updated 02:41 pm EDT, Tue July 3, 2012
Analyst says Netflix bigger than any cable network
Netflix monthly viewing crossed the billion hour mark for the first time ever last month. A public posting on Netflix CEO Reed Hasting's Facebook page announced the landmark. The achievement is a testament to the growing popularity of video streaming as opposed to traditional television watching, and one analyst says Netflix's viewership numbers make it bigger than any traditional cable network.
Hastings' post highlighted the one billion hour mark and congratulated Netflix's content licensing team. The last time Netflix gave out data on video streaming was the fourth quarter of 2011, when the service announced it had streamed two billion hours over a three-month period.
As GigaOm reported today, BTIG analyst Richard Greenfield examined Netflix's numbers, finding that the streaming service is likely more popular than any US cable network. The 80 minutes of daily Netflix viewing Greenfield estimates actually put the service ahead of even broadcast networks like ABC and CBS.
Hastings' Facebook post also noted that Netflix will soon be expanding its original content offerings, with House of Cards and Arrested Development debuting in the near future. The viewership numbers may lead to increased tension between Netflix and content providers, who argue that the streaming service cannibalizes their own viewership.