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Netflix Use Reaches All-time High on AT&T Network

Use of Netflix on AT&T’s network reached all-time highs on Friday and Saturday, the telecom said in a company update.

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“We tied our record highs from Friday in data traffic between our network and our peers, driven by heavy video streaming traffic,” AT&T said. “We continue to manage this traffic flow effectively.”

Also read: Disney Plus, Amazon, Facebook and Apple TV Plus to Also Limit Euro Streams to Standard Def

Analysts for LighShed Partners have raised estimates for Netflix’s first quarter subscriber growth to 10 million, an increase of more than 40% over Netflix’s prior guidance. The SVOD service is “in a unique position to offer fresh content to a global audience that is hungry for in-home entertainment,” LightShed said in a note to investors.

Shares of Netflix have rebounded over 20% since bottoming out with the rest of the Nasdaq at $290 a share on March 17.

Notably, Netflix announced that it would cut its bitrate down in India, reducing its traffic load on local networks by 25%. Netflix made the same announcement for Europe last week—a move followed by Disney Plus, Apple TV Plus, Amazon Prime Video, YouTube and Facebook. These downgrades effectively reduce consumer screen resolution to 480p standard definition.

Also read: In-Home Data Usage Surging, Comscore Finds

Netflix hasn’t made a similar announcement for the U.S. market. But that could change if a domestic regulator or leading telecom chose to make its traffic footprint an issue.

Comscore said in-home data usage is up 18% for March 1 through 17 compared to a year ago.