Global streaming subscriptions projected to reach 2 billion by 2029
The number of streaming subscriptions worldwide is anticipated to surge to 2 billion by 2029, driven by growth in the Asia-Pacific region and the need for diverse content strategies.
The global streaming landscape is undergoing significant transformation, with US streaming companies poised to expand their international reach and enhance their strategies for engaging a diverse audience. According to research by Ampere Analysis, the number of online streaming subscriptions is expected to reach two billion worldwide by 2029, driven by growth opportunities particularly in the Asia-Pacific region.
Currently, Ampere estimates that there are approximately 1.8 billion streaming subscriptions globally. This figure is projected to grow to two billion within the next five years, significantly influenced by a surge in paid subscriptions from international markets, which are forecasted to outpace the US market. The largest increase in paid subscriptions occurred in 2020, when pandemic-induced lockdowns resulted in 282 million new sign-ups.
While Ampere acknowledges that growth rates are expected to slow compared to the historic spikes seen during the pandemic, the focus now shifts to how streaming services can bolster engagement in less-saturated markets. The research firm emphasises that “streamers will have to work hard to reengage growth in less-saturated markets, investing in marketing and locally relevant content,” to achieve or surpass the projected two billion figure ahead of schedule.
In terms of revenue generation, subscription-streaming is forecast to grow at an impressive rate, with revenues expected to nearly triple the rate of subscriber growth. Ampere predicts that by 2029, subscription streaming services will generate nearly $170 billion annually. This includes an anticipated $22 billion boost from ad-supported tiers, as established ad-free streaming platforms begin to pivot towards incorporating advertising to enhance their monetisation strategies.
Maria Dunleavey, Research Manager at Ampere, stated, “The global streaming market is poised to generate $190 billion annually from two billion paid subscriptions by 2029.” This growth is largely attributed to key strategic developments initiated by leading platforms. For example, Netflix is actively pursuing initiatives to secure long-term revenue growth through the introduction of an advertising revenue stream, enhanced measures against password-sharing, and innovative content offerings. Additionally, competitors such as Disney+ and Max have opted for aggressive bundling strategies to attract and retain customers.
Ampere projects that Netflix will significantly expand its market presence, increasing its share of paid subscriptions from 14.4% to an estimated 29% by 2029. The company is also focusing on international markets, with India serving as a noteworthy example, having been identified as Netflix’s second-largest growth market in 2024. Despite this progress, the research suggests that Netflix has not yet fully harnessed the growth potential within the region.
Overall, the future of global streaming appears to hinge on how effectively companies navigate the complexities of diverse international markets while adapting their content strategies to cater to distinct cultural preferences. The strategic investments aimed at increasing subscriber numbers in these less saturated areas will be crucial for the sustained growth of the subscription streaming sector moving forward.
Curated, edited, and published by our team, with stories provided by the AI news platform, Noah Wire Services.
More on this and verification:
- ampereanalysis.com/insight/us-streaming-revenue-to-overtake-pay-tv-in-2024 – Corroborates the growth of streaming revenue and the shift in focus from subscriber growth to revenue growth, including the introduction of ad-supported tiers.
- ampereanalysis.com/insight/asia-pacific-surpasses-latin-america-to-become-netflixs-third-largest-subscriber-base – Supports the growth of Netflix in the Asia-Pacific region, particularly in India, and the company’s strategies for expanding its international reach.
