Netflix Slowdown Has Multiple Factors, Co-CEO Says

Netflix Inc.’s co-chief executive officer is blaming a recent slowdown at the streaming service on multiple factors including inflation’s impact on household budgets, a decline in smart TV sales due to supply chain constraints, and its departure from Russia.

“Every customer is asking the question of the value of a subscription in relation to its cost,” Ted Sarandos said in an interview with French newspaper Le JDD on Sunday. Netflix’s vision to “satisfy the consumer” remains intact, he added, citing the popularity of the new season of “Stranger Things.”