Just a couple of years ago, experts wondered how long Netflix would last. According to sources then, the company was in trouble and their streaming video service didn’t seem to be a product that could stand on its own. Well, times have certainly changed. Netflix’s original series have bolstered the company and brought new subscribers out of the woodwork. In a recent report it was revealed over 10 billion hours of video had been streamed through Netflix in the last three months.
Users at STX Entertainment have learned that Netflix currently has around 60 million subscribers. Based on the 10 billion streaming hours, that means each subscribe is streaming about 2 hours of video each and every night. According to sources, this indicates that Netflix is growing exponentially, and that it could replace television all together in the coming years, not simply compliment it.
In the same quarter last year, Netflix users streamed 6.4 billion hours of video, and in the same quarter in 2013 they streamed 4 billion hours. The growth rate, year-over-year, is impressive and may hint that Netflix is the video revolution it always said it could be.
While Netflix continues to gain strength and loyalty, many television companies are losing steam. In recent months Viacom has announced massive cuts in an attempt to offset their expenses. According to experts, this scenario is likely to continue happening as streaming options grow at a faster and faster rate.