Video streaming is growing immensely popular globally. According to Statista, only subscription-based video streaming (SVoD) will hit a market size of US$ 95.35 billion in 2023. The market size of all forms of video streaming services taken together is way beyond the 100 billion mark. The growth shown by VoD services like Netflix and Amazon Prime Videos has dazzled the business world in recent years. In the coming years, exclusive and premium video streaming services like Apple TV+ will also grow bigger, along with their conventional counterparts.
As an end user in 2023, you might be confused about which streaming service to subscribe to. Each of these streaming video services offers unique features with different types of signature content. But, no worries, this blog is written to make the task easier for you!
In this blog, we will tell you about the top 10 video streaming services to choose from, their pros and cons, pricing, and future market projections. So, let’s begin!
If you are already aware, please skip this part.
But for those who are still not aware of video streaming services, let me tell you that you are missing out on some amazing entertainment.
A video streaming service lets you access millions of video content online, on-demand, whenever and wherever you want. You can access these platforms through your smartphones, PCs, tablets, and smart TVs too!
Usually, video content creators create video content and upload it on these platforms. You can access this content from the platform, and for that, you might or might not have to pay the subscription fees.
Multiple categories of content are usually available on these streaming platforms. You can watch movies, TV shows, web series, original content, music videos, sports and news broadcasts, like shows, and more!
Now you might be wondering why you should subscribe to a video streaming service. And will it even grow in the future?
Well, in 2017, around 0.61 billion users across the world used one of these streaming services. But, in 2023, around 1.30 billion users are streaming content through one of these services. This number is expected to grow to 1.64 billion by 2027, achieving a penetration rate of 20.6%. Hence, you can see that video streaming platforms will gain more than one billion new users in just 10 years!
Not only users but the overall market size of video streaming services is growing too! In 2017, it was around US$ 27.68 billion. By 2027, the market size is expected to reach around US$ 137 billion.
Hence, one thing is certainly clear, people like it, and it will grow even further in the future.
And there are several reasons for using a video streaming service, like:
Most importantly, you get a variety of options to choose from, depending on your choice.
There are many different types of video streaming services, but the most prominent ones are listed below.
Video-on-Demand means you can access the videos whenever you want. To make that happen, these video-on-demand services pre-record the videos and then upload them on the platform. Hence, you can access these videos whenever you visit their platform. Also, known as VoD services, this is the most widely-used form of streaming services.
Live streaming is a form of streaming where the content is broadcasted as soon as it is created. It is not pre-recorded. Live streaming is growing popular day by day, mainly because anyone can connect with their fans and audience using live broadcasting.
This form of live streaming service is heavily used in the online gaming industry, education industry, music industry, and even for marketing products, along with conventional uses like sports and news live streaming.
Free live and video streaming software delivers content for free. This type of streaming service usually uses advertisements to generate revenues. In the past few years, advertisement revenues have contributed a major chunk of global video streaming revenue.
Sports and e-sports are amongst the most widely streamed live events globally. Such streamings involve large-scale infrastructure, as the video feed is captured through high-resolution cameras from the ground, and then telecasted live over the streaming platforms.
As per the number of subscribers in 2022, the following are the most popular video streaming services:
Streaming Platform | Subscribers (in millions) |
Netflix | 220.60 |
Amazon Prime Videos | 208 |
Disney+ | 137.70 |
Tencent Video | 124 |
iQIYI | 101 |
Youku | 82 |
YouTube Premium | 80 |
HBO Max | 76 |
Paramount+ | 55.90 |
Apple TV+ | 47.62 |
However, popularity cannot be the only parameter when deciding which platform to subscribe to. A lot of other factors, like the quality of present content and upcoming content, global availability, flexibility in pricing plans, etc. also matter a lot.
That is why, after considering all those parameters, we have hand-picked the top 10 video streaming services to subscribe to in 2023.
Netflix was one of the first video streaming and distributed services that started operating back in 2007. Since then, this pioneer has never looked back. With over 220 million subscribers across 190 countries, it is currently the most subscribed video streaming service.
Original content is one of the biggest USPs and strengths of Netflix. In 2022, original content accounted for 50% of Netflix’s content library in the US.
Netflix currently offers the following three pricing plans in the US:
Hulu is an American video streaming service that was launched in October 2007. In 2019, the then-owners of Hulu made an agreement with Disney, by virtue of which, Walt Disney is now the majority stakeholder for Hulu, while Chromecast holds the minority shares. By next year, Disney is expected to acquire Hulu completely.
Alongside their normal live video streaming service, Hulu has also introduced a special Hulu+Live TV package for the cord cutters. It gives you access to multiple TV channels, along with a subscription to Disney+ and ESPN+.
Apple TV+ was launched by Apple as its standalone streaming platform. It can be accessed by all Apple devices, along with some other smartphones and smart TVs. It is known for delivering excellent premium-quality content which is not available on any other platform.
Nowadays, Apple TV+ allows a free trial for 7 days. It means you can access all its content for free for the first 7 days, but you will have to pay the subscription amount after that. Also, if you purchase any new Apple device, you will automatically get Apple TV+ built-in that device with free access for three months.
A subscription to Apple TV+ will cost you US$ 6.99 per month.
Amazon Prime Videos is Amazon’s video streaming platform that can be accessed either as a standalone service or as a part of the Amazon Prime subscription package. You get a lot of benefits when you pay for an Amazon Prime membership. One of these benefits is your access to all the content available on Amazon Prime Video.
But, if you are looking for streaming services, it offers you new and exclusive content, including some movies that are released only on that platform (and not in the theaters).
If you are subscribing only to Amazon Prime Videos, you will have to pay US$ 8.99 per month.
However, if you are planning to buy an Amazon Prime membership, you will have to pay either US$ 14.99 per month or US$ 139 per year.
Disney Plus is a premium streaming service operated by the Walt Disney Company. It offers access to the entire Disney content library, including everything that Disney has produced to date. Hence, it is undoubtedly heaven for Disney fans.
After Disney acquired Star, Hotstar got integrated with Disney Plus to become Disney Plus Hotstar. It currently operates in Eastern countries, especially in the Indian subcontinent.
HBO Max was launched in 2020 and was renamed Max in May 2023. So, in that sense, it is an extremely new service. But, In a very short time, the streaming services have succeeded in making their name amongst the best.
Along with the wide variety of VoD content from the Warner Bros library, HBO Max also gives you access to multiple TV channels like Discovery Channel, HBO, CNN, Cartoon Network, Adult Swim, Animal Planet, Eurosport, etc.
The perfect mix of amazing original content, CBS reruns, and sports content makes this young video streaming service a much-needed one. And nowadays, they have started investing in even more diverse content.
Because of the availability of content that the entire family can watch together, this service is growing in popularity amongst family-oriented viewers. Three-screen access lets you share your access with your other family members. Also, you can enable parental controls.
Discovery Plus gives you access to all episodes of all shows across its network. Hence, it offers very good family-friendly content that can be streamed across 4 profiles simultaneously.
Along with TV shows, it also offers good original content. Their content can be downloaded for offline viewing too.
Peacock gives access to all the NBC shows, including The Office. Also, you can stream premium quality live sports content like the Olympics and more! Also, it has now started streaming newly released movies from Universal Pictures.
You will have to pay US$ 5.99 per month or US$ 59.99 per year.
YouTube TV lets you access multiple live TV channels online, whenever and wherever you want. It is probably the best choice for cord-cutters as it gives access to premium TV channels like ABC, NBC, Fox, ESPN, NFL, and more!
You will have to pay US$ 73 per month.
We have compared the top 10 video streaming services in the table given below.
As the popularity of streaming platforms keeps growing rapidly, new streaming platforms are being launched frequently. If you want to develop your own video streaming platform, then this is definitely the right time.
But for that, you will have to know about the most important features to build, ways to develop your platform, and how you can build one such platform very easily.
There are hundreds of features that can be built, but the best video streaming services often have the features discussed below.
This is probably the most important but most difficult feature. The increasing demand for different types of streaming devices like Smart TVs, gaming consoles, and wearables has made it extremely necessary to develop streaming platforms for multiple devices.
But for a developer, it is not at all easy, as these devices run on different operating systems, and have different sets of rules.
Your end users should be able to develop multiple user profiles. It will help them share their account with family and friends.
Offline viewing helps your users to download the episodes when they are online so that they can access the videos offline, without having to connect to the internet.
Nowadays, clarity of video and audio content is really important. So, your video streaming platforms must be able to stream 4K and HD videos. Also, Dolby Atmos helps elevate the sound quality.
You must offer multiple pricing plans to your customers so that they can choose their plan based on their affordability and needs. Also, you can mix multiple monetization models like subscription-based streaming (SVOD), ad-based streaming, and pay-per-view bundles.
You can develop your own live video streaming platform by following one of the three methods:
To develop your streaming platform using Muvi One, you need to follow the steps given below:
Now, your video streaming platform is ready to be launched! Also, you can enable DRM, chat, and other features as per your needs.
Video streaming platforms have changed the way people consume videos. With the growing trend of cord-cutting, they are slowly taking the place of traditional cable TVs. Nowadays, there are many quality video streaming platforms, but Netflix, Hulu, Apple TV+, Amazon Prime Videos, Disney Plus, and HBO Max are amongst the best video streaming services in 2023.
If you are thinking of developing your own video streaming platform then this is the best time. Using Muvi One, launch your own video streaming service without writing a single line of code, and enjoy 100+ industry-leading features. Sign up to start your 14-day free trial today!
What are video streaming services?
Video streaming services let you stream video and audio content online, over any device including smartphones, smart TVs, PCs, tablets, etc.
How do video streaming services work?
The content creators upload the videos over the video streaming platforms, that the viewers can access at any time. The viewers need to pay either a subscription fee or a specific fee for that particular video (PPV). There are also free video streaming services that earn revenue through advertisements.
What are the top video streaming services to subscribe to in 2023?
The top 10 video streaming services to subscribe to in 2023 are:
Are there different subscription plans available?
Many video streaming services offer multiple subscription plans. Also, some of them offer hybrid plans, which are less costlier as they include some ad-based streaming content.
Can I access regional or international content?
Many video streaming services let you stream content from across the globe. However, some platforms restrict the content based on geographical locations.
Can I download content for offline viewing?
Yes, many video streaming platforms let you download the content for offline viewing.
Written by: Debarpita Banerjee
Debarpita is a Content Writer with Muvi. With around 2 years of experience in content creation, she has worked across industries like SaaS, EdTech, eLearning, AR-VR, and Metaverse. She believes in delivering content that can be of some value to the readers. In her free time, she likes to try her hand at website and app development.
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