Ask HN: Some questions about Netflix

I've been trying to find out some information on Netflix because I'm really curious about the largest cloud computing user ever and how they deliver their videos.

1) How much storage does its raw or raw-ish video take up? By that I mean the video before it is converted into the different types of formats all the phones/tablets/operating systems use. I can't find any number.

2) How much storage its videos occupy after it transcodes them to all of the different formats.

I'm wondering if it's viable to store videos in one base format and because CPUs are getting so much faster and faster - transcode the video on the fly to the codec needed for a certain device. Additionally, maybe keep a video converted to some common formats and do more niche/exotic ones on the fly.