The battle for dominance in streaming original content has intensified, reshaping the entertainment industry landscape. As we dive into the latest trends, it’s clear that the competitive state of streaming originals is more dynamic than ever. In 2025, streaming platforms have not only expanded their reach but also altered viewing habits, marking a new era in how audiences consume original shows and films.
Now that the full-year numbers are in, the state of the U.S. market for streaming original TV shows and movies in 2025 can be truly understood.
As explored in Luminate’s newly released “Film & TV Year-End Report,” the previous 12 months revealed unexpected trends. The Variety podcast “Strictly Business” recently discussed these insights with the report’s lead author, Luminate analyst Tyler Aquilina.
The Rise in Streaming Originals Consumption
The total volume of original content consumption on the leading streaming platforms in the U.S. soared in 2025. After a few years of stagnant growth between 21 and 22 billion hours watched, there was an impressive 18% year-over-year increase—21% specifically for series. “What was really notable about 2025 was that there were just more massive streaming hits across more platforms than we’ve seen in the past,” said Aquilina, citing examples like HBO Max’s “The Pitt” and Paramount Plus’ “Landman.”
Unscripted Content and Shifting Preferences
For the first time, the most-watched series wasn’t on Netflix nor scripted. This title went to “Love Island USA,” surpassing competition with approximately 18 billion minutes watched, despite Peacock’s smaller distribution network. Meanwhile, “Heated Rivalry”—an acquisition rather than an original—started gaining traction on HBO Max this year. “The numbers on ‘Heated Rivalry,’ they are good for the type of show that it is, but that was just nowhere close to top 10 levels in terms of the engagement that it’s generating,” said Aquilina.
The production volume of unscripted content saw significant declines across almost all subgenres, such as true crime and cooking shows. The number of unscripted programs ordered across linear and streaming fell by an astounding 31%. The only exception was sports-themed docuseries, which experienced a slight increase in 2025.
Competition Tightens Among Streaming Giants
Though Netflix remains a leader, streaming rivals made considerable strides in 2025, tightening the competitive state of streaming originals. Surprisingly, the surge in original-content viewing wasn’t led by Netflix. As its market share slipped from 63% in 2023 and 2024 to 59% in 2025, platforms like Prime Video, Apple TV, and HBO Max gained ground. Netflix had fewer top entries than before in the year’s top 10 and 20 hits.
Additionally, original streaming movies gained ground against theatrically released films in the SVOD window. Unlike previous years, where nine out of the top ten watched movies were theatricals, in 2025, four Netflix originals featured prominently among the top rankings.
(Pictured: “The Pitt”)
“Strictly Business” is Variety’s weekly podcast featuring discussions with industry leaders about the media and entertainment business. (Please click here to subscribe to our free newsletter.) New episodes are available every Wednesday on Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud, and more.
