Netflix Poised to Pass HBO in Paid US Subscribers

Netflix is poised to pass HBO in paid US subscribers, showing Chief Executive Officer Reed Hastings is making progress toward a goal of transforming the streaming service to a Web-based television network.

The company probably reached 30 million paying US customers as of Sept. 30, according to Needham. HBO, Time Warner’s premium cable-TV network, has about 28.7 million, according to researcher SNL Kagan. To fuel more growth, Netflix is looking to bring its Web-based service to cable-TV systems. Cable providers are starting to see the $8-a-month subscription as an asset, and some are working to integrate Netflix with traditional programming. “Consumers are probably going to come to see Netflix as being more valuable than other networks,” said Tony Wible, an analyst at Janney Capital Markets.