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2025 Streaming Was Ruled by Returning Series as Free Platforms Surged

Bloomberg’s read of Nielsen’s top-10 minutes identifies a shift toward catalog hits.

Overview

  • In 2025, every top original was a returning series led by Squid Game (18.6 billion minutes), Wednesday (16.4 billion), and Love Island (11.4 billion), with several of the year’s biggest series ending their runs.
  • Bluey was the most-watched show of 2025 with 39.3 billion minutes, followed by Grey’s Anatomy with 30.3 billion.
  • Across 2020–2025 cumulative viewing, legacy titles dominate: NCIS (151.4 billion minutes), Grey’s Anatomy (148.8 billion), and Bluey (137.7 billion).
  • Ozark ranks as the decade’s most-watched original so far with 55.3 billion minutes of view time.
  • Free, ad-supported platforms are expanding fastest, with YouTube now the largest service, while Netflix still accounts for about two-thirds of top originals and more than half of top films since 2020.