--- title: "Ted Sarandos Says Netflix 'Could Do Better’ as YouTube, TikTok Threaten to Steal Viewers: Time to Take Shows and Movies 'To The Next Level'" type: "News" locale: "en" url: "https://longbridge.com/en/news/302541141.md" description: "Netflix co-CEO Ted Sarandos acknowledged the need to improve content quality as competition from YouTube and TikTok intensifies. Amidst leadership changes, including the departure of chief content officer Bela Bajaria, and recent layoffs, Netflix aims to refocus on high-quality programming. The company reported Q3 revenue of $12.87 billion but lowered its Q4 earnings forecast, causing shares to drop 5.69% in premarket trading." datetime: "2026-10-21T09:45:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/302541141.md) - [en](https://longbridge.com/en/news/302541141.md) - [zh-HK](https://longbridge.com/zh-HK/news/302541141.md) generator: "portal-rs" --- # Ted Sarandos Says Netflix 'Could Do Better’ as YouTube, TikTok Threaten to Steal Viewers: Time to Take Shows and Movies 'To The Next Level' On Tuesday, **Netflix Inc.** (NASDAQ:NFLX) co-CEO **Ted Sarandos** acknowledged room to improve the streaming giant’s content strategy as the company reshuffles leadership, cuts jobs and faces mounting pressure to reignite growth. ## **Netflix CEO Wants Better Shows and Movies** During the company’s third-quarter earnings call, Sarandos said Netflix plans to concentrate on producing high-quality television shows and movies that make the service indispensable to subscribers. "I know that we could do better," Sarandos said, adding that the company sees an opportunity to take its programming lineup "to the next level." The comments come as Netflix navigates intensifying competition from **YouTube**, a subsidiary of **Alphabet Inc.’s** (NASDAQ:GOOG) (NASDAQ:GOOGL) **Google**, and **TikTok**, which are vying for viewers’ attention. The company has expanded into video games, podcasts and live events, but some analysts have questioned whether these initiatives are distracting it from its core entertainment business. PP Foresight analyst **Paolo Pescatore** described Netflix as a profitable operation but argued that it had taken on too many unwanted distractions. He said the company needed to refocus on delivering compelling content, Reuters reported. **Read Also: ‘I Watch Something on YouTube Every Day’ but Netflix a ‘Dormant Subscription,’ Says Chamath Palihapitiya Underlining a Financial Lesson** ## **Netflix Resets Content Leadership Amid Growth Concerns** Last week, Netflix laid off about 1,000 employees, or roughly 6% of its workforce and announced major leadership changes. Former **Walt Disney Co.** (NYSE:DIS) and **Fox** executive **Peter Rice** will replace **Bela Bajaria** as chief content officer. Film division head **Dan Lin** is also departing, with Rice temporarily overseeing the film business until a successor is appointed. The company also plans to expand its library by licensing more third-party content. ## **Netflix Cuts Advertising Forecast as Revenue Growth Slows** Netflix reported third-quarter revenue of $12.874 billion, up 12% year over year, while earnings per share reached 87 cents, beating analysts’ average estimate of 82 cents. However, the company forecast fourth-quarter earnings per share of 67 cents, below analysts’ 73-cent estimate. **Price Action:** Netflix shares closed at $68.69 on Tuesday and fell 5.69% to $64.78 in Wednesday’s premarket trading, according to Benzinga Pro. According to **Benzinga Edge Stock Rankings**, Netflix has a negative price trend across the short, medium and long term, while its Quality score ranks in the 88th percentile. ***Disclaimer*:** *This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.* **See More: Top Quality Stocks** *Photo courtesy: Shutterstock* ### Related Stocks - [NFLX.US](https://longbridge.com/en/quote/NFLX.US.md) - [NFLP.US](https://longbridge.com/en/quote/NFLP.US.md) - [NFLU.US](https://longbridge.com/en/quote/NFLU.US.md) - [NFLW.US](https://longbridge.com/en/quote/NFLW.US.md) - [NFLY.US](https://longbridge.com/en/quote/NFLY.US.md) - [NFX.US](https://longbridge.com/en/quote/NFX.US.md) - [NFXL.US](https://longbridge.com/en/quote/NFXL.US.md) - [NFXS.US](https://longbridge.com/en/quote/NFXS.US.md) - [DIS.US](https://longbridge.com/en/quote/DIS.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) ## Related News & Research - [Netflix in charts: Q3 regional revenue holds double-digit growth, but pace cools](https://longbridge.com/en/news/302501917.md) - [With layoffs and a firing, Netflix hurries to rewrite its narrative](https://longbridge.com/en/news/302229714.md) - [Netflix stock drops. Why Wall Street is still worried after earnings beat.](https://longbridge.com/en/news/302540198.md) - [Netflix's weak outlook puts ETFs with heavy exposure under pressure](https://longbridge.com/en/news/302536852.md) - [Netflix Stock Sinks To 52-Week Low - Here's Why](https://longbridge.com/en/news/302563831.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**