Netflix is steadily increasing its popularity outside of the US, particularly in mainland Europe. According to data presented by Trading Platforms, the number of Netflix subscribers in Europe is expected to reach almost 67M in 2021 and is projected to gain 20M more by 2026, reaching 86M subscribers.
Netflix To Reach 86M Subscribers in Europe By 2026
Netflix started as a DVD rental service but grew exponentially in many aspects when it entered the streaming service industry. As of Q1 2021, Netflix reported having 207.64M paying subscribers worldwide. Its primary markets include the US, Brazil, and the UK.
Mainland Europe is also a growing market for Netflix with 58.83M subscribers in 2020, a number that is expected to grow by 13.7% to 66.89M in 2021. By 2026, the number of Netflix subscribers in Europe is projected to gain almost 20M more subscribers, reaching 86.2M.
Western Europe Had 90% of Europe’s Netflix Subscribers In 2020 But Eastern Europe To Grow By Over 30% in 2021
Western Europe had a 92% share of Europe’s total number of Netflix subscribers amounting to 54.16M in 2020. This figure is projected to grow by 12.18% in 2021 to 60.76M. Eastern Europe had 4.67M subscribers to make up the rest of Europe’s subscribers but is expected to grow by a significant 31.33% in 2021.
From 2021-2026, the number of Netflix subscribers in Eastern Europe is expected to grow at a robust Compound Annual Growth Rate (CAGR) of 14.91% reaching 12.29M by the end of the five-year period. In contrast, Western Europe is only expected to grow at a CAGR of 4% during the same forecast period, reaching 73.91M in 2026.
Rex Pascual, editor at Trading Platforms, commented:
“Eastern Europe is a tremendous growth opportunity for Netflix in an industry that has seen much saturation over the last few years. The emergence of Netflix as market leaders in its primary markets is already starting to be replicated in its international markets with Europe at the forefront.”