As we get ready to move on from 2023, Reelgood’s 2023 Year in Streaming report gives an in-depth look at the streaming industry, highlighting key trends and insights into viewer habits, catalog sizes and genres of popular services, and the most beloved titles of the year.
This first-ever end-of-year report from Reelgood happens as the video streaming business shows it is more dynamic than ever. Not only did two simultaneous Hollywood labor stoppages halt film and TV production and roil the industry, but major suppliers initiated significant cutbacks in the amount of movies and shows they made, as well as the size of their streaming catalogs.
Meanwhile, consumers in the U.S. — who didn’t cut back at all on their streaming demand — turned, the report reveals, “to legacy programming and internationally produced content to fill the production void. All the while, the distribution of content became a bit destabilized, as entertainment companies reprioritized the growth of their own platforms while re-embarking on aggressive distribution to third-party platforms including Netflix.”
According to the report “Consumers turned to older titles in 2023, with some studio suppliers cutting back on content, and Hollywood’s production engine grinding to a stop during a summer of writer and actor strikes. Through October, 51% of user interactions for movies on Reelgood, and 35% of engagements for TV shows, were for titles that were at least eight years old.”
The report also reveals that “despite a pullback of more than 300 NBCUniversal titles, Hulu saw its overall catalog increase significantly, adding movies and shows to its library while preparing to merge with the Disney+ app in 2024. Meanwhile, Paramount+ significantly scaled back its movie catalog in 2023, as it and other studio suppliers look to save on things like taxes and residuals.”
The 14-page report spotlights several key trends that emerged amidst these disruptive circumstances. Based on quality data and analysis, this end-of-year report signals Reelgood’s commitment as the company continues to serve the fast-changing video entertainment industry and aims to remain a reliable source of insight, ready to help you navigate the future.
Reelgood’s real-time streaming data and Al platform looks at the parameters of each piece of content and accurately matches titles in real-time across more than 200 streaming services and millions of movies, shows, and episodes. Beyond serving as a useful compass for ongoing business trends in the streaming video business, Reelgood’s rankings deliver compelling programming based snapshots of which titles are being searched for and engaged with most by our users.
The company notes that this year, Reelgood “was the source consumers turned to when they heard about an exciting new zombie show on Max. They clicked on our platform in droves when a strange action-adventure-fantasy film fueled by Chinese mysticism won seven Oscars. And they continued to use Reelgood to sort out the complicated distribution for one of TV’s most popular shows, ‘Yellowstone’.”
Follow the link to download the full report 2023 Year in Streaming.