Ted Sarandos admits shortfall as Netflix faces 20% downloads drop
Technology
Netflix's third-quarter earnings are due soon, but things aren't looking too bright.
User engagement is down, and even Co-CEO Ted Sarandos admits growth hasn't lived up to hopes.
Their moves, like raising prices and pushing for stronger advertising, haven't really paid off, with app downloads in the US and Canada falling by 20%.
Netflix stock slide, leadership shuffle
Netflix stock has slid about 26% this year, and there's been a leadership shuffle: content boss Bela Bajaria and film head Dan Lin have exited, while former Disney executive Peter Rice steps in.
Sarandos says they might try live programming to keep up with Amazon and Disney, but without a fresh hit show lately, keeping subscribers hooked is still a struggle.