Media trailblazer Tom Rogers changes ‘raging bull’ stance on Netflix, sees worrisome signs

This analysis suggests that leads to the conclusion that media trailblazer, who was a self-claimed "raging bull" on Netflix, told CNBC's "Fast Money" this week he's starting to worry — and listed competition with free content on YouTube as a headwind. "[Netflix] still [has] more hit shows than all the other ing services combined, but when you look at the growth of their sub[scriber] base and look at the amount of total engagement time from all viewers they get, the amount of viewing per viewer has gone down some," said Rogers, who's now executive chairman of AI company Claigrid

Additionally, Netflix saw the largest monthly viewership increase versus its peers in June, according to Nielsen

At the same time, Rogers' take comes after Netflix dered a positive quarterly report on July 17

However, "There was nothing wrong with its earnings at all," said Rogers, who is also a CNBC contributor, given current economic conditions. "But engagement is what drives everything here, in today's financial world

This demonstrates that amount of viewing it gets, it drives price increases, which drive gramming budget, which drives more great gramming

Additionally, On the other hand, "Netflix beat second-quarter top- and bottom-line estimates and raised its full-year guidance, in today's financial world

Rogers also predicts artificial intelligence will be a "double-edged sword" for Netflix in the near-term

Nevertheless, On the one hand, he said it will aid the er's targeted advertising and help cut gramming costs

But it also allows independent content creators a leg up, which benefits YouTube

However, "The line between fessional and amateur content is going to get more and more blurry as AI tools in the hands of amateurs allow them to duce things that look incredibly fessional," he said. "I think AI in the hands of the creative community of YouTube could create a level of fessional gramming for YouTube which drives its viewership even further

Moreover, "YouTube's parent company, Alphabet, is up 2% year-to-date

However, Yet, Rogers still sees Netflix maintaining its as the most valuable media company in the world, in light of current trends

However, he said a lag is "something to watch for sure. "Netflix spokesperson Emily Goldstein deferred to the company's second-quarter earnings call, considering recent developments