Netflix’s numbers continue to shine. With 50 million streaming customers, Netflix’s CEO Reed Hastings announced that it now has more revenue coming in that it’s rival, HBO.
Netflix brought in a reported $1.15 billion in subscriber revenue at the end of June, compared to HBO bringing in $1.14 billion. Of course this isn’t a huge difference, but this is the first time Netflix has surpassed HBO. Hastings called this accomplishment a “minor milestone” on his Facebook page.
“They still kick our ass in profits and Emmy’s, but we are making progress,” he added. “HBO rocks, and we are honored to be in the same league.”
A big reason Netflix is starting to surpass HBO is that users can have a Netflix account without having cable. Many people (especially young adults) don’t pay for cable – especially expanded cable that includes HBO – because other streaming services such as Netflix and Hulu are much cheaper.
Another thing helping Netflix? It’s incredibly popular original series Orange is the New Black and House of Cards. Netflix also brought back Arrested Development, which was incredibly popular on Netflix. Will Arnett just confirmed that Netflix is planning on making another season as well.
“We are going to do more Arrested Development,” Arnett told Daly on the Today show. “Ted Sarandos and Netflix kind of let the cat out of the bag on that one. It’s something we all want to do so we’re excited.”
Arrested Development was “revived” in May of 2013 after a seven-year hiatus.
Netflix was founded in 1997 originally as a DVD-by-mail service and started offering streaming services in 2007. Today, streaming is by far the most popular, although users can combine the two options or just chose one or the other. Netflix has a reported 36.2 million U.S. subscribers and 13.8 million international subscribers.
HBO was created in 1972, and has an estimated 28.7 million U.S. subscribers. Users like HBO because shows don’t have to be edited and can show (almost) anything.