Study: Netflix, Hulu, Amazon Prime Are More Complementary Than Competitive

Netflix, Inc. NFLX is in direct competition with Amazon.com, Inc. AMZN's Prime streaming service and Hulu — right?

Technically, yes. But a new research report suggests the three major video streaming services are more complementary than competitive.

What You Need To Know

A report by Hub Entertainment Research found that to some extent Netflix, Amazon Prime and Hulu each satisfy a different need for customers, Statista said. For example, a survey asked consumers "how is your time watching the following platforms divided across these types of content?" and found the following. 

• Original shows: Netflix at 37 percent, Hulu at 24 percent and Amazon Prime at 27 percent.
• Non-original shows: Netflix at 34 percent, Hulu at 54 percent and Amazon Prime at 34 percent.
• Movies: Netflix at 29 percent, Hulu at 22 percent and Amazon Prime at 39 percent.

Why It's Important

Investors assuming that customers pick one or even two of the three major streaming platforms could be mistaken. The findings shows that consumers are comfortable with paying and subscribing to multiple streaming platforms.

What's Next?

Netflix already reported encouraging earnings and Amazon posted an earnings beat Thursday. 

You will find more statistics at Statista.

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Photo courtesy of Netflix.