Netflix Names Ted Sarandos Co-CEO Amid Second Shutdown-Driven Subscriber Spike

Streamer added 10 million subscribers in second quarter, bringing global total to 193 million

a man smiling in a blue suit
“This change makes formal what was already informal—that Ted and I share the leadership of Netflix," said Reed Hastings of his new co-CEO. Getty Images

Netflix has promoted longtime chief content officer Ted Sarandos to the co-CEO position, the company said today after reporting a second straight quarter of higher-than-usual global subscriber gains driven by the ongoing Covid-19 pandemic.

@kelseymsutton Kelsey Sutton is the streaming editor at Adweek, where she covers the business of streaming television.