Former NBC Cable President Tom Rogers dials his bullishness on Netflix.
Media Trailblazer, who was Netflix’s self-proclaimed “Raging Bull,” is beginning to worry about CNBC’s “Fast Money” this week.
“[Netflix] still [has] There are more hit shows than all other streaming services combined, but looking at their sub growth[scriber] “We are pleased to announce that we are committed to providing a wide range of services,” said Rogers, executive chairman of AI company Claigrid.
Netflix saw its biggest monthly viewer increase towards colleagues in June, according to Nielsen. However, YouTube accounted for 13% of monthly TV viewership ratings, while Netflix was 8%.
Rogers’ latest take comes after Netflix released a positive quarterly report on July 17th.
“We had no problems with revenue,” said Rogers, who is also a contributor to CNBC. “But engagement is what drives everything here: it gives you a viewing volume, it drives the price increase, it drives programming budgets, and it drives better programming.”
Netflix broke its second-quarter top-line and bottom-line estimates and raised year-round guidance. However, since its earnings report, streamer’s stock has fallen by about 6%, falling nearly 11% since reaching a record high on June 30th.
Rogers also predicts that artificial intelligence will become a short-term Netflix “double-edged sword.” Meanwhile, he said it will help streamers with targeted advertising and reduce programming costs. But it also allows independent content creators to lift their legs. This will benefit YouTube.
“The line between professional and amateur content will become increasingly blurry as AI tools in the hands of amateurs can produce something incredibly professional,” he said. “I think AI in the hands of the YouTube creative community can create a level of professional programming for YouTube.
YouTube’s parent company, Alphabet, has seen a 2% increase since the start of the year.
However, Rogers still sees Netflix as maintaining its position as the world’s most valuable media company. However, he said the delay was “certainly something to see.”
Netflix spokesman Emily Goldstein has postponed comments on the company’s second quarter revenue call.
