Netflix US TV viewership falls to 7.8% as YouTube tops 14% amid rising competition | Hindustan Times – Hindustan Times

Netflix US TV viewership falls to 7.8% as YouTube tops 14% amid rising competition | Hindustan Times  Hindustan Times

Netflix is losing its share of US TV viewership. The streaming platform accounted for 7.8% of all television viewing time in the US this year, down from 8.8% a year ago. Meanwhile, YouTube's share increased from 13.4% to more than 14%. These figures show that Americans are spending a smaller share of their TV-watching time on Netflix and more time watching YouTube, according to Nielsen data.Netflix is also facing pressure to reduce costs. On Wednesday, Netflix announced plans to cut around 6% of its workforce, affecting roughly 1,000 employees. This is the company's biggest round of job cuts since 2022. Yahoo Finance reported that the cuts come as Netflix deals with a declining audience share and a falling stock price.Netflix job cuts target four departmentsSeveral departments will be affected by the job cuts.

Netflix's product, human resources (HR), technology and legal departments will be the main focus of the reductions. The company's co-chief executive officers, Ted Sarandos and Greg Peters, shared the information in an email to employees.YouTube competition puts pressure on NetflixYouTube and other media companies are putting pressure on Netflix. YouTube has increased its share of US TV viewing while Netflix's share has declined. This growing competition is making it harder for Netflix to maintain its position in the streaming market, Yahoo Finance reported. Even Warren Buffett has