Research firm Omdia projects Netflix will reach nearly 400 million subscribers worldwide by the end of 2031, according to forecasts presented at NEM Dubrovnik 2026. The streaming platform is expected to maintain its position as the world's leading subscription streaming service despite increasing industry consolidation.

Omdia also forecasts Netflix's monthly audience will exceed one billion viewers by 2027. The research indicates that scale, profitability and audience reach will increasingly influence streaming competition in the coming years.

"The streaming market is entering a new phase in which scale and sustainability are becoming increasingly important," said Maria Rua Aguete, Head of Media & Entertainment at Omdia. "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."

The analysis suggests strategic consolidation will play an important role in the next phase of streaming competition. Omdia projects that a potential combined HBO Max and Paramount+ service could attract approximately 175 million subscribers worldwide by 2031, which would position the merged entity among the world's five largest streaming platforms.

Omdia's consumer research shows significant audience overlap between the two services. The firm found that 40% of Paramount+ subscribers would also subscribe to HBO Max, while 26% of HBO Max subscribers currently take Paramount+ subscriptions.

YouTube continues to expand across the broader video ecosystem, with Omdia forecasting the platform will reach 2.7 billion monthly active users in 2026. This scale exceeds any individual streaming service.

Omdia expects the next growth phase in the streaming market to be shaped by continued consolidation, expansion of advertising-supported models, content bundling strategies, and intensifying competition for consumer attention across both subscription and ad-supported services.