Oh, we are definitely still watching Netflix

Losing subscribers? Tanking stock price? Yeah, well, it’s not exactly slowing the service down all that much. A new report says that Netflix accounts for 32 percent of US bandwidth during peak times. 32! That’s up 10 percent since last spring.

But the report also says that we might have achieved a state of peak Netflix:

“With so many Netflix-capable devices, the addressable market for the service is already enormous and will only increase, so it’s hard to envision a scenario in which absolute levels of Netflix will decline,” the report said. “However, Netflix is facing increased local competition, and as a result new services might grow at a faster rate. Globally, Netflix will grow – the service is available in almost 50 countries and the company is aggressively pursuing licensing deals with locally-focused content-but in the United States specifically, we might have seen the peak.”

That might be true. It might also be one of those assertions that seem hilariously off-base in five years.