Sarandos revealed that Netflix's viewership expanded by a modest 2 percent during the first half of 2026, a figure that, while positive, falls short of internal aspirations. "Overall, we’re not growing as fast as I want us to, and we’re working on making that move faster," he stated, signaling a clear intent to invigorate subscriber engagement and acquisition.

One of the key areas Netflix is exploring to catalyze growth is live programming, including high-profile sports broadcasts like NFL games. Currently, live content accounts for approximately 5 percent of Netflix's substantial $20 billion annual content investment, yet it generates only about 1 percent of total viewership. Despite this seemingly low direct return on investment, Sarandos emphasized its indirect benefits. Live events are proving to be powerful drivers for new sign-ups, effectively reducing subscriber churn, and are highly attractive to advertisers.

Addressing the evolving competitive landscape, Sarandos touched upon the looming $111 billion merger between Paramount Skydance and Warner Bros. Discovery. While acknowledging the potential for a new market behemoth, he expressed a degree of skepticism regarding its immediate impact on market share. "It looks on paper— so far it’s one and one," he mused, questioning whether such a combination truly equates to a proportional increase in streaming power or something less straightforward. "So I don’t know if one and one is two, or one and one is one and a half, or one and one is three."

Sarandos also reflected on Netflix's temporary winning bid for Warner Bros. before the company was acquired by David Ellison. He maintained no regrets, asserting that Netflix had priced its offer correctly for its scale, ensuring value for shareholders without overextending. "I think the plan was solid," he affirmed, confident in their assessment at the time.

Looking ahead, Netflix appears to be taking cues from platforms like YouTube, particularly in its engagement with creators. However, Sarandos drew a clear distinction between this strategy and a full embrace of user-generated content (UGC). "We’re definitely… not in the UGC [user-generated content] business," he clarified. "We’re in the professionally produced content business." He explained that Netflix is interested in collaborating with creators who are already producing high-quality, professional-level programming, offering them enhanced monetization opportunities through Netflix's diverse revenue streams, a significant advantage over YouTube's largely ad-funded model.

Despite exploring new avenues, Sarandos firmly ruled out the introduction of a completely free, ad-supported tier (FAST) in the near future. He argued that such a move would risk "cannibalizing the core product," underscoring Netflix's commitment to its current subscription and ad-supported premium models. While growth targets remain ambitious, Sarandos concluded with a reassuring note, reiterating that "The business is great and growing fine," even as the company actively seeks to accelerate its pace in a dynamic industry.