From Business Insider · James Faris · · 1m 10s
Netflix co-CEO says US content needs to improve
Ted Sarandos acknowledged Netflix's American shows and movies are underperforming after the company replaced its content chief.
In brief
Ted Sarandos acknowledged Netflix's American shows and movies are underperforming after the company replaced its content chief. Netflix co-CEO Ted Sarandos said the streamer must improve its US content execution, prompting leadership changes including replacing content chief Bela Bajaria with Peter Rice. Originally…
Sarandos admits US content is lagging
Netflix co-CEO Ted Sarandos said on the company's Q three earnings call on Tuesday that Netflix needs better execution in the US market specifically.
“We do need better execution in the US”
US is Netflix's biggest market but growth is slow
The US and Canada generated about forty four percent of Netflix's revenue this quarter at five point six billion dollars, but growth is slower than desired.
“It's just not growing as fast as it could, or as fast as we'd like”
Netflix replaces content leadership
Netflix announced it will replace content chief Bela Bajaria, who oversaw movies and shows since twenty twenty three, with former Disney and Fox executive Peter Rice.
Netflix cuts staff and stock falls
Netflix cut roughly one thousand workers in its biggest reduction since twenty twenty two. Shares fell six percent after hours following the earnings report showing slowing revenue growth.
The headline
Netflix co-CEO Ted Sarandos said the streamer must improve its US content execution, prompting leadership changes including replacing content chief Bela Bajaria with Peter Rice.
