TVWeek, NY Post

Netflix Overtakes HBO in a Key Category

Aug 8, 2014  •  Post A Comment

Reed Hastings, the CEO of Netflix, has let the world know — in a posting on his Facebook account — that Netflix has finally overtaken HBO is a key category: “Minor milestone,” Hastings wrote, “last quarter we passed HBO [in] subscriber revenue ($1.146B vs $1.141B). They still kick our ass in profits and Emmys, but we are making progress. HBO rocks, and we are honored to be in the same league. (yes, I loved ‘Silicon Valley’ and yes it hit a little too close to home.)”

The New York Post (owned by Rupert Murdoch, who recently tried, unsuccessfully, to buy HBO parent company Time Warner) wrote this in its story about Hastings’ comments: “Time Warner boss Jeff Bewkes is eating a little crow.

“The media executive, whose empire includes pay-TV giant HBO, famously dissed Reed Hastings’ Netflix back in 2010, saying the streaming video service was over-hyped and, despite its meteoric growth, would not amount to much.

“‘It’s a little bit like, is the Albanian army going to take over the world,’ Bew­kes boasted at the time.”

The Post story also notes: “Just two years ago, HBO had nearly double Netflix’s subscriber revenue.”

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