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Netflix falls 5% on growth doubts
Netflix's shares dropped by approximately 5% after issuing subdued profit and advertising forecasts, reflecting a slowdown in viewership and revenue growth due to intense competition in the streaming market. Despite a 11.8% increase in revenue in the third quarter to $12.87 billion, the growth rate has slowed over the past three years. The company has also trimmed its advertising revenue projections for 2026 to around $2.7 billion. Netflix faces challenges from platforms like YouTube and TikTok, which specialize in short-form content, as well as losing competitors in acquisitions and damaging its paid subscription model, amid shifting audience preferences toward free content and short clips. As a result, the company is expected to suffer a decline in market value of approximately $13.4 billion if current challenges persist.
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