Netflix, Inc. (NASDAQ:NFLX) is facing stiff competition from Prime Video, a video streaming service offered by Amazon.com, Inc. (NASDAQ:AMZN), in Europe, according to a new report.
Data gathered by Parrot Analytics reveals that Amazon Prime Video is becoming more popular than Netflix in Europe, Variety reported.
According to the report, the average demand for Netflix content fell 45% than Amazon content between January and April of 2017 across 20 major European markets. During the same period last year, Netflix content had 235% more demand than Amazon content, according to Parrot Analytics.
The average demand for Netflix content dropped by 32%, while demand for Amazon content jumped 57% within the last year.
Parrot Analytics, which presented the data at the TV Leaders Summit in Paris last week, said that it used different sets of data – including video-streaming consumption, social media, blog platforms and online piracy – for its study of the video streaming content demand.
Meanwhile, Bruce Tuchman, former president of AMC Global and Sundance Global and a board member of Parrot Analytics, believes that streaming services are becoming more popular and soon generate more viewing, ratings, and ad revenues than cable and TV.
At the end of 2016, Amazon launched its video streaming service worldwide, except for Mainland China, Iran, North Korea, Syria, and Crimea.
Last month, Amazon.com, Inc. (NASDAQ:AMZN) announced that it is adding live television channels to its Prime Video service. Users will be able to enjoy popular channels such as Discovery and Eurosport for an extra fee. According to the company, users won’t have to pay for a bundle of channels but they can subscribe to their favorite channels individually.
Netflix, Inc. (NASDAQ:NFLX) currently leads the video streaming market. As of April 2017, the streaming service has more than 98 million subscribers worldwide, including more than 50 million in the United States. Netflix is available worldwide, except for mainland China, Crimea, North Korea, and Syria.