Netflix's stock has been a rollercoaster these past couple years. But there's no doubt the company holds major clout in the video streaming space.
Netflix single-handedly accounted for a staggering 33% of prime-time internet traffic in North America in September, according to Sandvine's Global Internet Phenomena Report, which was released today. The company eclipsed competitors such as Amazon and Hulu by a multiple of at least 18.
“People are absolutely using their Netflix service,” Dave Caputo, chief executive officer of Waterloo-based Sandvine, told Bloomberg. “I don’t know whose library is better or bigger, but it’s very clear that people use Netflix a lot more.”
From 9pm to 12am, specifically, Netflix owns one-third of all downstream internet traffic. In 2010, Netflix's share of peak internet viewing traffic was a slightly less insane 20%. But even today, competitor Amazon's share is less than 2%, as is Hulu's. HBO Go isn't even close to reaching 1%.
Even Sandvine thought the competition would stagnate Netflix's growth; the Canadian company anticipated Netflix's share had peaked in 2011 at just under 33%. But Netflix is doing what Apple managed to do with the iPad—maintain and even grow share as competitors flood into the space.
Netflix shares are up nearly 3%, which is saying something, considering the Dow and Nasdaq are both down 2%.