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Consumer surveys show that Netflix ( NFLX ) continues to make subscriber gains in the U.S. but is having a rough time penetrating the market in Japan. RBC Capital Markets surveyed over 1,000 Internet users in the U.S. and over 1,500 in Japan in February about their streaming video usage. The U.S. survey found that 53% of Internet users now use Netflix to watch movies and TV shows, up from 51% in November. By comparison, 46% use Alphabet ’s ( GOOGL ) YouTube and 27% use Amazon.com ( AMZN ) to watch videos. The survey also found near record-high satisfaction levels and near record-low churn. Some 70% of Netflix subscribers say they are “extremely” or “very satisfied” with the service, the second highest level in 18 quarterly surveys and up from 69% in November. Plus, 72% of Netflix subscribers say they are “not at all likely” to cancel, though down from 75% in November. In RBC’s first Netflix survey in Japan, it found that just 1% of respondents use Netflix to watch movies and TV shows. That compares with 39% for YouTube, 13% for Nico Nico & GYAO!, 7% for Amazon and 5% for Hulu. Netflix entered the Japanese market on Sept. 2. RBC analyst Mark Mahaney reiterated his outperform rating on Netflix stock with a price target of 140. Netflix stock was up 3.5% to above 101 in late afternoon trading on the stock market today . Mahaney believes Netflix can climb to 180 million subscribers worldwide by 2020. It ended 2015 with 74.76 million total streaming subscribers, including 44.74 million in the U.S. “We believe that Netflix has achieved a level of sustainable scale, growth, and profitability that isn’t currently reflected in its stock price,” Mahaney said. RELATED: Netflix Growth Potential Underestimated, Analyst Says . Scalper1 News
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