Netflix Hits Revenue Milestone

Netflix CEO Reed Hastings announced this week that the streaming video service now makes more revenue from its 50 million customers than its premium cable network rival HBO. Netflix, which brought $1.15 billion in subscriber revenue in June, is also growing at a faster rate than HBO. No gloating on Netflix's end though – Hastings added in his announcement that "HBO rocks, and we are honored to be in the same league." Read the full story on the impressive growth of Netflix here.