Just Passing Through said:Actually a better indicator might be Funimation's Youtube streams, which do us the favour of counting the views. Check the page for the Fairy Tale streams. Again, these are streaming to the (much of the) world, not just the US, or the UK. They've been putting up two episodes a week every week. The most recent episodes have been up for three weeks, and they've only had around 12.000 and 14.000 views respectively. Worse, the episodes reach a plateau point after some time, and the majority of the earlier episodes peak at around 30,000 views.
To make content free, they have to sell advertising on the strength of those numbers, thousands where companies would much rather reach millions. And Anime on Demand is a fraction of that.
It's why I feel that the anime industry as a whole, from all the way back at the start point, should be subsidising free streaming as a loss leader for eventual home media sales.
The numbers above highlight the problem and the bottom is indeed a solution - I think the question is how do you best make a loss leading exercise translate into sales of the physical product. As not everyone is as diligent (sadly) to go out and buy the physical product when it comes out if they liked a free stream of a whole series.
Cycling content may help towards that or specifically tying those fans into opportunities for exclusive merchandise maybe. There's definitely got to be an effective way to do it though.
Tl;dr - JPT gives an excellent example with Fairy Tail.