Media Industry Veterans: Netflix May Add Live TV as Top Shows Reportedly Lose 30-70% of Viewers

Thomas RichmondFri, July 10, 2026 at 3:39 PM UTC

0

Ernesto S. Ruscio / Getty ImagesQuick Read -

NFLX shares have fallen 41% over the past year while top shows bleed up to 70% of viewers between seasons, signaling a content problem distribution cannot fix.

Canelo vs. Crawford drew 41 million Netflix viewers, but competing against ESPN and Amazon for third-party live rights is a far costlier, riskier strategy.

This lithium producer surpassed a $1B private valuation, joining some of America’s most powerful startups. Now you can invest in EnergyX alongside global giants like General Motors, but only through July 16. (sponsor)

Netflix may be preparing to make its biggest strategic departure from traditional streaming yet. A July 10 CNBC Executive Edge segment zeroed in on a Wall Street Journal report that Netflix (NASDAQ:NFLX) is exploring a deeper push into live television and third-party streaming distribution that could eventually allow subscribers to purchase competing services through its platform.

The strategy could increase the amount of time subscribers spend inside Netflix, but it would also move the company beyond the controlled live events that have defined its approach so far. The CNBC hosts framed the move as a possible solution to weak engagement but questioned whether changing distribution would fix the underlying problem of the shows themselves.

“It’s Always About Content” (Netflix May Have a Content Problem)

Summarizing the WSJ article, one host said: "Netflix is looking to get into live TV... exploring adding live streaming channels to its service, or potentially allowing subscribers to use its platform to buy access to other streaming services like NBCUniversal's Peacock." The panel noted that "Netflix recently partnered with France's TF1 to allow users in that country to watch some live content, including news. Other similar overseas deals could be a next step."

July 16 is the Final Day to Tap Into the Lithium Boom (sponsor)General Motors, POSCO, and 50,000+ everyday investors have already backed lithium producer EnergyX.

Here’s why you should do the same before their July 16 investment deadline: lithium prices are up 75% this year, with demand projected to grow a staggering 5X by 2040.

With tech that can recover up to 3X more lithium than traditional methods, EnergyX is preparing to unlock up to 15M+ tons. Become a private-stage EnergyX investor before the July 16 deadline.

The hosts contrasted that with Netflix's earlier posture: "Netflix has been applauded for having a live TV strategy that was unscripted but were events that they created. They weren't bidding against other parties for the rights... They would stage fights... things that were under their control." Bidding for third-party live rights, in the hosts' view, is a different game than staging your own events.

The hosts felt like Netflix might have underlying issues to address with its content: "I've been complaining about what's on Netflix... there's a lot of stuff I'm not engaged with. And I've tried to watch a dozen of their dramas... It's always about content," one host said, adding, "The content is king and it's really hard to do. And Netflix, for me, I find myself on Paramount a lot more." This is obviously one person's perspective, but it's worth keeping in mind the big role that content plays in Netflix's business.

Top Netflix Shows Are Reportedly Losing 30-70% of Viewers

The hosts flagged that Netflix executives are concerned about engagement metrics measuring how long users watch particular programs. A widely discussed r/wallstreetbets thread this week, with 14,936 upvotes and 4,572 comments, cited reporting that Netflix's top shows have been losing 30-70% of their audience between seasons 1 and 2, with executives trying to diagnose why.

Advertisement

Adding live channels or reselling Peacock could lift session time, but it will not repair the underlying retention issue.

Netflix’s Business Is Growing Even as Its Stock Slides

Netflix's market cap sits at roughly $317.8 billion, with shares closing around $75.47 on July 9, 2026. The stock is down about 41%over the past year and roughly 20% year to date.

The business, meanwhile, has kept growing. Q1 2026 revenue came in at $12.3 billion, up 16% year over year, with a 32.3% operating margin. Netflix reaffirmed full-year 2026 revenue guidance of $50.7 billion to $51.7 billion and raised free cash flow guidance to roughly $12.5 billion, aided by an after-tax termination fee from the abandoned Warner Bros. Discovery deal. Netflix's Q2 results are expected on July 16.

Can Live TV Fix Netflix, or Is It a Costly Retreat?

Netflix has already proved that controlled live programming can attract enormous audiences. The World Baseball Classic became its most-watched program ever in Japan, while the Canelo-Crawford fight drew more than 41 million viewers. But always-on channels, third-party streaming bundles, and multibillion-dollar sports rights would represent a fundamentally different strategy.

If live television and third-party distribution deepen daily engagement, Netflix could become an even more powerful entertainment platform. If viewers are leaving because its scripted originals are not holding their attention, however, expensive rights and rival-service bundles may treat the symptom without solving the problem. Investors will get an insight into management's strategy on July 16 when management reports Q2 earnings.

Meet America's Newest $1b Unicorn (Sponsor)

A US startup just passed a $1 billion private valuation, joining billion-dollar private companies like OpenAI and ByteDance. Unlike those other unicorns, you can invest in EnergyX right now; but only until July 16.

Over 50,000 people already have, along with global giants like General Motors and POSCO.

Here’s why there’s so much interest: EnergyX’s patented tech can recover up to 3X more lithium than traditional methods. That’s a big deal, as demand for lithium is expected to 5X current production levels by 2040.Become an early-stage EnergyX shareholder before the 7/16 investment deadline.

Contact editorial@247wallst.com for any questions or corrections.

Original Article on Source

Source: “AOL Entertainment”