Netflix has a problem layoffs can't solve
Source: Business Insider ·
Netflix's big worry isn't other streamers like HBO, but mega tech platforms like YouTube and TikTok.
From the source
Netflix co-CEO Ted Sarandos has guided the streamer through growth concerns before. Can he pull it off again?Bloomberg/Getty ImagesNetflix has responded to a slumping stock price by cutting 6% of its staff.The streamer has dealt with growth concerns before and bounced back.This time around could be different: Netflix's big worry isn't other streamers like HBO, but mega tech platforms like YouTube and TikTok.The good news for Netflix: It's been here before.In 2022, after years of breakneck growth and go-go spending, the streamer suddenly lost subscribers. Cue layoffs, a hasty pivot to an ad model it had always criticized, and tons of industry schadenfreude.But it turned out that Netflix's growth problems were overstated. Or at least, that its growth problems weren't a sign of opportunity for its streaming rivals.Years later, Netflix's position at the top of paid streaming services remains unchanged. Meanwhile, Wall Street has grown tired of watching would-be competitors like Paramount…