Netflix streams over 4 billion hours of content in first quarter

In the first quarter of 2013, Netflix members streamed more than four billion hours of video content, according to CEO Reed Hastings.

Hastings posted the figure on his Facebook, attributing the high viewing figures to the launch of exclusive series House of Cards, which has proved popular among Netflix subscribers.

“The global viewing and high level of engagement with the show increased our confidence in our ability to pick shows Netflix members will embrace and to pick partners skilled at delivering a great series,” said Hastings.

“The high level of viewer satisfaction implies we are able to target the right audience without the benefit of existing broadcast or cable viewing data and the strong viewing across all our markets gives us faith in our ability to create global content brands in a cost-effective, efficient way.”

However, Hastings’ claim doesn’t distinguish between online streaming and standard DVD rental.

Back in February, director and video producer Peter Kosminsky said – when speaking about the exclusive offering of House of Cards – that traditional broadcasters should be worried.

“I stayed up and watched three episodes in a row and I realised that I was watching the end of an era,” he said to the Guardian when talking about the show’s launch.

“This was something that was nothing to do with traditional broadcasting,” he continued. “If I was a traditional broadcaster watching that I would have been shitting it if I saw that show.”

Despite that, he doesn’t think that it will impact negatively on his work.

In June 2012, 1 billion hours of Netflix content was streamed, averaging a growth of 1 billion hours per month. Quarterly revenue exceeded $1 billion for the first time.

Netflix is set to launch its second exclusive series Hemlock Grove next week.