India, Oct. 15 -- 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. This is the company's biggest round of job cuts since 2022. Yahoo Finance reported that the cuts come as Netflix deals with a declining audience share and a falling stock price....