The U.S. video streaming market was valued at approximately USD 18.79 billion in 2023, and it is projected to expand at a strong compound annual growth rate (CAGR) of 19.8% during the forecast period from 2024 to 2030. This significant growth trajectory is being shaped by several influential trends, including the widespread penetration of the internet, changing consumer content preferences, and the rapid deployment of 5G services across the country. The arrival of 5G technology—with its hallmark features of low latency and extremely high data transfer speeds—is proving to be a game-changer, enabling users to experience faster download times, improved streaming performance, and seamless video playback without buffering interruptions.

A notable shift in consumer behavior has also been observed, with an increasing number of households opting for online video services such as Netflix, Hulu, Disney+, and Amazon Prime over traditional multichannel television subscriptions. This transition suggests that streaming platforms may soon surpass traditional TV services in terms of household adoption. Contributing to this surge is the availability of premium content, including high-profile theatrical releases and digitally streamed sports events, which have made video streaming platforms particularly attractive to modern consumers seeking both convenience and quality.

The evolution in viewing preferences, with a growing appetite for 4K, 8K, Full HD, and HD video content, has further propelled the expansion of the U.S. video streaming market. According to global projections, the average video data consumption per smartphone is expected to reach approximately 16.3 GB by the end of 2024, underscoring the increasing reliance on mobile devices for high-quality video content consumption.

The widespread integration of streaming services into American households has encouraged major industry players to invest heavily in the market. For example, Netflix, a global leader in streaming services, reported a substantial 260.28 million paid memberships worldwide as of December 31, 2023. Of this total, the U.S. and Canada together accounted for around 80.13 million subscribers, highlighting the significant role that the North American region plays in the company's overall subscriber base.

These combined factors—ranging from technological advancements to consumer-driven demand for high-resolution content—are expected to continue fueling the rapid expansion and transformation of the U.S. video streaming industry in the years ahead.

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Below are some frequently asked questions related to the U.S. video streaming market.

1. Who are the key players in U.S. video streaming market?

Some key players operating in the U.S. video streaming market include Amazon Web Services, Inc.; Apple Inc.; Cisco Systems, Inc.; Google LLC; Kaltura, Inc.; Netflix, Inc.; International Business Machine Corporation (IBM Cloud Video); Wowza Media Systems, LLC; Hulu, LLC (Walt Disney)

2. What are the factors driving the U.S. video streaming market?

Key factors that are driving the market growth include Technology advancements in machine learning and AI, and soaring Internet Penetration

3. How big is the U.S. video streaming market?

The global U.S. video streaming market size was estimated at USD 18.79 billion in 2023 and is expected to reach USD 22.42 billion in 2024.

4. What is the U.S. video streaming market growth?

The global U.S. video streaming market is expected to grow at a compound annual growth rate of 19.8% from 2024 to 2030 to reach USD 66.41 billion by 2030.

5. Which segment accounted for the largest U.S. video streaming market share?

Over-the-top (OTT) segment dominated the U.S. video streaming market with a share of 28.9% in 2019. This is attributable to the predominant advancement in IT infrastructure and expanding footfall of 5G have fared well for the market growth.

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