The global streaming and pay TV industry is set for significant expansion through 2031, with Netflix maintaining its leadership position while JioHotstar, Disney+, Amazon Prime Video and a potential HBO Max-Paramount+ combination accelerate competition, according to Omdia forecasts presented at NEM Dubrovnik 2026.
Netflix is expected to remain the world’s largest streaming platform, increasing its subscriber base from 325.3 million in 2025 to 396.2 million by 2031. Omdia also forecasts that Netflix’s monthly audience will exceed 1 billion viewers by 2027, reinforcing its dominance in the subscription video market.
Among the fastest-growing platforms, JioHotstar is projected to expand from 239.4 million subscribers in 2025 to 341.9 million in 2031, securing its position as the second-largest platform globally. Amazon Prime Video is forecast to grow from 190.0 million subscribers to 220.4 million, while Disney+ is expected to deliver strong growth, rising from 139.0 million to 216.9 million subscribers over the forecast period.
In Asia, telecom-backed and regional video services continue to maintain large subscriber bases. China Telecom is projected to remain stable, increasing slightly from 130.0 million subscribers in 2025 to 130.6 million by 2031. Tencent Video is forecast to grow from 115.0 million to 119.2 million subscribers during the same period.
A major industry development is the potential combination of HBO Max and Paramount+. Omdia estimates that the merged streaming ecosystem could expand from approximately 109.0 million subscribers in 2025 to 174.9 million by 2031, making it one of the five largest streaming services worldwide.
The proposed combination is supported by substantial customer overlap, with 40 percent of Paramount+ subscribers also subscribing to HBO Max, while 26 percent of HBO Max subscribers also taking Paramount+, creating opportunities for bundling, cross-selling and improved customer retention.
Other streaming services are also expected to post moderate growth. YouTube Premium is forecast to increase from 84.0 million subscribers to 98.5 million by 2031, while China’s iQIYI is projected to rise from 92.0 million to 100.0 million subscribers.
Beyond paid subscriptions, YouTube continues to dominate the broader online video ecosystem. Omdia forecasts that YouTube will reach 2.7 billion monthly active users in 2026, giving it a scale unmatched by any individual streaming platform and highlighting the growing competition for consumer attention across subscription, advertising-supported and creator-driven video services.
Maria Rua Aguete, Head of Media & Entertainment at Omdia, said in the report that the streaming market is entering a new phase where scale, profitability and sustainability are becoming decisive competitive advantages. Omdia expects the next stage of industry growth to be driven by continued consolidation, expansion of advertising-supported streaming models, content bundling strategies and increasing competition among global streaming giants for audience engagement and revenue growth.
The data highlights how Netflix, JioHotstar, Disney+, Amazon Prime Video and a potential HBO Max-Paramount+ combination are expected to account for much of the industry’s future growth, while YouTube’s 2.7 billion monthly active users demonstrate the increasing convergence between streaming platforms and the broader digital video ecosystem.
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