Netflix Nightmare: Stock Craters, 200K Subscribers Loss, Predicts Losing 2 Million More This Year

OPINION | This article contains opinion that reflects the author's views.
🚨 Are we doing a good job? | Send A Tip

Netflix was recently accused of suffering from a “woke mind virus” that is destroying the company, according to the world’s richest person Elon Musk.

If the stock price is any indicator, Musk is right. Shares of Netflix dropped by 20% as the company reported losing 200,000 subscribers during the first quarter of the year in 2022.

Making matters even worse, the company expects to lose another 2 million subscribers in the second quarter, according to StreetAccount estimates. Between October 19, 2021 and April 19, 2022, the stock value dropped 67 percent.

Netflix shares are down a staggering 55 percent this year.

Adding to its troubles, Netflix is now facing a shareholder lawsuit. The company is accused of misleading investors about the problems.

Netflix has backed a number of far-left films, such as a show about the life of Colin Kaepernick. The failed NFL quarterback, who was cut and shamefully sued the league, became notorious for claiming the NFL bears a resemblance to slavery and proceeded to kneel during the National Anthem.

Variety reports that Netflix has canceled a number of programs, including a cartoon called “Antiracist Baby” aimed at preschoolers. The company has also canceled “Wings of Fire” and “With Kind Regards From Kindergarten.”

Netflix has reportedly canceled “Stamped: Racism, Antiracism and You,” a documentary about race in the United States. The streaming service has canceled a series created by British duchess Meghan Markle. The series called “Pearl” is based on Markle’s own life and starts with a 12-year-old girl who inspired by various historical women.

Piers Morgan says the “world is fast waking up to the cold, hard reality that they [Prince Harry and Meghan Markle] have nothing to say.” British royal family members Prince Harry and Meghan Markle are facing major backlash for lecturing the American public on the “woke” issues of disinformation and sustainable energy while they use private jets and live in a lavish $11 million mansion in California.

Harry and Meghan have attempted to partner on projects with both Netflix and Spotify, but they are “so simperingly bad” and “vomit-inducing” that these business efforts have been a complete failure.

Elon Musk responded with 8 simple words: “The woke mind virus is making Netflix unwatchable.” Just weeks later, Netflix released a statement to its employees: “Be prepared to work on content you may not agree with. And if you don’t like that, you can quit.”

— Advertisement —

Tom Fitton of Judicial Watch notes that “Elon Musk seems to be having an impact beyond Twitter.”

“Good move by Netflix,” Musk said. Take a look:

More on this story via Breitbart:

Netflix, which still has a production deal with Barack and Michelle Obama, said it lost 200,000 subscribers for the first quarter of the year — a huge miss for the company, which had expected to add 2.5 million subscribers.

Even more troublesome, leaders are forecasting Netflix will lose a whopping 2 million more subscribers this spring — potentially the largest quarterly loss of customers in its history.

The guidance paints a bleak financial outlook for Netflix, whose main revenue stream is paying customers.

In a letter to investors, Netflix blamed password sharing and increased competition from other streamers including Disney+ and Amazon Prime Video for what it euphemistically called “revenue growth headwinds.”

🙏 Donate to Support Us | Big tech is trying to silence us. Help us fight back! Thank you for your support! 🇺🇸