Netflix faces decline before results

Netflix faced a decline in user engagement ahead of its third-quarter results announcement, with subscription cancellations rising by 16.6% in the United States and downloads decreasing by 20%. Additionally, the average monthly watch time per subscriber fell to 49 hours from 66 hours at the start of the year, amid signs of slowing growth and signals of a shift in the streaming industry toward profitability. The company expects revenue growth in the third quarter to reach approximately 11.8%, totaling $12.87 billion, as it focuses on enhancing sports content and diversifying revenue streams through advertising, striving to strike a balance between competition and growth.

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