Omdia: Netflix to Reach 400 Million Subscribers by 2031, Maintaining Global Streaming Lead Despite Industry Consolidation

11 Jun 2026
LONDON

Netflix is forecast to reach nearly 400 million subscribers worldwide by the end of 2031, reinforcing its position as the world’s leading subscription streaming platform despite growing consolidation across the industry. New forecasts from Omdia presented at NEM Dubrovnik 2026 indicate that scale, profitability and audience reach will increasingly shape the next phase of streaming competition.

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Top 10 pay TV and online video subscribers (million) 2025-2031

Top 10 pay TV and online video subscribers (million) 2025-2031

Omdia’s forecasts highlighted Netflix's continued expansion despite increasing merger and acquisition activity among competing companies. Omdia also forecasts that Netflix's monthly audience will exceed one billion viewers by 2027, underscoring the platform's global scale and reach.

"The streaming market is entering a new phase in which scale and sustainability are becoming increasingly important," said Maria Rua Aguete, Head of Media & Entertainment, Omdia. "Consolidation is likely to strengthen a number of competitors, but Netflix continues to benefit from a level of global reach and subscriber scale that remains difficult to replicate."

Omdia’s analysis indicates that strategic consolidation will play an important role in the next phase of streaming competition, as companies pursue greater scale and profitability. A potential combined HBO Max and Paramount+ service could attract approximately 175 million subscribers worldwide by 2031, positioning the merged entity among the world's five largest streaming platforms.

The proposed combination would also benefit from significant audience overlap. Omdia consumer research shows that 40% of Paramount+ subscribers would also subscribe to HBO Max, while 26% of HBO Max subscribers currently take Paramount+ subscriptions, suggesting opportunities for cross-promotion, bundling and customer retention.

While Netflix remains the leader in subscription streaming, YouTube continues to expand its influence across the broader video ecosystem. Omdia forecasts that YouTube will reach 2.7 billion monthly active users in 2026, maintaining a scale that exceeds any individual streaming service.

"Competition is no longer limited to streamer versus streamer," said Rua Aguete. "Netflix remains the dominant subscription streaming platform, while YouTube is becoming an influential force in television as it continues to attract audiences, creators and premium content."

Omdia expects the next growth phase in the steaming market to be shaped by continued consolidation, expansion of advertising-supported models, content bundling strategies, and intensifying competition for consumer attention across both subscription and ad-supported services.

ABOUT OMDIA

Omdia, part of TechTarget, Inc. d/b/a Informa TechTarget (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets grounded in real conversations with industry leaders and hundreds of thousands of data points, make our market intelligence our clients’ strategic advantage. From R&D to ROI, we identify the greatest opportunities and move the industry forward.

 

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