Netflix sacked Chief Content Officer Bela Bajaria and installed former Disney and Fox executive Peter Rice in her place — the same week 1,000 employees were shown the door in the largest layoffs in the company's history. The message from corporate Hollywood is the same as always: when the stock drops, the workers pay and the executives reshuffle.
Netflix stock has cratered 40% over the past year. YouTube now commands 14.2% of U.S. TV streaming time compared to Netflix's 7.8%, according to Nielsen data cited by the Los Angeles Times. The business model is under pressure, subscription price hikes are the only revenue lever left, and the company just walked away from a Warner Bros. Discovery acquisition after the price stopped being
