A new report from MX8 Labs is shedding light on not just where viewers are streaming, but why they’re making the choices they do. The 2024 longitudinal study tracked over 7,000 U.S. consumers to analyze their viewing habits across major streaming platforms—both subscription-based (SVOD) and free, ad-supported (FAST) services.
Netflix Remains King, But There’s Room to Grow
Netflix continues to dominate, ranking as the most-watched streaming service among survey respondents. It also topped the charts for overall experience, content appeal, and ad experience—three critical factors in viewer satisfaction. But surprisingly, while 72% of respondents said they watch Netflix, that number suggests the platform still has untapped potential to expand its audience.
Meanwhile, Prime Video and YouTube tied for second place, with 63% of surveyed viewers watching these platforms, followed by Hulu at 56%.
FAST Services Gain Ground: Tubi Takes the Throne
For viewers looking for free, ad-supported content, Tubi is leading the pack. The platform, which is hosting this year’s Super Bowl, was watched by 30% of respondents, making it the top FAST service. The Roku Channel followed at 25%, while Pluto TV rounded out the top three with 20%.
Interestingly, Tubi’s popularity was even higher among Black viewers (53%) and Samsung smartphone users (38%), showing how different demographics gravitate toward certain services.
What Viewers Want: Movies, Originals, and Sports (Depending on the Platform)
When it comes to content preferences, movies ranked highest across all platforms, with original series also performing well—particularly on Netflix. However, the type of content that resonates most depends on the platform:
- Peacock saw more success with network TV series than with originals.
- Discovery+ over-indexed for documentaries, making it the go-to for nonfiction content.
- Sports ranked above average on Peacock and Samsung TV Plus, showing that viewers still turn to these platforms for live or replayed sports content.
Ad-Supported Tiers: Who’s Watching and Who’s Paying Attention?
With more platforms introducing ad-supported tiers, the question remains—are viewers actually paying attention to those ads? The report found that:
- Disney+ had the lowest rate of ad non-recall (21%), meaning viewers were more likely to remember brands advertised on the platform.
- Netflix and Hulu led in ad recall, with 27% of respondents able to name brands they’d seen advertised.
- Paramount+ performed best with younger viewers (ages 18-24), with 37% of this group recalling specific brands, compared to the 22% overall average.
However, while ads are a necessary trade-off for free or lower-cost streaming, viewers still find ad breaks more annoying than engaging across the board.
Younger Viewers and Subscription Choices
One of the most interesting takeaways was how younger viewers (18-24) engage with streaming differently than the general audience.
- Prime Video underperformed with this age group, despite ranking well across all demographics.
- Awareness of ad-free tiers was slightly lower among young viewers—only 75% of 18-24-year-olds knew about Paramount+’s ad-free option, compared to 83% overall.
- Cost remains a major factor—only 38% of young viewers chose ad-supported tiers for cost savings, compared to 48% of the total audience.
Takeaways for the Streaming Industry
The report makes it clear: the battle for viewers isn’t just about content libraries anymore. Platforms must focus on user experience, ad strategy, and demographic preferences to retain and grow their audiences.
- Movies remain the top draw, but different platforms cater to different tastes—Peacock for network TV, Discovery+ for documentaries, and Samsung TV Plus for sports.
- Ad-supported streaming is here to stay, but platforms must work to make ads less disruptive and more engaging.
- FAST services like Tubi and The Roku Channelcontinue to rise, signaling that viewers are open to ad-supported content if the experience is right.
As streaming continues to evolve, platforms will need to adapt—not just to how many people are watching, but why they’re watching in the first place.