Ad revenue is table stakes for every premium streamer now.
With that in mind, EMARKETER has released a chart mapping the top 10 U.S. streaming TV platforms by ad spend based on 2025 data. Hulu leads the pack, with nearly $4.7 billion in projected 2025 investment. Meanwhile, the top-three is rounded out by Amazon Prime Video at $3.04 billion and Peacock at $1.91 billion.
Among the top three, Peacock saw the strongest growth (+21%), followed by Hulu at 7% YoY. Amazon doesn’t have a YoY comparison, unfortunately, as it wasn’t tracked in 2024.
Across the broader/overall group, the fastest growers were Netflix (26%), Peacock (21%), HBO Max (21%), Tubi (19%), and Paramount+ (16%).
Here’s the table from EMARKETER:
Why This Matters:
Beyond the rankings, EMARKETER projects that over 60% of the U.S. will watch either free ad-supported streaming TV (FAST) or ad-supported tiers from platforms like Hulu and Netflix this year. As that share grows, advertising is becoming central to the streaming business model and not just a supplemental revenue stream.
For platforms, this increasingly shifts the focus from pure subscriber growth to monetization efficiency. For advertisers, it expands available inventory but also raises the bar on measurement, transparency, and performance as budgets continue to move into streaming.
That dynamic is reflected in the spend rankings. The platforms capturing the most ad dollars aren’t just the biggest. Rather, they’re the ones best positioned to scale ad-supported audiences and prove value to buyers.
Experts React:
Here’s some more from EMARKETER on their findings:
“Hulu continues to be the primary destination for streaming ad dollars… And Amazon Prime Video is a massive secondary force… Together, these platforms capture nearly 46% of total market spend.
Other major platforms are experiencing double-digit growth as they compete for the remaining market share.”
Our Take:
The next phase of the streaming ad market won’t be defined by who has ads. It’ll be defined by who does them best across creative formats, targeting, and execution. As more platforms scale inventory, differentiation will also come down to measurement and transparency. The dollars are already there. Now the pressure is on to prove they’re working. (To start the year, we’re already seeing a wave of announcements related to this.)
