Streaming giant Netflix is experiencing a drop in user engagement and slowed revenue growth ahead of its third-quarter earnings report, according to LSEG data and leadership statements.
The company recently laid off about 1,000 employees—roughly 6% of its global workforce—and appointed former Disney executive Peter Rice as its new content chief following Bela Bajaria's departure.
Despite raising subscription prices and pushing advertising tiers, market research firm Apptopia reported a 20% drop in US and Canada app downloads, with company shares down approximately 26% this year.