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Netflix: HBO is still kicking our ass

Netflix reports higher subscriber revenue, but knows it has a way to go

Netflix now has higher subscription revenue than HBO, but not wanting to brag too much, CEO Reed Hastings admitted that the cable channel is "still kicking our ass in profits and Emmy's".

Hastings has always said that he considers quality networks like HBO the competition as opposed to other online-only services, and previously stated that his goal was to "become HBO faster than HBO can become us."

Netflix has now surpassed it in terms of revenue at least ($1.146 billion to HBO's $1.141 billion), with Hastings writing on Facebook: "Minor milestone: last quarter we passed HBO in subscriber revenue.

"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 (Yes, I loved Silicon Valley and yes, it hit a little close to home)."

HBO shows like True Detective and  Netflix originals like Orange Is The New Black continue to dominate water cooler discussion of TV, with the streaming service's next new venture to launch being the cartoon BoJack Horseman starring Will Arnett and Aaron Paul.