According to new analysis from Ampere Analysis, paid global subscriptions to online streaming services will surpass two billion by 2029.
The current trajectory is a marked slow-down in subscriber growth compared to the previous five years when global subscriptions doubled from 2019 to 2024. The Asia Pacific region will be significant for subscriber growth over the next five years as the more developed US market becomes increasingly saturated.
“The global streaming market is poised to generate $190 billion annually from two billion paid subscriptions by 2029," said Maria Dunleavey, Research Manager at Ampere Analysis. "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."
The study also shows subscription streaming revenues are expected to grow almost three times faster than subscribers. Ampere expects over 30% growth by 2029 as services focus on profitability and per-subscriber monetization. By 2029, the annual revenue of the global subscription streaming market will be over $190 billion.
Soon to be the largest contributing segment to the global TV economy, subscription streamers will generate almost $170 billion annually in 2029 from paid subscriptions. From this, Netflix will claim a 29% market share.
Subscription streaming is expected to generate an additional $22 billion from ad sales as traditionally ad-free streaming services have pivoted to ad-tiers.