The US streaming market is entering a new phase. Growth in Specialty SVoD platforms has slowed to 12% year-on-year, down sharply from 22% in mid-2024. Meanwhile, Premium SVoDs have also cooled slightly to 10% YoY growth, while Sports subscriptions actually contracted by 1%, cutting against the industry sentiment that ‘sport is streaming’s most reliable growth driver’. This is according to Antenna’s latest State of Subscriptions report, which shows 339 million US subscriptions across Premium, Specialty, Sports, and vMVPDs as of Q2 2025. While the numbers are still rising, the pace has clearly changed. Fewer people are signing up to Specialty services for the first time, with 3.2 million new-to-category sign-ups in Q2 2025 versus 3.4 million a year earlier. That…