Reed Hastings announced on his Facebook page yesterday that Netflix subscribers viewed 4 billion hours of video during the first quarter. Media analyst Richard Greenfield of BTIG Research suggests that subscribers are viewing an average of 87 minutes of streaming content per day via the video-on-demand service, up from 79 minutes in June 2012. “Netflix is now likely the most-watched cable network,” said Greenfield.

“Helping Netflix achieve impressive numbers are its original shows like ‘House of Cards’ and, beginning in May, a new iteration of ‘Arrested Development,'” notes The Hollywood Reporter.

“After failing to live up to subscriber growth expectations in 2012, the question facing investors is whether Netflix’s continued ramp in programming investment is paying off,” Greenfield wrote. “With streaming per sub per day continuing to tick higher… we presume churn is continuing to fall — implying that the price/value of a Netflix subscription is increasing.”

In related news, THR reports that Netflix has extended its existing deal with Hasbro Studios to offer more exclusive streaming programs for kids. Netflix will remain the streaming home for “My Little Pony: Friendship Is Magic,” “Transformers Prime” and “Transformers Rescue Bots” — while adding “Kaijudo: Rise of the Duel Masters” and “Littlest Pet Shop.”

Episodes of the five shows will be made available via Netflix one month after series finales air on The Hub Network.

“In 2012, Netflix users streamed 2 billion hours of children’s programming,” notes the article.