• by Wayne Friedman , 2 hours ago

Building on its “must have” status among streaming platforms, Netflix continues to tally the lowest ‘churn’ rate of any major premium service -- at just 2% for the month of May, according to Antenna.

Netflix has been at this 2% level for the last 12 months.

The subscription business researcher says Disney+ comes next at 3%, followed by Hulu (4%). Churn rate is primarily determined by cancellations as calculated by market analysts.

Antenna defines churn here as cancellations in a given month divided by subscribers at the end of the previous month. It says churn is counted when a subscription lapses or when there is active customer cancellation.

Paramount+, Apple TV, Discovery+ and HBO Max are next at 5%. Peacock is at 7%, while Starz comes in at 8%. The overall “weighted” churn of nine premium services is at 4%.

In terms of “sign-ups” -- new or returning subscribers -- the top two strongest-performing services of the last 12-month period have been Paramount+ and Peacock.

Paramount+ has averaged 2.5 million over that period, due to big popular entertainment programming such as “Landman” as well as NFL regular season and playoff games airing.

Peacock is close behind, 2.4 million signups. In February it aired the 2026 Milan Cortina Olympics, and the Super Bowl. In that month, it scored the most single monthly number of signups among any of the premium services, at 4.9 million. It also airs NFL games.

Hulu has been in third place when looking at average signups -- 2.3 million. HBO Max (2.08 million), Apple TV (2.05 million), and Disney+ (2.04 million) were next.

Netflix remains the overall leader with 89.6 million U.S. streaming subscribers, according to industry estimates. Analysts say Netflix remains a core channel -- a “must have” -- for consumers when it comes to streaming.