By New York Post Staff
August 7, 2014
Jeff Bewkes (left) and Reed HastingsPhoto: AP Photo; EPA
Time Warner boss Jeff Bewkes is eating a little crow this morning.
The media executive, whose empire includes the pay TV giant HBO, famously dissed Reed Hastings’ Netflix back in 2010, saying the streaming video service was over-hyped and, despite its meteoric growth, would not amount to much.
“It’s a little bit like, is the Albanian army going to take over the world,” Bewkes boasted at the time.
Well, it’s not like Albanian tanks are rolling up Bewkes’ driveway, but last quarter Netflix’s subscriber revenue was greater than HBO’s for the first time ever.
Hastings, locked in a long-running, mostly tongue-in-cheek battle with Bewkes, couldn’t let the occasion pass without tweaking his rival.
“Minor milestone,” Hastings, CEO of the $7.99-a-month service, wrote on the company’s Facebook page, “last quarter we passed HBO in subscriber revenue ($1.146B vs $1.141B).”
Just two years ago, HBO had nearly double Netflix’s subscriber revenue.
Hastings, in his post, readily admits Bewkes’ HBO still is No. 1 in profits and in Emmy Awards.
“We are honored to be in the same league” as HBO, Hastings adds.
OK, Jeff, whaddya say?