Netflix will have 201 million streaming subscribers by 2023, up by 82 per cent from 111 million at the end of 2017.
This is according to a new Netflix Forecasts report from Digital TV Research, which predicts that about 28 million subscribers will be added in 2018 – making it the largest growth year ever, with lower growth expected thereafter.
North America and Western Europe will together supply 62 per cent of Netflix’s total subscriber base by 2023 – still dominant, but down from 76 per cent in 2017. Asia Pacific will boast fast growth by taking 14 per cent of the 2023 total. This represents 28 million subs; quadruple the 2017 figure.
[Read: ABI: 400M Worldwide Subscribe To OTT Video Services]
Although the number of international subs overtook US ones in 2017, the States will still contribute 44 per cent of subscribers by 2023 – and will add 16 million subs between 2017 and 2023.
Streaming subscription revenues for Netflix are predicted to climb by 155 per cent from $11.3 billion in 2017 to $28.8 billion in 2023. The top five countries will generate revenues of $16 billion in 2023 – or 56 per cent of Netflix’s global subscription revenues. The US will contribute $11.2 billion, with four other countries above $1 billion.
Simon Murray, principal analyst at Digital TV Research, said: “These forecasts are a lot higher than the last edition of this report. Similar to many other analysts, we underestimated the fast take-up in international markets.”
