|| Author: James Johnson|Tags: ,

Netflix Shares Soar After Company Announces 2 Billion Streaming Hours

Netflix Streaming Service

Netflix on Wednesday announced that the fourth quarter brought with it 2 billion streaming hours of TV shows and movies to 20 million streaming subscribers, enough to raise the company’s shares by 8.4%.

Shares may have also rose after analyst Gene Munster of Piper Jaffray told CNBC that Netflix could be a smart acquisition move for Yahoo! Inc.

Speaking of his companies recent successes CEO Reed Hastings said:

“We were thrilled to deliver more than two billion hours of TV shows and movies across 45 countries in the fourth quarter,” while adding, “Netflix delights members by giving them choice, convenience and control over the entertainment they love for an incredibly low price.”

While Netflix has lost more than 800,000 subscribers since raising its rates by nearly 60% the number of hours watched based on the number of subscribers shows that Netflix buyers are making the service enough a part of their lives to show positive user interaction.

To put the success of Netflix streaming into comparison users watch 33 hours per month compared to YouTube where 151 million users watch an average of 7 hours per month.