The streaming wars are one of the more important area of global technology and entertainment. As the world shifts from linear television to streaming, on-demand video, this page will attempt to capture the key data of the major players of the streaming wars. These include Netflix, Disney, AT&T and more. We will update this page continuously and add to it.
|Service||Total Subscribers (Last Update)||ARPU||Est. Monthly Subscription Revenue||Net Adds Recent Quarter|
|Netflix||207.63 million (Apr 20, 2021)||$11.52||$2.39 billion||3.98 million (2021 Q1)|
|Disney+||103.6 million (May 13, 2021)||$3.99||$413.36 million||8.7 million (2021 Q2)|
|HBO Max||9.7 million (Apr 23, 2021)*||$11.72*||$113.68 million||2.7 million (2021 Q1)|
*These numbers are specific to the HBO Max streaming service. AT&T also reports that when you combine both HBO Max and HBO, they have 44.2 US subscribers, and nearly 64 million global subscribers. Subscribers & ARPU data above is specific to HBO Max.
Netflix ARPU (Average Revenue Per User)
How do we calculate an overall ARPU for Netflix? Netflix provides the average revenue per membership for its various regions along with number of subscribers. We weight the number of subscribers and provide a weighted average based on this data. As a result, we can determine that the Netflix ARPU globally as of Q1 2021 is $11.52.
See the calculation below.
|Region||Subscribers||ARPU||% of Overall Subs|
If we add up the weighted regional ARPU values as follows: ($14.25 x 35.82%) + ($11.56 x 32.99%) + ($7.39 x 18.25%) + ($9.71 x 12.94%) = $11.52.
Disney+ ARPU (Average Revenue Per User)
While Disney+’s growth has been impressive, you can’t learn the entire story without also considering average revenue per user. In the latest quarter (2021 Q2), Disney reported a $3.99 ARPU for Disney+ across 103.6 million subscribers. This compares to Netflix’s ARPU of $11.52 across almost 208 million subscribers.
How Disney+ ARPU has evolved since launch based on Disney Quarterly reports:
- 2021 Q2: $3.99
- 2021 Q1: $4.03
- 2020 Q4: $4.52
- 2020 Q3: $4.62
- 2020 Q2: $5.63
- 2020 Q1: $5.56