What makes streaming unique is that revenue does not only come from subscriptions.
Most top platforms today generate revenue from ads, sports rights, licensing, and global originals, making entertainment a multi-layered business that benefits even when viewers are not binge-watching.
This visualization and explainer focus on the top streaming services by revenue.
It’s based on each company’s report accessed via The Hollywood Reporter as of April 2025.
TL;DR
- Netflix leads the streaming industry in both revenue ($33.7 billion) and profit ($10.4 billion) during the review period.
- Streaming services earn more subscription revenue than traditional pay TV.
5 Top Streaming Platforms by Revenue
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Platform | Country Base | Revenue in billion ($) | Profit in billion ($) |
|---|---|---|---|---|---|---|---|---|
| 1 | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | Netflix | U.S | 33.70 | 10.40 |
| 2 | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | Disney | U.S | 23.30 | 0.57 |
| 3 | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | Warner Bros. Discovery | U.S | 10.30 | 0.68 |
| 4 | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | Paramount Global | U.S | 7.60 | 0.50 |
| 5 | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | emmanuel-ashemiriogwa | 24/02/2026 12:02 PM | NBCUniversal | U.S | 4.90 | 0.10 |
Netflix stands out among others. It has the highest revenue of $33.7 billion and the highest profit of $10.4 billion, indicating that it has made streaming a highly profitable business.
Disney ranks next, with revenue of $23.3 billion, but its profit is lower at $574 million.
This reveals that while Disney attracts many subscribers, its high content and operating costs still reduce its earnings.
The table suggests that in streaming, size matters, but profitability depends on more than revenue alone. Platforms can thrive in the long term if they manage content spending, advertising, and subscriptions efficiently.
Traditional TV Pay vs Video Streaming Revenue
The chart below shows the percentage of video subscriptions in the US by distribution method from 2021 to 2027.
Sources: EMarketer Forecast, November 2024.
Recent industry forecasts indicate a major shift in how video content generates revenue, with streaming services now generating more subscription revenue than traditional pay TV for the first time.
In 2024, traditional TV reported less than half of total U.S. video subscription revenues.
Also, streaming is expected to maintain its lead through 2028 as newer services continue to grow.
This change reflects consumers’ shift away from cable and broadcast packages toward streaming platforms such as Netflix, Disney, and YouTube TV, which offer on-demand convenience and a wide range of content.
Also, digital pay TV (internet-based TV bundles) is expanding, further reducing the share held by traditional linear TV.
The trend suggests that subscription revenue from streaming is now the dominant force in the U.S. video market.
ELI5: Streaming Services By Revenue
Netflix makes the most money in streaming by not only earning significant revenue but also managing costs effectively.
Other platforms show that having a big audience alone does not guarantee high profits.
People are paying more for streaming services than traditional cable or broadcast TV, indicating that viewing habits are changing.
This gap is expected to grow further as more viewers choose streaming over traditional TV for convenience and on-demand content.
Source:
The Hollywood Reporter | EMARKETER