Netflix surpasses HBO in US subscribers

Netflix reached 29.16 million subscribers in the first quarter of 2013, surpassing HBO for the first time ever.

At the end of 2012 Netflix had 27.15 million subscribers compared with HBO’s 28.7 million. Since then Netflix has increased by over 2 million, edging past HBO by almost 500,000.

The news comes alongside Netflix’s first quarterly report for 2013, in which it revealed that over 4 billion hours of content had been streamed, bringing in a record-breaking revenue exceeding $1 billion.

However, Netflix is still far behind HBO when it comes to global uptake. HBO has 114 million subscribers across the globe, whereas Netflix has just 7.14 million outside of the US.

SNL Kagan will release a first quarter update next month on premium channels, which could see HBO at the top of the chart again.