Netflix is projected to further strengthen its position as the world’s leading subscription streaming platform, with new industry forecasts suggesting it could approach 400 million global subscribers by 2031. The estimate comes from Omdia, presented during the NEM Dubrovnik 2026 conference, and points to sustained long-term growth despite increasing competition.
The report highlights how Netflix continues to outpace rivals through its global reach and content strategy. While the streaming market becomes more competitive, Netflix’s ability to scale across regions remains a key advantage heading into the next phase of the industry.
Netflix’s Subscriber Growth Remains Strong
Omdia’s forecast suggests that Netflix is not just maintaining its lead but expanding it. The firm also predicts that the platform’s monthly audience will cross one billion viewers by 2027, reinforcing its massive global footprint.
Maria Rua Aguete, Head of Media & Entertainment at Omdia, emphasized this trend during her presentation. She stated,
“The streaming industry is entering a new era where scale, profitability and audience reach matter more than ever,”
adding that Netflix remains
“uniquely positioned to capitalise on global growth opportunities.”
This projection reflects Netflix’s continued investment in international markets and diverse content. From regional originals to global hits, the platform has successfully built a library that appeals to a wide audience across multiple territories.
Streaming Competition Is Entering a New Phase
While Netflix leads the subscription space, Omdia’s analysis suggests that competition is evolving. Instead of purely competing individually, streaming platforms are increasingly exploring consolidation as a way to scale faster.
One key example is the potential merger of HBO Max and Paramount+, which could create a combined service with around 175 million subscribers by 2031. Even then, the projected numbers would still place the merged platform significantly behind Netflix.
Omdia’s data also shows strong overlap between these services, with 40% of Paramount+ subscribers also using HBO Max, and 26% of HBO Max users already subscribed to Paramount+. This overlap creates opportunities for bundling strategies that could reshape how platforms compete for viewers.
YouTube’s Growth Adds a New Kind of Rival
Despite Netflix’s dominance in paid streaming, the broader video terrain tells a different story. YouTube is expected to reach around 2.7 billion monthly active users in 2026, far exceeding any single streaming service in scale.
Rua Aguete addressed this shift, saying,
“The industry’s biggest battle is no longer simply streamer versus streamer. Netflix is winning the subscription streaming war, but YouTube is becoming one of the most powerful forces in television.”
This reflects changing viewing habits, where audiences split their time between subscription platforms and free, ad-supported services. While Netflix leads in revenue and subscriptions, YouTube dominates in reach and accessibility.
