Together, these companies represent 51% of the total global content market, up from 47% in 2020. This increase in spending has had a significant impact on TV and film production and comes despite recent economic pressures and changing consumer preferences in the industry.

Despite announced cuts to its linear and theatrical brands, Disney remains the largest contributor to the media landscape, accounting for 14% of global investment in TV and film content in 2024. This is supported by the full acquisition of Hulu at the start of 2024, which will add an additional $9 billion to Disney's total spend.

Spending on original programming has been a priority for these top studios, with more than $56 billion, or 45% of their combined spend, allocated to original content over the past two years.

Netflix, the largest investor in global streaming content, has consistently maintained an annual spend of $14.5 billion on both original and acquired programs. This figure is expected to increase in 2025, following Netflix's recent acquisition of sports rights, including NFL games and WWE content, which will broaden its content offering and appeal.

Unique among the major players, Google's YouTube has achieved significant market influence by investing in creator partnerships and revenue-sharing programs rather than traditional TV and film production. This approach has made YouTube the third largest contributor to global content spending, as it continues to secure deals with high-profile content creators and expand its global reach.

In total, $40 billion of the $126 billion is currently being spent on subscription streaming services from these six operators (including Disney+, Peacock and Paramount+). This highlights the growing importance of these platforms as audiences move away from linear TV in favor of the convenience and extensive catalogues available via streaming. With a wide range of on-demand content, these platforms have attracted significant audiences as convenience and variety remain top priorities for consumers.

Despite the production stoppages caused by the US writers' and actors' strikes, streamers have continued to support the production landscape by moving towards more global strategies. International (non-US originated) programming will account for 40% of Paramount+'s and 52% of Netflix's spending in 2024. Such content is typically cheaper to produce and is effective in motivating new and niche audiences to subscribe to a platform, supporting revenues.

Peter Ingram, Research Manager of Ampere Analysis commented on the report, highlighted the importance of investment in content by leading movie studios and streaming video platforms, which he believes will remain key to retaining audiences. He added that the content landscape will see a low level of growth in 2024 as production schedules return to normal following the disruption caused by the pandemic and writers' and actors' strikes.

In these challenging times, streaming platforms are holding up quite well. The major players are looking for ways to maintain revenue growth and stabilize their position in the market. Streaming is clearly on its way to wiping out cable TV and taking over its audience. In my last post I talked about the very different ideas platforms have to attract viewers and subscribers. In summary, the streaming market is at a very important moment in history. Content providers are taking their places on the list of major players. Those who get there now should be able to stay at the top for years to come, grow and deliver serious profits to shareholders and employees.

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