We Spent 1 Billion Hours Watching Netflix Last Month
That is indeed a record
By Matt Cantor,  Newser User
Posted Jul 4, 2012 6:30 AM CDT
Netflix subscribers watched more than 1 billion hours of online video last month.   (AP Photo/Paul Sakuma, File)

(Newser) – It looks like Netflix's image has handily recovered after last year's pricing furor: Last month, viewers spent more than a billion hours watching content on the site, its CEO says, setting a new record. And "when House of Cards and Arrested Development debut, we’ll blow these records away," Reed Hastings wrote on Facebook, citing the company's upcoming exclusive programming. Netflix stock jumped 6.2% following the news, Bloomberg reports, hitting $72.04 in its biggest bump since late May.

"They are the clear leader in their space and still have growth opportunities," says an analyst. "People are watching more and there are more people watching." Kids' shows are a big part of the site's growth, experts tell the Hollywood Reporter; Netflix disputes the claim. But the company faces future hurdles, including pricey content, which is likely to get more expensive. "Content owners have complete control because Netflix can't obtain it from elsewhere," says another analyst. On the other hand, Netflix has this guy.

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