Elon Musk Urges Followers to Cancel Netflix—Here’s Why
In a recent social media post, Elon Musk urged his followers to cancel their Netflix subscriptions. This call came after controversy surrounding the animated series “Dead End: Paranormal Park,” which features a transgender character. Musk’s message highlighted concerns over what he called a “transgender woke agenda” promoted by Netflix.
Background on the Controversy
The uproar began when Musk shared an image on his X platform, urging families to reconsider their Netflix subscriptions for the benefit of children. The animated show, “Dead End: Paranormal Park,” lasted two seasons before its cancellation in 2023.
Musk’s statements were in reaction to comments by Hamish Steele, the show’s creator, which a conservative account deemed mocking toward Charlie Kirk, a conservative activist. Steele later addressed Musk’s comments on Bluesky, stating it was going to be “a very odd day.” He also defended the show by sharing praise from TV writer Jack Bernhardt, who referred to it as a “brilliant show about kind, wonderful characters.”
Market Impact and Company Statistics
Despite Musk’s call for a boycott, industry analysts suggest the impact on Netflix might be minimal. As of the fourth quarter of 2024, Netflix reported approximately 301.63 million subscribers. The company is valued at around $490 billion and has seen its stock rise by over 60% in the last year, despite a 4% dip in shares this week.
- Subscribers: 301.63 million (Q4 2024)
- Market Capitalization: ~$490 billion
- Stock Increase: >60% in the past year
- Recent Stock Decline: 4% this week
Experts like Guy Adami from CNBC’s “Fast Money” believe Musk’s influence may not significantly affect Netflix’s stock performance. He mentioned that potential subscribers might even counter the backlash by signing up. Tim Seymour of Seymour Asset Management added that while the backlash may cause temporary headlines, it is unlikely to pressure Netflix’s stock in a substantial way. Previous incidents, such as the public response to Anheuser-Busch’s marketing choices, were noted as not having similar long-term consequences for Netflix.
Comparisons to Other Boycotts
The calls for a boycott against Netflix echo the backlash faced by Anheuser-Busch InBev in 2023. Following the release of an ad campaign featuring transgender influencer Dylan Mulvaney, the reaction led to significant declines in Bud Light sales. Karen Finerman, another CNBC contributor, stated that while those boycotts caused considerable damage, the Netflix situation is expected to be much less impactful.
Overall, as the dialogue continues around content and representation in media, the debate reflects larger cultural themes, challenging companies like Netflix to navigate complex issues with their programming choices.
