Streaming Subscriptions Have Overtaken Linear in Revenue Share

• Streaming services surpassed traditional TV in subscription revenue share in 2024. By 2028, traditional TV will account for only one-third of total video subscription revenue in the U.S.
• Netflix and Disney+ lead the streaming market in revenue. Netflix is forecasted to generate $17.12 billion in U.S. subscription revenues in 2025, while Disney+ and its many platforms will collectively earn nearly $10 billion.
• Digital platforms are gaining ground in live sports viewership. By 2027, there will be 52 million more digital sports viewers than traditional TV sports viewers in the U.S.
• CTV ad spending is growing faster than subscription revenues. In 2025, U.S. CTV ad spending will rise by 15.8% year-over-year, compared to a 10.6% growth rate for streaming subscription revenues.

Streaming services have officially overtaken traditional TV in subscription revenues, with 2024 marking the first year traditional TV makes up less than 50% of the total; by 2028, that share is expected to drop to about one-third. In contrast, streaming platforms like Netflix and Disney+ continue to generate even more income, with Netflix alone forecasted to earn over $17 billion in U.S. subscription revenue in 2025. Digital pay TV services, such as YouTube TV and Sling, are also seeing growth, with their share of subscription revenues projected to rise to 15.4% by 2028.

Advertising on Connected TV is also accelerating — and even faster than subscription revenues. In 2025, CTV ad spending is expected to increase by 15.8% year-over-year, compared to subscription revenue’s expected 10.6% rise. Live sports are a major driver of this growth, with streaming platforms securing exclusive rights to high-demand events like NFL playoff games. This shift is drawing viewers away from traditional TV and toward digital services, with digital sports viewers expected to surpass traditional TV sports viewers by a whopping 52 million in 2027. Streaming isn’t just gaining ground — it’s becoming the dominant force in the video landscape.

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