Ampere: Streaming Subs to Top 2 Billion by 2029

The number of paid subscriptions to online streaming services will top 2 billion by 2029, according to Ampere Analysis, driven by international gains—namely in Asia—and a crackdown on account sharing.

The number of paid subscriptions today sits at about 1.8 billion, up from 1 billion at the height of the pandemic; there were 282 million new sign-ups following stay-at-home mandates around the world.

With the U.S. and other markets reaching saturation, the Asia Pacific presents a significant growth opportunity over the next five years, Ampere reports. But the overall market for sign-ups is slowing, with streamers now having to work harder to grow their bases and minimize churn. That will involve investing in marketing and delivering locally relevant content. Ad tiers, bundling and cracking down on password sharing are key to subscriber growth over the next five years.

Subscription streaming revenues are expected to hit $170 billion in 2029, with Netflix accounting for 29 percent of that. Subscription streaming is expected to generate an additional $22 billion from ad sales.

Maria Dunleavey, research manager at Ampere Analysis, noted: “The global streaming market is poised to generate $190 billion annually from 2 billion paid subscriptions by 2029. Key strategic developments, like Netflix’s account-sharing crackdown and cheaper ad tier offer, and rivals Disney+ and Max’s aggressive approach to bundling, are driving revenue growth in saturated streaming markets. Targeting the untapped Asia Pacific region is the most promising strategy for subscriber growth. To surpass current subscriber expectations, streamers must double down on strategic investments in less saturated markets. India was Netflix’s second-largest subscriber growth market in 2024, and the company has barely scratched the surface there in terms of growth potential.”