Netflix US TV viewership falls to 7.8% as YouTube tops 14% amid rising competition

Netflix is losing its share of US TV viewership. The streaming platform accounted for 7.8% of all television viewing time in the US this year, down from 8.8% a year ago. Meanwhile, YouTube’s share increased from 13.4% to more than 14%. These figures show that Americans are spending a smaller share of their TV-watching time on Netflix and more time watching YouTube, according to Nielsen data.

Netflix is also facing pressure to reduce costs. On Wednesday, Netflix announced plans to cut around 6% of its workforce, affecting roughly 1,000 employees.