Netflix co-CEO admits viewership growth is lagging and seeks faster expansion

During a Bloomberg Screentime presentation, Netflix co-CEO Ted Sarandos admitted that the streaming service's engagement grew just 2% in the first half of 2026, falling short of his expectations. He highlighted the company's investment in live programming, which accounts for about 5% of content spend and generates roughly 1% of viewership, as a strategy to attract new subscribers and reduce churn, especially through high-profile events like the NFL.

Sarandos emphasized that Netflix remains focused on professionally produced series and films, distancing itself from the user-generated content model despite recent collaborations with YouTube creators. He also addressed questions about the previously won Warner Bros. acquisition, stating the deal was priced correctly for shareholder value. Finally, he ruled out introducing a free, ad-supported tier, arguing it would undermine the core product.