Few would have backed Netflix to be able to take on the likes of HBO when the streaming service first launched in 1997, but the company has now announced that its revenue from subscribers has overtaken one of the biggest names in television.
HBO's $1.141 billion in revenue from paying customers is now just shy of Netflix's, with CEO Netflix Reed Hastings proclaiming a "minor milestone".
Reed was quick to praise HBO for its profit margin and its award-winning output on his Facebook page.
"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," he said.
Although it cannot boast series as popular as HBO's leviathan Game of Thrones, Netflix's own output is picking up great acclaim - with both Orange is the New Black and House of Cards critical darlings.
What is perhaps most significant about the news is that it underlines just how quickly non-traditional media is impacting on our viewing habits.
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