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Netflix Exceeds 40 Millions Members, Overtakes HBO

Posted by: , 21:44 AEDT, Sat October 26, 2013

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Netflix adds more subscribers and manages to overtake HBO in the US
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Netflix now has more than 40 million members, including 29.93 million US subscribers. This means that in the US, Netflix now has more subscribers than HBO, who at the last count, had 28.7 million members.

Netflix released these figures as part of their third quarter reporting. The report shows that Netflix's international customer based has more than doubled, from 4.31 million members a year ago, to now 9.19 million.

Overall, Netflix added more than 2.73 million subscribers globally in the third quarter.

While Netflix's revenue remains high, over $1.1 billion in recorded revenue for the quarter, net income remains low (although up significantly compared to the same time last year): just $32 million, or 52 cents a share.

In the letter to shareholders, Netflix once again stressed the success of original programming and vowed to double the company's investment in original shows in 2014. Netflix's House of Cards won the first ever Emmy award given to a non network TV series, and Orange is the New Black has recorded viewership numbers equal to popular shows on cable and broadcast TV.

The letter also referenced the growing popularity of smart TV and Internet TV devices, such as the AppleTV, Roku, and Google's Chromecast, in helping Netflix gain more customers. 

Netflix also hinted at integration of cable TV boxes. Many cable TV companies see Netflix as a rival, but the recent deal with Virgin Media in the UK which will see their set-top boxes include Netflix integration, may be a sign of the future for these rivals. Netflix cites Virgin Media's believe that integration improves user satisfaction, and the integration will help Virgin gain more customers in the UK.


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