• by Wayne Friedman , February 25, 2026

Premium streaming TV platforms' subscription growth dramatically slowed down to just 7% in at the end of 2025 to 18 million new additions, according to Antenna.

The subscription research company says this is a major decline from the gain of 27 million at the end of the fourth quarter in 2024.

There were roughly 280 million U.S. premium streaming subscribers at the end of 2025, with major players' share of subscriptions remaining more or less the same.

Netflix has a leading 25% share (down from 26% the year before), while Hulu remained the same at 15%, followed by Disney+ at 14% (vs. 13% in 2024), Paramount+ at 13% (vs. 13% the year before), Peacock, 10% (vs. 11%); and HBO Max at 9% (vs. 8%).

Good news for streamers is "churn" -- the rate of subscription cancellation in relation to the addition of subscriptions, remained nearly the same -- at 4.6% in 2025 versus 4.8% the year before.

Analyst says this maturity in the business has been expected, as well as the increased in bundling of subscriptions.

For example, Antenna says there are 22 new subscription bundles now available for purchase. Bundle subscribers grew 40% in 2025 to 71 million, now accounting for 27% of all subscriptions. Disney+ has seen large benefits as 77% of its subscription comes from bundling.

Antenna notes that in 2025, Disney+ and Hulu experienced a dramatic short-term rise in subscription cancellations -- at 7.8% and 9.6%, respectively -- as a result of the period when Disney pulled off the “Jimmy Kimmel Live” show for a week following his controversial comments/

Some of the biggest subscription gains in 2025 occurred with the premiere or new-season starts of TV shows such as Peacock’s “Love Island USA” and Paramount+ “Landman,” where those services added 1.3 million and 915,000 in the first 90 days after their release.

A shorter three-day spike around the start of Paramount+'s $7.7 billion multiyear deal for “UFC 324” added 1.0 million over a late January weekend.