Andre Yoskowitz
5 Jul 2012 18:12
Netflix shares jumped over 13 percent today after an analyst claimed that the company's online audience is now larger than cable and TV networks.
According to the report from analyst Rich Greenfield of BTIG Research, 24 million domestic subscribers are watching an average of 40 hours of programming online per month.
The estimate was based on recent figures revealed by CEO Reed Hastings.
"Among households with Netflix, Netflix would have been the No. 1 watched network overall, including broadcast and cable," Greenfield added.
Hastings also noted that the company is testing separating movies from TV on its website, adding new subcategories making it easier for users to find programs.