People who wrote off Netflix after its very public series of PR fiascos last year may want to hear what BTIG analyst Richard Greenfield has to say about it. According to Greenfield, Netflix can now be considered the 15th most-watched “network” in the U.S., and the second most-watched in homes that subscribe to the service.
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Greenfield has culled his numbers from a Netflix announcement that the company’s subscribers streamed more than two billion hours of content in the fourth quarter of 2011. The number caused the analyst to revise his estimated ranking of the company upward:
“Netflix is actually [the] number 15 [network] with 666 million hours monthly or 2 billion per quarter — our prior analysis estimated number 25.”
Breaking down Netflix’s numbers means that the average subscriber is watching more than an hour of Netflix content per day, a habit that Greenfield believes is coming at the expense of regular TV watching. Said Greenfield:
“Netflix must be eating into traditional TV viewing time . . . Netflix streaming usage is exploding and is far, far bigger than traditional media executives give it credit for.”
Netflixing Insiders, how much time do you spend each day watching Netflix content? Do you think Netflix’s ranking among the networks will continue to rise?
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(via The Hollywood Reporter)
That’s a flawed comparison. They’re showing content that has already shown on other networks AND you don’t get to choose what’s on actual networks. It’s a ninvalid comparison – compare it to Hulu, HBO to go, etc.
Netflix is really reaching here. If they are the “15th most watched network” now, they were like the “5th most watched network” last year before their big debacle and customers left in droves. This isn’t the “Netflix Network”.
To answer the question at the end of the article – our household watches, on average, 3 to 4 hours a day of Netflix stuff. Some stuff we watch again (Mythbusters, River Monsters) but we can usually find something new to watch.
s142424 – It’s not a flawed comparison, if they are getting that many views, they are getting that many views. Lots of stuff on Netflix is new to my family as we don’t have cable. So the stuff from Animal Planet, Discovery, etc. is new content to us.
And BH14 – Netflix isn’t reaching anywhere. This isn’t Netflix saying this, it is BTIG. Did you read the article or are you just so blinded by your hatred of Netflix that you just want to attack them.