Netflix to reach 400 million subs by 2031 as global dominance continues – Omdia

Streaming giant Netflix will reach nearly 400 million subscribers worldwide by the end of 2031 as its dominance of the SVoD market continues, says UK research firm Omdia.

The forecast highlights Netflix’s ongoing expansion despite increasing M&A activity among its competitors – notably the proposed US$110bn mega merger of Paramount Skydance and Warner Bros Discovery.

Omdia also believes Netflix’s monthly audience will exceed one billion views by 2027, underscoring its enviable global scale and reach.

The company’s analysis indicates that strategic consolidation will play an important role in the next phase of the streaming wars, as companies pursue greater scale and profitability.

A combined HBO Max and Paramount+ service could attract about 175 million subscribers worldwide by 2031, positioning the merged entity among the world’s five largest streaming platforms.

Omdia’s consumer research shows 40% of Paramount+ subscribers would also subscribe to HBO Max, while 26% of HBO Max customers currently take Paramount+ subs. This suggests 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 forecast the Google-owned platform will reach 2.7 billion monthly active users in 2026, maintaining a scale that exceeds any individual streaming service.

Maria Rua Agueta, head of media and entertainment and Omdia, said: “The streaming market is entering a new phase in which scale and sustainability are becoming increasingly important.

“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.”