In a status update on Facebook, Netflix CEO Red Hastings said that Netflix now generates more revenue than premium pay channel Home Box Office (HBO). Reed said in his post that the company managed to pull in $1.146 billion compared to HBO's $1.141 billion.
"Minor milestone: last quarter we passed HBO is subscriber revenue ($1.146B vs $1.141B)," Hastings wrote on Facebook. "They still kick our ass in profits and Emmy's, 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 close to home.)"
Of course HBO also "kicks their ass" in subscribers and original programming too – it has 130 million subscribers worldwide.
Netflix would probably make more profits if it didn't have to pay Comcast, Verizon, and others for faster access to customers, but Time Warner Cable probably has to pay a little more for HBO GO to its competitors…
Source: Ars Technica