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Netflix Now Brings In More Money From Subscribers Than HBO

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HOUSE OF CARDS SEASON 2
Netflix

We should know better by now than to think Netflix executives would pass up an opportunity to annoy HBO.

The company's founder and CEO, Reed Hastings, announced in a Facebook post on Wednesday that for the first time, Netflix has pulled in more subscriber revenue than HBO over a three-month period.

And this time, he was able to talk about HBO without calling the company's CEO a "bitch."

Hastings is right to note that HBO is still far more profitable. While Netflix made $71 million in profit between April and June, HBO earned $548 million (PDF).

Should we expect Netflix to catch up anytime in the profit wars anytime soon? Probably not. Between securing TV and movie rights, deals with Internet providers to secure faster connections and the cost of original show production (including $100 million on "House of Cards" alone), Netflix continues to focus primarily on growth.

Meanwhile, HBO continues to eke out easy money from its catalogue by agreeing to deals like those allowing E! to air "Sex and the City" reruns and Amazon to stream "The Sopranos."

Netflix has had its eye on HBO for years. Ted Sarandos, Netflix's chief content officer, once told GQ magazine, "The goal is to become HBO faster than HBO can become us." Now, Netflix would just like to remind you that it's halfway there.

(h/t Quartz)

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