Netflix Co-CEO Ted Sarandos addressed EU policymakers in Brussels ahead of a review of streaming regulations. He identified YouTube as a primary and direct competitor for television viewing time.
Sarandos argued that regulators underestimate YouTube by viewing it as a social media platform for short clips. He stated the service has become a significant force on television screens rather than just a source for cat videos.
Approximately 55% of all YouTube engagement now occurs on televisions. Sarandos emphasized the need for a level regulatory playing field to reflect this shift in viewer attention.
Europe currently represents the largest market for Netflix. The company has invested more than $13 billion in European content over the past decade.