Netflix reports record viewing figures

Thu 5th of January 2012, filed under Internet News

Netflix users stream 2 billion hours worth of video

Netflix has announced that its users have watched more than two billion hours of TV shows and movies in the past 3 months.

The latest figures show a positive uplift in users since the company lost 800,000 subscribers last year and saw its stock plummet more than 75 per cent following an unexpected price increase. They also caused outrage earlier in the year announcing, then retracting, a plan to launch a separate company forcing customers to create two separate accounts. Netflix co-founder and CEO Reed Hastings commented: "Netflix delights members by giving them choice, convenience and control over the entertainment they love for an incredibly low price."

Netflix - still a long way behind YouTube

Netflix may have had a huge boost with these figures but they are still behind their competitors in viewing numbers with a relatively small 20 million in comparison to Hulu with 31 million unique visitors and YouTube's 152 million.

The statistics, released on Wednesday, have fuelled rumours that Netflix will be a takeover target for companies such as Amazon, which has been trying to build its own internet video service. However, Netflix has consistently indicated it intends to remain independent.

Netflix currently has streaming members in the United States, Canada and Latin America and is available on over 700 devices. It will soon be accessible in the UK, although actual dates and costs are still unannounced.

Daniel Nolan, managing director at theEword, said: "Netflix's latest figures show incredible growth for the company and could pose a serious threat to YouTube once the site is available globally. Google will really need to push YouTube's streaming movie service in order to maintain their dominant market position."

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