## Netflix’s Bullish Days May Be Numbered?

Former NBC Cable President Tom Rogers, once a staunch Netflix supporter, is starting to have second thoughts about the streaming giant’s future. Here’s a breakdown of his concerns:

• Slowing Engagement: While Netflix still boasts more hit shows than its competitors, Rogers notes that the amount of viewing time per subscriber is decreasing.
• YouTube’s Rise: YouTube is gaining ground, accounting for a significant portion of total TV viewership, surpassing Netflix in overall engagement.
• Earnings vs. Engagement: Though Netflix delivered a positive quarterly report, Rogers emphasizes that engagement is key to driving price increases and programming budgets.
• Stock Dip: Despite the positive earnings report, Netflix’s stock has declined since its recent high.
• AI’s Impact: Rogers sees AI as a “double-edged sword.” While it can help Netflix with targeted advertising and cost-cutting, it also empowers independent creators, potentially boosting YouTube’s content quality.
• Still the Leader: Rogers still believes Netflix is the most valuable media company, but he cautions that its slowing engagement is “something to watch.”

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