Netflix streaming more than triples over last 18 months

Netflix streaming has increased 350% during the last 10 quarters, from 2 billion hours in Q4 2011 to 7 billion in Q2 2014, according to new research from The Diffusion Group (TDG).

While the US still accounts for the majority of Netflix subscribers (94%), international streaming recorded significant growth.

Total streaming among US Netflix subscribers rose from 1.8 billion hours in Q4 2011 to 5.1 billion hours in Q2 2014 – almost tripling during the period – while total international streaming grew from 0.2 million hours to 1.9 million hours – a tenfold increase.

“When Netflix first launched in 1998 as an innovative DVD-by-mail subscription service it would have been difficult to imagine that, not only would it pass HBO to become the largest premium TV/movie subscription in the US, but that it would be ramping up a formidable international streaming business,” said Bill Niemeyer, TDG Senior Adviser and author of the new report.

Niemeyer added this is all the more remarkable given that Netflix launched its Internet streaming service only seven years ago, in 2007.

A separate report from Digital TV Research estimates that Netflix is aiming for 104 million international subscribers by 2020 – and this is just for the countries where it has already launched.

To date, Netflix reaches almost 54 million subscribers across the globe and according to the company’s latest financial report, its international subscriptions outside of the US have grown 78% year on year to reach just short of 14 million.