A new report from Digital TV Research says Netflix will reach 128 million subscribers by 2022 - an increase of 44 per cent compared to the end of 2016.
The Netflix Forecasts Report suggests the platform will have more international subscribers than those based in the US by early 2018.
According to Digital TV Research, Netflix will see its biggest growth area in the Asia Pacific region by 2022 - with almost triple the number of subscribers compared to 2016.
North America and Western Europe will together supply 72 per cent of Netflix’s total subscriber base by 2022 - down from 81 per cent in 2016.
The Report suggests that by 2022, 17 countries will have more than 1 million subs, up from 10 countries at end-2016.
Digital TV Research also forecasts that Netflix’s content spend will climb to $8.5 billion by 2022 – or 57 per cent of subscription revenues.
Simon Murray, principal analyst at Digital TV Research, said: “This impressive growth comes despite Netflix not having direct access to subscribers in the world’s largest country: China. Furthermore, Digital TV Research believes that Netflix will fall foul of Russian legislation. Due to be introduced in July 2017 this restricts foreign companies to only 20 per cent of digital platforms’ equity.”