It may seem like just about everybody has a Netflix account nowadays, but obviously we all know people who’ve avoided subscribing to the streaming service. But in 10 years, that may no longer be the case.
A new report conducted by Citi Research estimates that by 2028, Netflix will have 262 million subscribers that will include 72 percent of the United States population. To put that in comparison, right now the service boasts only 118 million subscribers. In addition to the United States, the researchers estimate around 37 percent of the population other developed nations will have Netflix, as well as 21 percent of emerging markets such as China.
To continue growing, the researchers say Netflix will need to continue pumping money into content acquisition. In 2018, Netflix will spend around $14.7 billion on content, and that number’s expected to grow to $16.5 billion in 2019 and $17.5 in 2020. By 2028, the researchers estimate the streaming service will be spending around $20 billion on content.
Citi Research did not answer how many of those 72 percent of Americans will simply be leeching off their friends’ Netflix accounts.