Report: More People Are Watching Netflix Streaming Content Than Cable Networks

That panicked wiggling you hear might just be cable giants quaking in their over-priced boots: Netflix CEO Reed Hastings says subscribers watched four billion hours of streaming content in the last three months. Exciting for Netflix, not so much for the cable biz: According to one report, this all means more people are watching Netflix than cable TV.

Research firm BTIG (hat tip to HuffPo) totted up the numbers after reading Hasting’s Facebook post, noting that the four billion figure is a global one. But by assuming that say, 88% of the subscribers, about 28.1 million, are in the U.S., that translates into the average U.S. subscriber watching 87 minutes of content per day.

Richard Greenfield of BTIG tells HuffPo this is no small feat. “Netflix is now likely the most watched cable network, essentially in-line with the Disney Channel,” he said.

This can probably be attributed to, in part, by Netflix’s recent push for more original content, like the popular House of Cards, and will likely only increase as viewers log on for the upcoming return of Arrested Development. Because you know that all your friends are going to be transfixed for hours on end when that hits the web in May. There will only be time for quick cornballer breaks.

Previously: Broadcasters Suddenly Notice That Cord-Cutters Exist, Freak Out

Is Netflix Now the Most Watched “Cable Network” on Television? 87 Minutes Per Household Per Day [BTIG Research]
Netlfix Is Watched More Than Cable TV, According BTIG Research [Huffington Post]