US Giants Now Control 80% of Europe’s Streaming Market

A new study reveals a massive power shift in European media, where US-backed companies like Netflix and YouTube now capture over 80% of all revenue from video subscriptions and online ads. The data shows a market rapidly consolidating under American control.

• The great reversal: While European-owned groups still account for 56% of revenues across the top 100 audiovisual companies, their share has plummeted 11 percentage points since 2016. In contrast, US players expanded their share by 9% in the same period, a surge almost entirely thanks to the explosion of pure-play streaming services and video platforms.

• An island of their own: In advertising, the story is much the same. The shift has left legacy European broadcasters stranded on the shrinking island of traditional TV advertising, where they still capture about half the revenue. Meanwhile, YouTube leads an online video ad business that is now nearly on par with the entire traditional TV ad space.

• Building the moat: Strategic expansion also cements the dominance of American firms. Netflix, for instance, is pushing into the living room with a new slate of party games, turning its streaming service into a multi-faceted entertainment hub that solidifies its ecosystem.

The report confirms that while European companies still hold ground in traditional media, the future of the continent's high-growth digital entertainment market—and the revenue that comes with it—is increasingly American. The report's findings are sparking conversation across the industry, with media professionals weighing in on the long-term implications for European media.