16th Annual Streaming Survey, More Is More

研报英文原文证据摘录

16th Annual Streaming Survey, More Is More

Foundation

June 25, 2026 09:18 AM GMT

Morgan Stanley & Co. LLCMAI & The Entertainment Industry | North America Sean Diffley, CFA

Equity Analyst

16th Annual Streaming Survey, Sean.DIFFLEY@morganstanley.comBrian Nowak, CFA +1 212 761-5868

Brian.Nowak@morganstanley.com +1 212 761-3365

More Is More Erik W Woodring

Erik.Woodring@morganstanley.com +1 212 296-8083

Our 16th annual survey of ~3K American consumers suggests a Daniel Duran

competitive, but growing streaming landscape with AMZN EquityDaniel.Duran@morganstanley.comAnalyst +1 212 761-4822

Prime, NFLX & GOOGL's YouTube showing the strongest Patrick A Ho

engagement & stickiness. The ave HH has >5 services and EquityPatrick.Ho@morganstanley.comAnalyst +1 212 761-2764

watches ~3 hours of content per day, while Sports are Erica Crouser

Data Analyst

increasingly streamed. Erica.Crouser@morganstanley.com +1 212 761-4807M

Key Takeaways

Nearly 90% (21 of 24) of entertainment services surveyed saw y/y increases in

engagement this year, while the big continue to get bigger (AMZN, NFLX &

GOOGL/YT)

NFLX continues to have the strongest net retention score and is perceived to

have the best original content, despite investor concerns over engagement

DIS's ESPN remains the dominant sports platform, while Disney+ and Hulu saw

solid increases in engagement

Paramount+ and HBO Max scored best on having people’s favorite TV shows,

which bodes well for the pro forma PSKY+WBD

META is gaining traction in video with Facebook & Instagram Reels showing the

largest y/y increases in engagement across platforms

Top 10 takeaways from our 16th annual Alphawise streaming survey:

1. More services, more hours… the average US HH has >5 streaming services