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Netflix Loses Billions After Elon Musk Urges Followers to Cancel Subscriptions
In early October 2025, a social media storm triggered by Tesla and SpaceX CEO Elon Musk sent shockwaves through Wall Street and the entertainment industry, wiping billions off Netflix’s market value as calls to cancel the streaming service went viral.
Over the span of just a few days in late September and early October, Musk used his vast platform — with more than 220 million followers on X — to amplify a campaign urging parents and subscribers to ditch Netflix “for the health of your kids.” The comments came amid a culture-war backlash over Netflix’s programming, especially children’s shows that critics said featured what they described as “woke” or “transgender agenda” content.
What Sparked the Boycott Call
The controversy began when a clip from the animated series Dead End: Paranormal Park (a Netflix kids’ show that included a transgender character) was shared online and criticised by conservative social-media accounts. Musk reposted these posts, adding his own strong language and urging followers to cancel their Netflix memberships.
In one widely circulated message, he wrote:
“Cancel Netflix for the health of your kids.”
This was followed by a flurry of reposts, comments, and further calls to action from Musk and some of his followers, which turned the issue into a trending boycott social media theme.
The Financial Impact
Investors responded quickly to the online controversy. Over the course of several trading sessions, Netflix’s stock fell sharply, dragging its market value down by approximately $25 billion amid the sell-off.
Analysts said the sell-off was partly triggered by Musk’s influence amplifying broader concerns about content direction and subscriber trends — though they cautioned that Netflix’s fundamentals remained strong.
The company’s share price dropped around 5 % during the week following Musk’s posts — its biggest weekly fall in months — and although Netflix remains one of the world’s most valuable media companies, the short-term loss underscored how quickly social media campaigns can ripple through markets.
What Netflix Says (and Doesn’t Say)
Netflix has not publicly responded to Musk’s boycott campaign. Since the company stopped reporting subscriber count routinely, the direct effect on subscriber numbers is unclear.
Despite the market dip, Netflix continues to invest in new content and expansion efforts, and many analysts stress that a brief social-media-driven boycott is unlikely to affect its long-term trajectory if overall viewer demand remains strong.
A Broader Cultural Moment
The incident illustrates how influential figures can shape public discourse — and market outcomes — with a single message on social media. Musk’s involvement turned what might have been a minor online disagreement into a global talking point, with news outlets and investors alike weighing in on both the cultural and financial consequences.
As digital platforms continue to play an outsized role in shaping public perception, companies like Netflix may face intensified scrutiny over programming choices, while investors remain sensitive to sentiment-driven volatility.
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