Netflix has reached a new milestone as well as achieving a new bragging right, the streaming service has now passed HBO in subscriber revenue for the first time.
The Streaming Service has been competing with HBO in Emmy Nominations and now has also edged passed HBO front last quarter, earning $1.146 billion to the cable network’s $1.141 billion.
Netflix CEO Reed Hastings shared the news with his fans on Facebook, noting that his company is still behind when it comes to Emmys and Profits, but honored to be in the same league. Netflix NFLX shares rallied 4.5%, one of the better performers on a down day for the market.
The Streaming Service was founded in 1997 as an online DVD rental service, then began streaming movies and TV series online in 2007, and entered the original content business in 2011 with its Emmy winning series House Of Cards.