Netflix’s plot to become cable hits a wall

Earnings are up, but engagement is slowing down. What comes next could get messy.

Jared Newman   |   July 15, 2026

Things aren’t going so smoothly for Netflix right now.

While the streamer is making more money and has more subscribers than ever, daily viewing hours are in decline according to Nielsen data, and its hit shows are struggling to retain audiences beyond the first season, Bloomberg reports. Engagement levels have become a frequent discussion topic among Netflix executives according to the Wall Street Journal, and investors are starting to worry.

Hold up!

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