According to a Facebook post from Netflix CEO Reed Hastings, subscribers to the video streaming site viewed more than 1 billion hours of video last month, marking a new record for the company.
“Congrats to Ted Sarandos, and his amazing content licensing team,” wrote Hastings. “Netflix monthly viewing exceeded 1 billion hours for the first time ever in June. When ‘House of Cards’ and ‘Arrested Development’ debut, we’ll blow these records away. Keep going, Ted, we need even more!”
Netflix is still working to repair the damage done last year after splitting off its DVD-by-mail service. This new milestone may be the result of those efforts.
“Netflix ended the first quarter with more than 26 million subscribers worldwide, which was a new high for the company and more than 1.5 million above the number it had in the fourth quarter of last year,” reports TechCrunch. “More importantly, its subscribers are engaged and watching a ton of video on the service.”
After Hastings’ announcement, the company’s stock rose 6.2 percent, its largest gain since May 23, reports Bloomberg. In total, Netflix stock has risen 4 percent in 2012 so far.
According to a Facebook post from Netflix CEO Reed Hastings, subscribers to the video streaming site viewed more than 1 billion hours of video last month, marking a new record for the company.
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