Netflix says it's competing with 'sleep' not Amazon or Hulu

Netflix isn't too worried about competition from fellow streaming services.

The company's CEO said Netflix's biggest competition is actually sleep.

"You know, think about it, when you watch a show from Netflix and you get addicted to it, you stay up late at night. We’re competing with sleep, on the margin. And so, it’s a very large pool of time," Netflix CEO Reed Hastings said during an earnings call, according to The Guardian.

Netflix is on the verge of surpassing 100 million global subscribers, a testament to how much the video streaming service has changed the entertainment landscape since its debut a decade ago.

The company will reach that milestone this weekend if its projections are correct.

The service added nearly 5 million subscribers during the first three months of the year in roughly 190 countries.

However, for all its success, Netflix still has a ways to go before it catches up with HBO, the popular pay-TV channel that has served as its role model. HBO has 134 million subscribers worldwide, including viewers paying for an internet-only version of the channel that was inspired by Netflix's success.

The Associated Press contributed to this report.