Elon Musk’s Call to “Cancel Netflix” Reportedly Triggers $20 Billion Loss For the Platform

Netflix is reportedly facing a massive hit after losing around $20 billion in value, following a wave of user cancellations. The sudden drop came after Elon Musk urged his followers on X to boycott the streaming platform.

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Musk has criticized Netflix for what he sees as “woke” content, especially shows aimed at younger audiences. Conservatives have also expressed concerns that the platform’s content could be inappropriate for children.

According to reports, Musk’s comments intensified the backlash, accelerating the loss of subscribers and causing the large financial hit.

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One of the sparks for Musk’s protest was the animated series Dead End: Paranormal Park, which features a transgender character for young viewers. Musk wrote, “This is not ok.” He also highlighted scenes from The Baby-Sitters Club, where a child corrects a nurse for misgendering another child, which he and supporters criticized.

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Political commentator Gunther Eagleman added his support, posting “Cancel Netflix” on X, a message that Musk reshared. Others joining the boycott also criticized the creator of a show, Hamish Steele, for controversial remarks about the assassination of Charlie Kirk.

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This situation shows the growing influence of public figures on streaming platforms and subscriber behavior. Netflix now faces both financial and reputational challenges as it navigates these criticisms.