Netflix Admits Quality Problems, but Will They Drop the Agenda?

Netflix is facing a test that Hollywood can’t solve with another lecture: Give viewers something worth watching. The streaming company reported Tuesday that its growth had slowed for the fourth straight quarter. Sales are still rising, but the pace disappointed Wall Street. Shares fell seven percent to a two-year low of $66.00, nearly 50 percent below last summer’s level. “Netflix delivered sales of $12.9 billion in the third quarter, in line with Wall Street’s expectations, and forecast sales of $13.4 billion in the year’s final three months, falling short of what analysts have predicted,” reports Bloomberg. “The pace of growth has fallen from 17.6% in the final quarter of last year to a projection of 11.5% for this year’s fourth quarter.” The advertising business is expected to bring in $300 million less than Netflix had planned, according to the report. But the company’s response suggests its leaders see a problem beyond ad sales. “Over the past week, Peters and co-CEO Ted Sarandos have overhauled the company’s leadership to address what they see as a decline in programming quality.” Netflix can’t fix its programming if its executives won’t acknowledge that something has gone wr...