In a fresh wave of online fervor, Elon Musk has once again urged his millions of followers to ditch Netflix subscriptions, citing concerns over the streaming giant's content. This comes amid a brewing controversy involving an animated show and remarks from its creator that have ignited backlash. Musk reposted a tweet accusing Netflix of promoting a "transgender woke agenda," adding fuel to calls for boycotts that are now rippling through social media and Wall Street alike.
The impact was swift and sharp. Netflix shares, trading under the ticker NFLX, tumbled 2.3% on Wednesday following Musk's initial post, and by Thursday, the stock had dipped another 1.5% in premarket trading, leaving it down a cumulative 2.4% since the tech mogul's intervention. Investors, already jittery from broader market shifts, watched as the company's market value took a hit—losing roughly $10 billion in capitalization over those two days. However, it's not just numbers; reports suggest a spike in cancellation inquiries, though Netflix has yet to release official subscriber data for the quarter.
Moreover, the uproar ties back to a specific Netflix original where the show's creator made inflammatory comments about conservative figure Charlie Kirk, sparking demands for the series' removal and broader service cancellations. Critics argue this reflects deeper cultural divides, with Musk positioning himself as a defender of family values. Netflix, for its part, has remained tight-lipped, focusing instead on upcoming releases to steady the ship. Indeed, the platform's executives have long emphasized creative freedom, but such clashes test that resolve.
However, not everyone sees this as a death knell. Analysts point out Netflix's robust growth trajectory, with global subscribers topping 280 million as of last quarter, and a content slate that continues to draw viewers despite the noise. Still, repeated boycotts from high-profile voices like Musk could erode that momentum if they gain real traction. The question lingers: will this latest storm pass, or mark a turning point in how streaming wars play out in polarized times?