Netflix streaming tops 1 billion monthly views for first time

Netflix streaming tops 1 billion monthly views for first time

Summary: Netflix's digital streaming service hit a major milestone last month: 1 billion hours viewed monthly.

TOPICS: Tech Industry

At this time last year, Netflix was on the verge of a nervous breakdown. A lot of investors and customers became scared the online rental giant was falling apart just as things were getting good, but it was very arguable that much of the criticism was unneccessary fear.

In fact, Netflix has reached a new milestone as the Watch Instantly digital streaming service saw 1 billion hours viewed last month.

CEO Reed Hastings announced the good news via the following message posted to his Facebook page this week:

Congrats to Ted Sarandos, and his amazing content licensing team. Netflix monthly viewing exceeded 1 billion hours for the first time ever in June. When House of Cards and Arrested Development debut, we'll blow these records away. Keep going, Ted, we need even more!

There are a number of factors that have contributed to the success of Netflix's latest achievement. Certainly the international expansion across Latin America as well as a foot in the door in Europe with launches in the United Kingdom Ireland have helped.

Furthermore, the $7.99 monthly plan is continually more appealing to younger consumers who don't want to shell out anywhere between $50 to $100 each month for cable when they can access plenty of on-demand TV shows and movies on nearly every electronic device they own from gaming consoles to smartphones.

(And even though it applied to DVDs, it also doesn't hurt that Qwikster was squashed before it could happen.)

Nevertheless, this also proves how necessary it is for Netflix (and its competitors) to continue ramping up the amount of content available for instant digital streaming. 

With these kinds of solid figures being tossed around and bragged about, it also has the potential to give Hollywood studios more leverage in signing away the rights to content knowing just how many people are turning towards the online, on-demand medium. This is where the market is going, much to the chagrin of traditional cable providers. 

via ReadWriteWeb

Topic: Tech Industry

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  • I can ditch cable...

    ...when Netflix starts streaming live sports. Anyway, good for them, I've been a Netflix customer since the days when they charged $6 per rental, and they've always been one of the better internet-based companies to deal with.
    • Pubs

      I let local bar and grills fit the bill and get off the couch.
      • That's even more expensive!

        Trading the cable bill for a bar bill isn't going to help.
  • 1_At_A_TIme Vs Streaming

    I was a Netflix subscriber for several months.My queque quickly caught up with my request for new releases.I found myself filling in with less desired movies,just to get my monies worth.Even so,I was only able to get about 8 movies per month,or about 2 per week ,due to mail turn around,if I sent the movie right back the next day.
    So, I tried streaming-for about 1 hour!I quickly found out that the content available for streaming is VASTLY different then by mail.Many really old very less interesting selections.
    I see now the reason is -Why would Netflix allow subscrbers to see the same movies -online that they rent by mail.I thought I was to good to be true.
    The fact is,you can copy ANY movie,whether it's online or -in your possession,with the right software,that is readily available.Until Hollywood stops milking and bilking very nickel it can get out of these markets,it will be a long time,if ever,before we see even first rate content available for streaming online.
    I suspended my acount for about 3 weeks,before finally cancelling it.
    I now use Redbox,which is subject to the same Hollywood restrictions.I now -pay as I go -for new releases only,that I like.
  • I no longer watch TV or need a Cable/DSL internet connection.

    Between Netflix, Youtube, et al. I really don't need 500 channels of Crap. I can choose to watch what I want, when I want, if I want. And it's pretty inexpensive to do.