Much has been made of the competition between Netflix and HBO.

Recently, NPD Group released a report indicating that Netflix was gaining ground against premium channels like HBO, indicating the such channels were losing subscribers. HBO called bullshit on the report, which was mysteriously removed from NPD’s site.

Later, during an earnings call, Netflix CEO Reed Hastings would suggest that HBO is Netflix’s “bitch”. When the company released its earnings, it also announced that it has 44 million subscribers. 33.4 million of them are in the U.S.

Time Warner has now released its own earnings, and revealed that HBO has about 29 million U.S. members.

Still, HBO remains more profitable. Find Time Warner’s release here.

Netflix says it will spend $3 billion on TV and film content this year. It also announced a $400 million senior note offering.

Image via Netflix