By Atoyebi Nike
Netflix shares dropped 2.34% on Wednesday after billionaire Elon Musk urged subscribers to cancel their accounts, reigniting debate over the platform’s content policies and diversity strategy.
Musk, who runs Tesla, SpaceX, and social media platform X, posted multiple messages saying “Cancel Netflix” and claimed doing so was “for the health of your kids.” He said he had also ended his own subscription.
The controversy followed backlash against Dead End: Paranormal Park, an animated series featuring LGBTQ characters. Its creator, Hamish Steele, came under fire after referring to conservative activist Charlie Kirk, who was shot dead in September, as a “nazi” in a Bluesky post. Steele denied mocking Kirk’s death but faced criticism online, with some users canceling their Netflix subscriptions. Musk amplified the calls, adding his endorsement.
Musk also criticized Netflix’s latest diversity report, responding to claims of “discrimination against White people” with the phrase “Cancel Netflix.”
The stock decline underscored how online cultural debates can quickly influence financial markets, especially when amplified by high-profile figures. Netflix, already facing slowing subscriber growth amid stiff competition from Disney+, Amazon Prime Video, and Apple TV+, has yet to issue a formal response.
