Business · Updated 19 Oct, 05:48 pm IST
Netflix faces investor scrutiny on engagement ahead of Q3 earnings
Why it matters for readers: It's a sign that how people watch videos is changing, and big streaming services are having to rethink their plans to keep viewers.
- Co-CEO Ted Sarandos said Netflix "is not growing as fast as I want us to," and pointed to live programming as a potential growth lever.1
- Analysts expect Netflix to report its slowest Q3 revenue growth in three years, with sales forecast up 11.8% to $12.87 billion, per data compiled by LSEG.1
- Netflix cut about 6% of its workforce in a move analysts linked to the streaming industry's shift toward profitability.1
- The company saw a content leadership change as longtime head of content Bela Bajaria left and former Disney executive Peter Rice joined the company.1
- Competition from lower-cost, creator-led video platforms is intensifying, with Nielsen data showing YouTube has nearly double the viewing time of Netflix in the US.1
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