaming scene 

According to a report by live-streaming specialist Spring Forest Studio, when streaming platforms were just starting out, Singaporeans did not have as many options as they do today.

Besides Netflix, Singaporeans also had the option to subscribe to Toggle, a Mediacorp streaming platform.

However, thanks to digital advancements in internet quality and speed developments, more streaming platforms were introduced to the Singaporean market.

Streaming platforms such as HOOQ, Viu, and iFlix gave them access to regional movies and series. Of course, other players were added to the game, such as Prime Video, Disney+, HBO GO, and Apple TV+.

The article reports that Netflix substantially impacted how Singaporean viewers were enjoying content.

Thanks to its diverse range of movie and series options and user-friendly interface, Netflix quickly became a fan favourite in the country.

This gave rise to changes in the habits of Singaporean viewers. An example is binge-watching, which is when people watch series seasons in one sitting instead of watching one episode a week.

Viewers will be glad to know that Netflix has quite the lineup of releases scheduled for 2024.

Read also: EXO’s Chanyeol hops into new role as “The Frog” in upcoming Netflix series!

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