Hollywood in Crisis: YouTube Steals Netflix’s Viewers

YouTube is challenging Hollywood: creators are producing blockbuster-style shows and stealing audiences from Netflix. According to Nielsen, in August YouTube accounted for 13.1% of total TV viewing time compared to Netflix’s 8.7%.

Source Financial Times

The Google-owned platform generated $55bn in annual revenue and is forging partnerships with brands like Red Bull, even hosting its own Hollywood-style premieres. At the same time, YouTube is pushing interactive features and “dynamic previews” to make its content more series-like.

Netflix, meanwhile, is fighting back with sports deals, including NFL streaming rights. But competition between the two giants is intensifying, raising fears among traditional studios that YouTube could cement its dominance in entertainment.