Netflix executives cite U.S. viewing slowdown behind content leadership overhaul
Co-CEOs Ted Sarandos and Greg Peters acknowledge declining viewership and ad sales prompted restructuring.
At a glance
- Netflix co-CEOs cited slowing U.S. viewership and ad sales as drivers of content leadership changes
- Sarandos told analysts the company is prioritising execution
- Comments came during third-quarter earnings call with Wall Street
Netflix co-CEOs Ted Sarandos and Greg Peters acknowledged a slowdown in U.S. viewing and advertising sales during a call with Wall Street analysts following the company's third-quarter earnings release. The executives attributed these challenges to decisions that led to significant changes in the streamer's content leadership structure.
Sarandos emphasised the company's focus on execution amid the market conditions. The remarks came as Netflix addressed investor questions about the strategic restructuring of its content division.
Why it matters
Netflix's acknowledgment of U.S. market slowdown signals challenges for the streaming giant in its largest market and reflects broader pressures on the sector.
Original reporting
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