Here is some good news for Netflix, Inc. (NASDAQ:NFLX) and companies just like it as results from a new study by the Leichtman Research Group, Inc. (LRG) say that almost half of US households have subscriptions to streaming services, a report from Stuart Varney reveals.
According to LRG, 47% percent of households in the country subscribe to Netflix, Inc. (NASDAQ:NFLX), Amazon.com, Inc. (NASDAQ:AMZN), or Hulu, or a combination of the three. The insight was gained in LRG’s Emerging Video Services study, now in its eight year. The study was based on a survey of 1,211 households throughout the country.
Furthermore, it seems that Netflix, Inc. (NASDAQ:NFLX) is increasingly all the entertainment people who subscribe to it need. The study found that there has been a decline in the number of subscribers to the streaming service who also subscribe to pay-TV. According to LRG, 80% of Netflix subscribers also had pay-TV, a decline from 85% in 2012 and 88% in 2010.
There was also an increase in non-pay-TV subscribers getting Netflix, Inc. (NASDAQ:NFLX) with the study finding 48% for the current study period compared to 29% in 2012 and 16% in 2010. However, it said that 15% of Netflix subscribers agreed that their subscription is shared with others outside their household.
Varney and the team at Fox Business then discussed whether the streaming service can make further inroads to the television industry. The team agreed that it can with its content but noted that as long as a “top cable industry lobbyist” is running the US Federal Communications Commission, “so long as the cable guy are run the show in D.C.,” people have to wonder how far the company can push back. The team was referring to Tom Wheeler, the current FCC chairman who previously held top posts in the National Cable Television Association and the Cellular Telecommunications & Internet Association.
The team also discussed in the video below the AT&T Inc. (NYSE:T) and DIRECTV (NASDAQ:DTV) deal, the scandal over Qatar being alleged to have bribed their way to hosting the World Cup and the protests in Brazil as the 2014 FIFA World Cup is about to kick off.
Netflix, Inc. (NASDAQ:NFLX) shareholders includes Israel Englander’s Millennium Management and Edmond M. Safra’s Ems Capital which reported stakes of 100,967 and 100,000 shares by the end of March. Each of these stakes are valued at about $35.54 million and $35.20 million respectively.