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1 Billion Hours of Online Streaming – Guess Who?

The technology we have embraced in recent years has created a massive impact on our viewing habits and what better way to explain it than Netflix? The number of hours that Netflix customers spend watching videos is huge. You might find it hard to believe but it’s a whopping one billion hours that was spent in watching videos in a single month. Netflix has just proved it again and it means that each customer has spent an average of 38 hours in a month. It’s a clear indication of how Internet and phones have evolved in the recent past. It comes as no surprise to see this company as one of the top cable networks.

Netflix has plans of expanding its video library. So, this record breaking news is like icing on the cake. The company is based at Los Gatos in California. Reed Hastings, the CEO of Netflix announced this news on Facebook. According to him, the numbers are still expected to grow. Reed has given all the credit to Ted Sarandos who heads the licensing department. Increase in viewership is a boon for the company because it is all set to roll out its DVD-by-mail rental service and expand the profit range. It hopes to wipe out the concept of DVDs and introduce Internet videos because they are cost effective and less time consuming when compared to discs.

Richard Greenfield who is a BTIG analyst inferred that Netflix is the “most viewed cable network”. It has been noticed that people usually devote 5 hours a day to watch television and it can be divided into three different phases. The first phase indicates that the first hour is spent on watching programs that cannot be skipped. The second phase is when people spend watching shows that are pleasing to their eyes and they are not very important. The second phase spans the second and third hour. The fourth and fifth hours are usually spent watching programs just for the sake of watching and nothing else.

Presently, Netflix is concentrating on the fourth and fifth hour. Gradually, with an increase in viewership, they are planning to move to the second phase when viewing will become more interesting. The company would announce their quarterly earnings during the later part of this month and that is when we will be able to get a clear picture. However, as of now things are all set in place for Netflix!

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