Netflix downgraded to hold over weakening original content engagement
HSBC says Netflix’s original-content reception has weakened, downgrading the stock to hold. Total viewership hours for series charting on Netflix’s top 10 lists fell 17% year over year in July and August, and third-quarter figures are tracking for a sequential decline, per analysts cited by TradingView News.
HSBC analysts downgraded Netflix to hold, citing a weaker reception to the company’s original content. They said total viewership hours for series that appeared on Netflix’s top 10 lists in July and August were down 17% year over year, with third-quarter numbers on track for a sequential decline.