Greg Peters, Netflix’s co-CEO, spoke candidly about the company’s recent trajectory during his interview. Since he took the co-CEO role in 2023, Netflix’s stock has fluctuated significantly; it peaked last summer but has since dropped 37%. The company’s decision to stop reporting membership numbers has led to more uncertainty in how Wall Street views its performance. Peters acknowledged that this shift could be seen as a self-inflicted wound, but he emphasized that Netflix is focused on evolving its business model, which now includes various membership tiers and advertising revenue. Engagement metrics are now a focal point for Netflix, reflecting a broader trend in the streaming industry. Peters pointed out that Netflix’s revenue per viewing hour is currently the lowest among competitors, suggesting there’s room for price increases. However, he also noted concerns about stagnant engagement growth, which could limit pricing power. He discussed the varying types of engagement, arguing that not all viewing hours hold equal value. While Netflix has traditionally catered to broad, low-value engagement, Peters believes the company can advance its understanding of viewer preferences to manage its business more effectively.