Netflix’s shares tanked 42% over the last 12 months after hitting an all-time high last summer. Last week, the streaming service cut about 1,000 employees, or roughly 6% of its workforce, the company’s biggest round of layoffs in four years.
Netflix remains profitable and has more than 325 million global subscribers. It’s still the most popular platform for on-demand film and television, but Amazon Prime Video may be closing the gap.
Here & Now‘s Scott Tong speaks with Puck’s Matt Belloni about why Netflix is floundering.
This article was originally published on WBUR.org.
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