Netflix co-founder Reed Hastings steps down

Hastings, who transformed the company from a mail-order DVD service into a global streaming giant over 29 years, is leaving at a pivotal moment.

Investors are increasingly concerned about the pioneer's next growth driver following a failed merger attempt with Warner Bros.

Discovery earlier this year.

To combat slowing sales, Netflix is planning to launch a vertical video feed and use AI more broadly for content recommendations.

The company is also pivoting toward gaming and live sports, including its first Super Bowl broadcast in two decades.