SAN FRANCISCO — Netflix subscribers watched more than 1 billion hours of online video last month as the advent of high-speed Internet connections and high-powered mobile devices change people’s viewing habits.
The milestone announced Tuesday by Netflix CEO Reed Hastings came a day after Citigroup analyst Mark Mahaney issued an upbeat report about the company’s future. The rising usage of Netflix’s Internet video service may turn out to be a mixed blessing as the company phases out its DVD-by-mail rental service to focus on building a franchise in Internet-streamed video.
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