Netflix Hits Every Panic Button. Now What?
To hear Ted Sarandos tell it, things are going great at Netflix.
“Our business and our business flywheel are working,” the co-CEO said on this week’s earnings call — a week after laying off a thousand employees, and unceremoniously firing content chief Bela Bajaria, whose sudden perp-walk out of the company’s HQ has shaken even an industry accustomed to volatility.
So while revenue was up, engagement was up and churn was down, strange things are afoot at Netflix — and it’s now legacy studio operator Peter Rice‘s job to sort things out; to turn some of Netflix’s “doubles and triples,” in…
The skinny
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