But how are Americans tuning in, so to speak?
According to a new report from Nielsen, about half of Netflix users are watching through their Wii, Xbox 360 or PlayStation 3, showing that the service has a firm hold among gamers.
The study also confirmed some things that you might expect: Netflix users are most likely to watch a movie on their TVs, while Hulu users tend to watch television shows on their computers. Even those who do watch Hulu on the big screen do so by hooking up their computer to the TV.
Online video is growing at a stunning rate — Netflix has already declared the end of the DVD era — but data caps from ISPs and mobile carriers could hamper its growth.
In fact, the Nielsen study showed that only 6 percent of Netflix users and 3 percent of Hulu users said they watch on their smartphones or tablets.