Netflix Poised to Pass HBO in Paid U.S. Subscribers
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Netflix Inc. is poised to pass HBO in paid U.S. subscribers, showing Chief Executive Officer Reed Hastings is making progress toward a goal of transforming the streaming service to a Web-based television network.
Netflix, based in Los Gatos, California, reports third-quarter results today after markets close. Already the world’s largest subscription-video service, the company probably reached 30 million paying U.S. customers as of Sept. 30, according to Needham & Co. HBO, Time Warner Inc.’s premium cable-TV network, has about 28.7 million, according to researcher SNL Kagan.