Well, if they depended on advertising, ratings would be much MORE important, and they actually be much quicker to cancel. This wouldn't have lasted half a season on network TV, even with a lot of positive buzz.
HBO does have to maintain good, quality programming to keep subscribers, but that doesn't explain "Sex and the City", "Girls", "True Blood", and "Entourage". Ratings obviously do matter or we wouldn't have had about 40 combined seasons of that crap. But there was a real lack of promotion of this show.
Also, there are plenty of cult movies, but it's unusual for there to be a cult TV show, or at least one that lasts very long. This lasted more seasons than "Arrested Development", "Twin Peaks", or "Kolchak, the Night Stalker".
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