Ted Sarandos on the Hot Seat? Netflix’s Identity Crisis

Netflix's profitable quarter was punished by Wall Street over stalled engagement, raising doubts that a content-chief swap under Ted Sarandos fixes the real problem.

• Netflix earnings miss despite growth: Revenue up ~12.5%, operating margin 34%, but stock fell from $124 (Oct 21) to ~$65 as Street fixates on stalled engagement and missed ad-sales targets.
• Leadership shakeup questioned: Netflix laid off ~1,000 staff and ousted Bela Bajaria and Dan Lin, hiring movie veteran Peter Rice; hosts note co-CEO Ted Sarandos, who set content strategy for years, wasn't touched.

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