Netflix Earning Report

People who stream content online do so because it's convenient and because it saves money. While the current cable company business model will likely survive on into the next decade, current trends suggest subscription-based streaming models will continue to grow and grow. And grow. That's no more evident than the latest figures out of Netflix: according to CEO Reed Hastings, subscribers watched four billion hours of video over the last three months.

That figure is astounding and highlights just how much people love watching TV on their own schedule, not around that of a cable company. With habits shifting over to streaming, companies are even beginning to create original content—Netflix did House of Cards and the upcoming season of Arrested Development, while Amazon is creating a Zombieland spinoff. That four billion figure could get exponentially higher if Netflix continues to churn out (and grab the latest) quality content.

The amount of time people spend streaming through Netflix could even outpace any traditional cable network. According to Richard Greenfield at BTIG Research, who surmised that 28.1 million subscribers in the U.S. watched about 87 minutes of streaming video per day, "Netflix is now likely the most watched cable network" outside of the Disney Channel.

So while the traditional networks will continue to hang around, streaming is obviously the preferred choice among many, many people. And with such amazing content filling up the Netflix aisles, it's no surprise to see subscribers racking up so many hours in front of the tube.