Video Streaming: Netflix grows more slowly - share falls
Netflix is the clear number one in video streaming - but growth is slowing down. Now the company wants to turn things around.
Netflix has reported its slowest growth in years, with a 12% increase in revenue to $12.9 billion in the last quarter. The company's co-CEO, Ted Sarandos, stated that Netflix aims to be the essential entertainment service that users must have. The company's growth has slowed, with concerns raised about user activity, and despite being the market leader, it has struggled to produce hits to match the success of shows like "Stranger Things" and "Squid Games".
Netflix has made changes to its leadership, including the departure of its programming chief Bela Bajaria and film chief Dan Lin, with Peter Rice taking over Bajaria's role. The company's stock has fallen over 40% in the past year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
