Fresh insights into Australia’s streaming market show viewing habits are shifting again, with Prime Video and Paramount+ emerging as the clear Q4 winners as households rethink how many services they really need.
The latest Entertainment on Demand insights from Worldpanel by Numerator point to growing price pressure across the category, a rapid rise in ad supported tiers, and early signs that subscription stacking may be levelling out after years of steady growth.
While total household spend has continued to edge upward, rising subscription prices and tighter controls on password sharing across major streamers appear to be pushing Australians to trade down rather than add yet another service.
– Advertisement –
Key Q4 2025 Australian VoD Insights:
- The number of Australian households with at least one streaming service fell slightly to 8.0 million, driven by declines in paid adfree subscriptions.
- Stacking rates stabilised at 3.3 services per household, down from the Q2 peak of 3.4.
- Nearly half of VoD households now have at least one AVoD subscription, up from 37% a year earlier.
- AVoD tiers accounted for a third of all new sign-ups, highest among Prime Video (65%), followed by HBO Max and Paramount+.
- Total category monthly spend rose to $52 per household, up from $50 a year earlier despite migration to cheaper tiers.
- Prime Video and Paramount+ held the largest share of new subscribers (13% each), followed by Stan at 11%.
- Cricket became the most-watched live sport, driven by international matches and The Ashes, with strong performance from 7Plus and Kayo.
- Stranger Things was Australia’s most-watched and mostenjoyed title of the quarter, followed by Paramount+’s Landman.
Prime Video once again led new subscriber acquisitions during the October to December period, a position it has now held consistently for four years, supported by a mix of major international Originals and growing interest in local titles such as The Narrow Road to the Deep North, Top End Bub and The Test.
Boosted by Amazon’s peak retail activity around Black Friday and Boxing Day, Prime household penetration climbed to 37%, with stronger retention helping churn fall to 6%, matching Netflix at the lowest level in the market.
Paramount+ also maintained strong momentum in the final quarter, recording 13% year on year growth and remaining among the leading platforms for new subscriber share in Q4, as its premium drama slate continued to cut through in a crowded market.
Those premium series include titles such as Landman and Tulsa King, which continued to drive sign ups, while value for money also emerged as a growing motivator, particularly as half of new subscribers opted for the service’s lower cost ad supported tier starting at $7.99 per month.
Stranger Things led Q4 as Australia’s most watched and most enjoyed title, underscoring Netflix’s viewing dominance even as rival platforms gained ground in subscriber growth (image – Netflix)
Since launching locally in late March 2025, HBO Max has continued its rapid expansion, lifting active penetration to 12% of VoD households by the end of the year, or up to 23% when Foxtel access is included.
While this positions the platform to potentially challenge more established services in reach, its longer term shape in Australia remains uncertain amid Netflix’s proposed acquisition of the streamer, its studio and wider content catalogue.
– Advertisement –
Across the local market, the shift toward cheaper ad supported tiers is becoming harder to ignore, particularly those offering lighter ad loads than traditional broadcast, even as demand remains strong for tentpole content and live sport.
Stranger Things topped the quarter as Australia’s most watched and most enjoyed title, followed closely by Paramount+ favourite Landman, while cricket emerged as the most watched live sport driven by international matches and The Ashes across 7Plus and Kayo.
With more Australians reassessing how many streaming services they actually need, the results raise a familiar question many of us are increasingly having with friends, family and peers.
Which platforms are you currently subscribed to, which ones have you dropped, and what’s keeping you watching right now? Let us know in the comments below!
– Advertisement –
