Netflix Sees Competitor in HBO Go

Netflix co-founder and CEO Reed Hastings believes that there is increase in competitor between Netflix and HBO and specifically with HBO Go. At present HBO is enjoying huge popularity in cable world and its latest HBO Go service, along with attendant mobile application, is also getting success in the online video arena.

At the UBS Media conference recently, Hastings, said that, "The competitor we fear the most is HBO Go."

"They aren't competing directly with us now, but they can. HBO is becoming much more Netflix-like, and we're becoming much more HBO-like." the CEO added, reported c|net.

At present Netflix is not in a very comfortable position due to multiple issues such as from annoyed subscribers, disappointing stock market performance and difficulty in getting that kind of video content that will help it to remain a contender in online streaming video market.

Hastings' presence and his speech in the conference was one of the most anticipated one following the recent failures and troubles that the company faced. The co-founder and present CEO opened his speech by predicting the roll out of fatter bandwidth, fiber-optics and also commented that broadcast TV will face a period of decline

Hastings said. "By Q2 [of next year] we'll have twice as much content as we did in the past Q1, Q2."