- Stock dropped over 2.2% following Elon Musk’s call to “Cancel Netflix.”
- Elon Musk urged his 200 million followers on X to unsubscribe from Netflix.
- Musk criticized Netflix for hiring staff who allegedly celebrated violence online.
Netflix stock has taken another hit after billionaire entrepreneur Elon Musk urged his more than 200 million followers to “Cancel Netflix”, a call to terminate their subscriptions.
Musk, writing on X on Wednesday, called on users to “Cancel Netflix,” sparking an online campaign against the streaming giant. The move came after criticism of the company’s programming and hiring policies, with the stock dropping over 2.2% on Thursday to close at 1,166.49.
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The controversy began when Musk reshared posts from the right wing account Libs of TikTok, which accused Netflix of pushing a “woke agenda” and hiring staff who allegedly celebrated violent acts.
Musk’s comments quickly gained traction among his supporters, many of whom confirmed they had unsubscribed and posted screenshots as proof.
According to Forbes, Netflix had previously reported an increase in non-white directors and lead actors across its content, which Musk and his supporters linked to what they described as political bias.
He further criticized the streamer for producing shows that, in his words, promote “pro-transgender content on children.”
In one exchange, Musk responded to screenshots of a since cancelled animated show, Dead End: Paranormal Park, after its director reportedly made offensive remarks online. “This is not ok,” Musk wrote, later calling on followers to cancel Netflix “for the health of your kids.”
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The campaign quickly spread among conservative circles online, leading to fresh scrutiny of Netflix’s content strategy and diversity policies.
The streaming company has not issued an official response to Musk’s remarks, but the online debate has intensified pressure on its brand image.
