Netflix shares fall; content under scrutiny
Netflix’s share price has lost nearly half its value in twelve months, falling from around $124 to $68. The share price fell further this week to a two-year low, following the publication of third-quarter results and the… downward revision of profit forecasts for the fourth quarter. The company has also announced the redundancy of 6 per cent of its workforce, representing around 1,000 roles across the product, technology, legal and human resources teams. At the same time, Netflix says it remains “on track ” to meet its annual targets. Price rises The changes are not limited to the figures. Netflix has reshuffled its content leadership by ousting Bela Bajaria, its long-serving chief content officer, who has been replaced by Peter Rice, former head of general entertainment at Disney. Ted Sarandos,…