Netflix Co-CEO Acknowledges Slower Growth as Viewership Rises Just 2% in First Half

Netflix shares have dropped nearly 50% from their June 2025 peak of $134 to around $68 following slowing user engagement and competition. Co-CEO Ted Sarandos admitted that platform growth is slower than desired, reporting that viewership rose by just 2% year-over-year in the first half of 2026 across 200 billion viewing hours. Despite double-digit regional revenue expansion, live programming currently delivers only 1% of total viewing hours while absorbing 5% of the company's $20 billion content budget. The stock lost 14% in September, with forward valuations compressing to 18 times projected 2027 earnings.