Today, Netflix posted its third-quarter earnings, with the streaming video provider exceeding analyst projections thanks to strong subscriber growth in which it added 1.3 million domestically. Netflix CEO Reed Hastings and CFO David Wells said in a letter to shareholders this afternoon that the company recently surpassed the 40 million members milestone, up from “less than 30 million just one year ago,” they said.
That’s not the only milestone Netflix checked off in the third quarter. In an earnings interview this afternoon, Hastings said that the company served up over 5 billion hours of streaming video content over the last three months. Netflix leadership last shared streaming numbers in April, when the CEO announced via Facebook that members had watched more than four billion hours of video during the first quarter of 2013.
So that means that viewership increased by 1 billion hours over the last six months, for a total of 9 billion hours streamed over the course of the two quarters (Netflix has not shared viewership numbers from Q2).
What’s behind this eager consumption of Netflix streaming content? First and foremost, Netflix is continuing full-steam ahead with the production...