{
  "id": 16443779,
  "title": "Why Netflix is struggling to find its audience",
  "url": "https://urgent.news/2026/10/25/why-netflix-is-struggling-to-find-its-audience",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-25T06:34:42.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/why-netflix-struggling-find-its-audience"
  },
  "original_language": "en",
  "account": "Netflix, the globally renowned streaming giant, faces challenges in captivating audiences as rivals like YouTube, Apple TV, and HBO Max gain traction for their content. The company, which once revolutionized the entertainment landscape by delivering movies by mail and producing acclaimed series like House of Cards and Stranger Things, now grapples with a creative slump. This slump coincides with YouTube's surge in TV viewing time in the US and the critical acclaim garnered by Apple TV and HBO Max.\n\nNetflix's financial performance has been sluggish, reporting its weakest sales growth in three years in the third quarter of 2022. This trend is projected to continue for the final quarter of 2026, causing investor concerns and a 28% drop in the company's stock this year. In response, Netflix announced plans to lay off 6% of its workforce, eliminating around 1,000 jobs, the largest reduction in staff since 2022.\n\nThe company's leadership, including co-CEO Ted Sarandos, acknowledged the need for ambitious, exclusive films, series, and live events. However, despite launching new offerings such as the supernatural series inspired by the Addams Family cartoons and the animated musical KPop Demon Hunters, Netflix has yet to find its next cultural phenomenon. This struggle is evident in Netflix's July engagement report, which shows a modest 2% increase in time spent by subscribers in the first half of 2022.\n\nTo revitalize its creative output, Netflix has hired veteran entertainment executive Peter Rice as its new chief content officer. Sarandos hopes Rice, who previously held top film and television roles at Walt Disney and Fox, can propel Netflix's slate to new heights. This move comes as YouTube dominates global daily viewing time and outpaces Netflix in the US living room. YouTube's diverse content, ranging from how-to videos to children's animation and personality-driven channels, has contributed to its dominance. As Netflix continues to compete with YouTube, the company is leveraging its strategy of attracting top talent and securing content deals with major studios to regain its creative momentum.",
  "summary": "The company’s creative drought comes as rivals YouTube, Apple TV and HBO Max increasingly pull in views",
  "key_points": [
    "Company faces creative slump, reporting weakest sales growth in three years in Q3 2022.",
    "Netflix announces layoffs of 6% workforce, totaling around 1,000 jobs, largest reduction since 2022."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}