One in every ten minutes of TV time in the United States is spent on Netflix, according to the streaming firm.
In announcing it beat estimates by adding nearly 9 million new subscribers during the last three months, the company said 10% of all TV viewing time in the US is spent viewing its content.
That’s a remarkable stat, not only because of the wide-range of streaming competitors out there, but also due to the traditional TV channels available through traditional broadcast television.
In fact, the company said that the Battle Royale-style video game Fortnite is a greater competitor for screen time than the HBO network in the United States.
“As a result of our success with original content, we’re becoming less focused on 2nd run programming,” the firm says.
“We are ready to pay top-of-market prices for second run content when the studios, networks and producers are willing to sell, but we are also prepared to keep our members ecstatic with our incredible original content if others choose to retain their content for their own services.”
Wall Street wasn’t that impressed by the quarterly earnings, which saw $4.19 billion in earnings. That’s slightly lower than the expected $4.21bn. As a result, shares fell 2% in after hours trading.
As for the company’s competitors, Netflix said it wasn’t focused on rivals like the forthcoming Disney+ service and Amazon Prime, but “on how we can improve our experience for our members.”
The earnings call came in the same week Netflix confirmed it was raising prices in the US, across its range of tariffs. The company also announced Space Force, a new sitcom starring Steve Carrell, centred on the folks charged with getting the Trump’s new branch of the military off the ground.
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