Our data showed massive growth for the streaming industry in the first half of 2020. Premium SVOD subscribers were up 34% YoY, and up 4% vs the end of Q1.
Two-thirds of the industry growth came from Disney+, which now accounts for 17% of Premium SVOD subscriptions. While CBS All Access (+32%), Starz (+26%), Showtime (+24%), and Hulu (+15%) all grew at healthy rates YoY, the overall Premium SVOD space grew 11% absent Disney+.
COVID-19 inspired an enormous amount of experimentation in the Premium SVOD category in Q2. Sign-ups (which include free trials) were up a staggering 128% YoY, however, the impact to overall subscriber numbers was muted, as average Trial Conversion Rates dropped to 65% from 69% a year ago, and average Churn Rates increased to 5.2% from 4.1%.
Showtime felt the biggest impact of this phenomenon. Sign-ups increased by 182%, but the service had the highest category Churn Rate (10%) and the second-lowest category Trial Conversion Rate (55%).
The result: Showtime Subscribers were up a more modest 24% than the 182% increase in Sign-ups may have predicted.
