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Barchart
Ruchi Gupta

Netflix’s Own Co-CEO Just Warned of Slowing Growth

Netflix ETF NFLX Ted Sarandos

Netflix (NFLX) co-CEO Ted Sarandos, speaking at Bloomberg's Screentime conference in Los Angeles on Wednesday, said the streaming giant is not growing as fast as he wants. He later clarified that the business is healthy and growing fine.

Sarandos noted Netflix spends about 5% of its $20 billion annual content budget on live programming, which drives roughly 1% of viewership but generates plenty of signups and helps reduce churn. He also brushed off regret over Netflix's brief winning bid for Warner Bros. Discovery (WBD) and downplayed its YouTube creator deals as a strategy shift.

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