tweeted this article. It's from a couple months ago, but it is dense with information and worth a look. Some interesting tidbits:
"In the first quarter of 2015, Netflix’s 41M US accounts averaged nearly 2 hours of video on the service each day – making the “network” bigger than two of the four major US broadcasters and twice as large as the largest cable network."
Quoting the Hollywood Reporter:
“Let’s say you had a show where 80 percent of the people you show it to think it’s pretty good. They might watch it, but none of those people think it’s a great show nor is it their favorite show. But then you have another show where only 30 percent of people like it. For every single one of them, they’re going to watch every single episode and they love it. Well, in an on-demand world, show No. 2 is more valuable.”
And a whole section on original television series: "...the heightened competition in original series has increased both the risk and the costs involved with the content form. ... To secure the best series, networks have also been forced to significantly increase their bids and commitments ...As a result, it’s not uncommon for networks to renew shows before their pilot has even aired – thereby increasing downside risk considerably."
And: "Many of today’s original series are being cancelled not because they aren’t good enough or because there’s too much out there, but because the industry’s business models and metrics haven’t been updated to the on-demand, non-linear era. Until that changes, cancellation rates will only get worse."