NFLX · News · 20260922N

Competition and Market Share

NETFLIX INC · 2026-09-22 · Importance 35 · Surprise 48

YouTube’s share of U.S. television viewing reached a record 14.2% in July, while Netflix’s share declined to a multi-year low of 7.8%. HSBC cited YouTube’s expanding living-room presence and downgraded Netflix to Hold from Buy, while Wells Fargo flagged engagement risk. Wells Fargo also projected a 21% year-over-year decline in Netflix’s top 100 original content hours during the second half of 2026, indicating potential pressure on viewing engagement and competitive positioning.

Key facts

• HSBC analyst Mohammed Khallouf reduced his price target for Netflix by 21%.
• HSBC downgraded Netflix (NFLX) to 'Hold' from 'Buy' and lowered its price target, citing YouTube's increasing viewer share, which hit a record 14.2% of U.S. TV time in July while Netflix fell to a multi-year low of 7.8%. source
• Netflix stock NFLX fell 2% on Tuesday after HSBC downgraded the streaming company, citing growing competition from Alphabet's YouTube and concerns about near-term viewer engagement; HSBC lowered its rating on Netflix to Hold from Buy and cut its price target to $76 from $96. source
• Netflix Inc. (NASDAQ:NFLX) stock traded higher Tuesday in premarket trading. source