Netflix has competitors. If we assume that leisure-time hours are fixed in the short term, the more hours you spend watching Netflix, the less you have available for Hulu, Amazon Prime, CBS, HBO, MLB, or Disney streaming services. Thus, if all those have comparable prices, more hours watching Netflix translates to greater subscriber-perceived entertainment value for money spent on watching Netflix than on the other services.
Netflix does not have to be number one, but it does have to be high enough on people's ranked lists to be above their individual fragmentation threshold.
If a customer's hours watched is low and dropping, Netflix is in danger of losing them as a customer, especially when Disney comes online later.
Perhaps if CBS All Access tracked that number, they would give up, and contract with Netflix or Hulu to stream their content. It seems to me that it is the service that would be least likely to get subscribers that are already at or near their fragmentation tolerance.
