GoKawiilNetflix Co-CEO Sarandos Says Engagement Growth Slowed to 2%
At a Bloomberg conference in Los Angeles, Netflix co-CEO Ted Sarandos said global engagement grew just 2% in the company's most recent reporting period, even as revenue kept growing at double-digit rates across every region. He said Netflix is responding by investing about $1 billion, roughly 5% of its $20 billion annual content budget, in live programming such as sports, wrestling, comedy and major cultural events.