Ampere Analysis has released its latest research into the global streaming market.
Growth in global streaming subscriptions is predicted to grow from its current 1.8 billion to surpass 2 billion by 2029, less than a decade after hitting the billion mark which was achieved during the pandemic.
As the US market becomes increasingly saturated, significant growth is expected across the Asia Pacific region over the next five years, said the analysts.
Though numbers are increasing, the trajectory shows a marked slowing compared to the 2019-2024 period. During 2020, when many countries instigated lockdown orders, the number of new sign-ups peaked at 282 million. If the speed is to be increased, streamers will need to invest in marketing and locally relevant content in less saturated markets, said Ampere.
Revenues are expected to grow almost three times faster than subscribers, with Ampere predicting a focus on profitability and per-subscriber monetisation will lead to more than 30 per cent growth by 2029.
Netflix has worked to solidify long-term revenue growth in saturated markets, creating ad revenue and tackling password sharing. Additionally, Disney+ and Max have adopted bundling strategies.
Subscription streaming is expected to generate almost $170 billion per annum by 2029, with Netflix taking 29 per cent market share. A further $22 billion from ad sales will be generated, as ad-free services have pivoted to ad-tiers, taking the total annual revenue of the global subscription streaming market beyond $190 billion.
Maria Dunleavey, research manager at Ampere Analysis, said, “The global streaming market is poised to generate $190 billion annually from two 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.”
