Netflix Reaches Streaming Milestone

There's no denying Netflix's popularity, but many people probably don’t realize how much content is streamed each month. In June, Netflix subscribers watched more than 1 billion hours of online video, which marks a milestone for the company.

With a post to his Facebook page, Netflix CEO Reed Hastings congratulated his team on reaching the viewing milestone. The post reads, "Congrats to Ted Sarandos, and his amazing content licensing team. 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!"

According to the Associated Press, 1 billion hours of collective viewing averages out to 38 hours per streaming subscriber. In December, it was estimated that customers averaged about 28 hours per month. Netflix is currently in the process of phasing out its DVD-by-mail rental service in order to focus on streaming content. Over the past two years, Netflix has expanded its selection of streaming content.