Hulu is gaining on Netflix in a key demographic, but is still far behind

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Hulu is gaining ground among teens in how much video they consume on a daily basis.
Hulu rose from 5.2% in fall 2018 to 6.9% in spring 2019 in daily video consumption, according to a Piper Jaffray report. It gained more than any other major service in the past six months.
Netflix still leads by a wide margin, though, at nearly 37%.

Netflix is the teen-streaming champion, but Hulu has been gaining ground in key ways.

In a report from Piper Jaffray released on Monday, Hulu gained the most ground among teenagers in how much video they consume on a daily basis. Hulu rose from 5.2% in fall 2018 to 6.9% in spring 2019 in daily video consumption with teens, according to the report.

That was the largest jump of any major service.

Netflix still leads by a wide margin, though. The streaming giant takes up 36.8% of teens' daily video consumption. It's a small drop from 37.6% in fall 2018, but the platform is still ahead of the runner-up, YouTube, which is at 31.9% (it fell slightly from 33.1%).

Hulu has also gained on Netflix in US subscribers. It exceeded expectations in 2018 and added 8 million users last year for 48% year-over-year growth. Hulu now has 25 million US subscribers, while Netflix has 60 million.

Cable TV continues to plummet among teens, dropping from 16.4% of daily video consumption in fall 2018 to 14.2% now. It has fallen steadily since 2015, when it was at almost 30%.

Amazon remains stagnant, barely gaining ground since 2016 when it made up 3% of teens' daily video consumption. It now makes up 3.4%. Amazon hopes to change that with a focus on big-budget TV. Amazon paid $250 million for the rights to "Lord of the Rings" in 2017 to develop a TV series and will spend up to $6 billion this year on original content, according to CNBC.

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