Netflix Customers Stream 103 Minutes Daily
Netflix (NASDAQ: NFLX) streamed 6.5 billion hours (271 million days) of content to subscribers during the first quarter, two billion of which was streamed during January.
Traders, as expected, are responding positively to the record high volume. Analyst Richard Greenfield of BTIG gave his estimates as to how much time is spent by user geographically.
Domestic subscribers of the service consumed an average of 103 minutes per day for the first quarter, according to Greenfield. This is 18 percent higher than the same period for the previous year.
Related: 4 Reasons Netflix Will Kill Cable
Although 103 minutes may seem astonishing, the average american is still spending 311 minutes watching television everyday. This leaves plenty of opportunity for Netflix to expand, which most analysts think will come as the company expands its content offering.
International consumption is growing almost twice as fast at 32 percent year-over-year; international customers watched Netflix for an average of 66 minutes during the first quarter.
Shares of Netflix are trading up 1.57 percent to $370.22.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.