Netflix Forecast To Hit 500 Million Subscribers By 2030
Powerhouse streamer Netflix is forecast to fly even higher.
An RBC analyst predicts the streaming service could reach 500 million subscribers by 2030 from 193 million today.
RBC analyst Mark Mahaney sees Netflix’s global appeal as telling. He believe the platform will grab 57 percent of broadband households worldwide versus the 29 percent share it has now, reported The Street.
There are several reasons for the optimism.
Some 66 percent of U.S. households are watching the streamer this quarter. In the U.K., the rate is even higher: an astounding 72 percent watch. Plus, it has a low churn rate.
Mahaney said: ”We also view Netflix as one of the best derivatives off the strong growth in online video viewing and in internet-connected devices.”
In fact, he is so optimistic about its prospects, he raised his price target for Netflix by 15 percent to $610 a share.
Separately, Netflix may have upped its popularity by signing a multi-year production deal with British royals Harry and Meghan. As part of the agreement, the duo will produce films and TV series for the streamer, even appearing in shows, which run the gamut from docs to features to kids programs.