How does this pair with Netflix's announcement that they're slowing down their streaming in the EU?
Something I've thought about is that Netflix gets paid a single subscription fee, and in return they have to provide unlimited video streaming for a month. There is no incentive to keep you watching other to make sure you stay interested enough in subscribing again for the next month.
Youtube, on the other hand, gets paid for every video you watch through advertisements. There's no limit on how much profit that can be made from a user in a given month, and so there is a heavy incentive to get you to watch as much content as possible, as there's no cap on the maximum profit possible.