After years of narratives positioning movies as second-tier in the streaming era, new data from Parrot Analytics reveals that films have become a central revenue driver for major platforms. According to the analysis, movies now account for 48% of total streaming revenues in the U.S., nearly doubling their share from 27% in 2022.
Parrot Analytics reached these findings by analyzing thousands of titles across Netflix, Disney+, Amazon Prime Video, and Max. Their proprietary demand and engagement models calculated how each title contributes to subscriber acquisition and retention, the two most critical levers in the streaming business model. This methodology enabled a clear attribution of revenue between films and series, exposing a major shift in content strategy.
This surge is underpinned by the growing value of Pay-2/3 and library film windows. These accounted for only 26% of movie-driven revenue in 2022 but now represent roughly two-thirds of it, underscoring how older titles are delivering long-tail returns. Netflix’s own engagement reports reflect this trend, with titles from as far back as 2020 still generating meaningful viewership. As Parrot notes, “movies consistently punch above their weight, delivering disproportionately high engagement relative to the volume of content hours they represent.”
The report identifies three key drivers behind this movie resurgence. First, churn reduction has become paramount in a saturated streaming market. As Netflix Co-CEO Ted Sarandos has noted, the platform’s film library is where “members go to watch their weekend movie,” helping build habitual viewing behavior that directly correlates with lower churn and higher lifetime value.
Second, the industry's pivot to profitability is forcing platforms to optimize for ROI. Licensing well-known films — especially in late-stage pay windows — offers better margin predictability than greenlighting costly new series. HBO’s Casey Bloys echoed this sentiment earlier this year, saying the platform is now focused on “the content subscribers actually watch,” which increasingly includes Pay-1 movies.
Third, film distributors are evolving alongside streamers. As theatrical windows shrink and global demand for premium content grows, distributors are monetizing catalog films and genre-driven releases more effectively across PVOD, TVOD, and subscription windows. “Movies continue to play a critical role in the premium streaming landscape,” said Jeff Sackman and Berry Meyerowitz of Quiver Distribution, citing genre diversity and talent as key factors in driving engagement.
Looking ahead, Parrot Analytics predicts that sports will be the next major battleground for streaming. While films offer consistent and high-margin engagement, live sports provide immediacy and ad-monetization opportunities that can’t be matched by on-demand formats. However, the economics are more complex, with rights being both expensive and concentrated. As one Parrot advisor put it, “TV series monopolize attention and marketing budgets and far too often seem like independent films without editors. Movies, by contrast, are quietly dependable workhorses.”
In Parrot’s view, the rise of movies in the streaming era isn’t a rejection of series or a nostalgia play — it’s a rebalancing. In the attention economy, where every piece of content must earn its place, films are once again proving to be essential engines of growth, loyalty, and profitability.