Netflix (NFLX) is down more than 25% this year as it removes its chief content officer and appoints Peter Rice, formerly of Fox and Disney. Panelists argued media is a harder business than chips, since viewers rarely rewatch a hit and studios must constantly reinvent what audiences want. They cited Taylor Sheridan as a rare success at repeating a formula that works, and one recalled skepticism about Netflix's $8 billion annual content spending a decade ago, given how short-lived content can be.
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