Paraphrasing: The main difference is that Netflix broadcasts via the internet while HBO broadcasts on cable and the internet.

So not a vast difference.

As the cable TV bundle starts to peter out, all of these entities are just effectively studios, i.e. entities with money that fund TV shows/movies with various exclusive distribution rights for some periods.

One of the questions becomes what does the new bundle look like? (or the a la carte package.) Because there are pretty clearly a limited number of monthly subscriptions that most consumers are willing to pay for especially if they're in the >$10 range.

For anyone outside the US it is. Or at least in the UK, I can't get watch HBO without jumping through VPN hoops.

Don't they license pretty much everything to Sky? NowTV costs about the same as Netflix, UX/UI is rubbish but you should get all their current HBO content.

Hmm you are right. I thought they had at least a few of the big markets. But no, seems like US only.