Global Streaming Subscriptions Set to Exceed 2 Billion by 2029

According to Ampere Analysis, the number of global streaming subscriptions is expected to surpass 2 billion by 2029, with annual revenues exceeding $190 billion. This growth is attributed to international expansion by U.S. streaming companies and improved control over password-sharing practices.

Currently, there are 1.8 billion streaming subscriptions worldwide, a number that is projected to reach 2 billion within the next five years. The Asia-Pacific region is expected to experience the largest increase in paid subscriptions, outpacing the U.S. market.

The onset of the COVID-19 pandemic in 2020 led to a significant surge in streaming subscriptions, with 282 million signups driving the total over 1 billion for the first time. While growth is expected to slow down over the next five years, companies will need to invest in marketing and region-specific content to reengage growth in less-saturated markets.

In terms of revenue, subscription streaming services are expected to grow almost three times faster than subscriber numbers, with a projected growth rate of over 30% by 2029. Streaming platforms are focusing on profitability and per-subscriber monetization, with initiatives like ad revenues, password-sharing control, and bundled offerings.

By 2029, Ampere predicts that Netflix will have the largest share of paid subscriptions, growing from 14.4% to 29%. Additionally, the ad-supported streaming segment is anticipated to generate an extra $22 billion in revenue as more services introduce ad tiers alongside their traditional ad-free offerings.

Overall, the global streaming market is on track to generate $190 billion annually from 2 billion paid subscriptions by 2029. Strategic developments such as account-sharing crackdowns, ad-tier offerings, and bundle deals are driving revenue growth, particularly in saturated markets. Targeting the Asia-Pacific region is seen as a promising strategy for subscriber growth. Companies will need to double down on investments in less saturated markets to surpass current subscriber expectations and tap into new growth opportunities, like the burgeoning market in India.