In the third quarter, Netflix has passed HBO in terms of domestic subscribers and the company's shares are up as well.
Netflix's online streaming service is now up to 31 million U.S. subscribers, passing HBO's 28.7 million, Los Angeles Times reports.
Worldwide, Netflix has over 40 million subscribers, a more than 10 million boost from the previous year. This is where HBO has the internet streaming site beat, with 117 million subscribers in 2012.
The company's increased success is being heaped at the feet of their exciting series, such as Orange Is The New Black. "'Orange Is The New Black' has been a tremendous success for us," CEO Reed Hastings wrote to investors. "It will end the year as our most-watched original series ever and, as with our other previously launched originals, enjoys en audience comparable with successful shows on cable and broadcast TV."
According to The New York Times, this news has investors happy and the company's shares rose as a result, up to new heights at $390.
Hastings and financial officer, David Wells, turned the focus less of the stock as "some of the euphoria today feels like 2003," where the stock rose and then violently dipped by the end of the year. Instead, the two brought the focus back towards membership levels, which has grown "every year fairly steadily."
Hastings added, "We have done well but we have a long way to go to match HBO's 114 million global member count or their well-deserved Emmy Award leadership."
image: Netflix.com