HBO Under Pressure from TV Ratings as Netflix Soars

Fortune: HBO, unlike Netflix, lives and dies by the rating like every other movie studio and TV network, and the results for one of its new shows — “Vinyl,” a look at the record industry in the 1970s — are said to be underwhelming. So Netflix looks like a star for spending billions on new dramas and comedies, and HBO looks vulnerable because it spent more than $100 million on a show that could be a flop.