A year ago, Netflix (NFLX) captured 8.8% of total television viewing time in the United States, compared with Alphabet's (GOOG) (GOOGL) YouTube’s 13.4%, according to Nielsen. This year, Netflix’s share has slipped to 7.8%, while YouTube’s has climbed above 14%.
The pressure stems from intensifying competition among streaming platforms and softer consumer engagement, despite Netflix’s efforts to broaden its appeal through live sports, video podcasts, and programming from independent content creators. Adding another layer of uncertainty is the potential impact of the Skydance (SKYD) merger, whose implications for Netflix’s growth remain uncertain.
