Netflix subscribers watched 1 billion hours of video in June – one hour per day per customer

Here’s more evidence that Netflix is slowly chipping away at traditional TV viewing. According to a public Facebook post by CEO Reed Hastings, Netflix subscribers watched a total of 1 billion hours of video for the first time in June. Do a little back-of-the-envelope math, and that comes out to more than an hour of video per subscriber each day.

Considering the average viewer in the U.S. watches about five hours of TV a day, that’s a huge number worth watching. After all, there are only so many hours in a day, and if a Netflix subscriber is tuning in to an hour of video on the service, that likely means one less hour of actual live TV he or she is watching.

 

ViaTechCrunch

 

The era of on-demand TV is slowly approaching…when will the hours watched of on-demand TV match that of live TV?

 

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Netflix turns to TV shows after the movie industry tries to bully the company

Netflix is now primarily an Internet streaming service for television shows, not feature films.

TV series now account for more than half of all Netflix viewing. That helps to explain why this Wednesday (Feb 29, 2012) — the long-awaited moment when motion picture classics like “Scarface” and newer hits like “Toy Story 3” will vanish from the streaming service — is not the doomsday that it was once expected to be.

The vanishing films are from Starz. Its three-and-a-half-year-old deal helped Netflix persuade millions of people to sign up for Internet streaming.

It became clear about a year ago that the deal would not be renewed. By then, though, Netflix was bulking up on old TV episodes.

Analysts say the prioritizing of television partly explains why the company has been able to retain about 21.7 million streaming subscribers in the United States — totaling one in four households that have broadband.

Many of the new titles are full seasons of TV series like “Mad Men,” “Breaking Bad” and “Lost” that Netflix executives call “26-hour movies.”

Netflix is sensitive to that criticism — but says it doesn’t really matter. As long as its algorithms serve up something worth watching, even if it’s not the subscriber’s first choice, he or she will continue paying for and enjoying the service, the company believes.

via Brian Stelter – NY Times