Hours after Netflix lost over two lakh subscribers in 100 days—which is the first time in 10 years, Tesla and SpaceX CEO Elon Musk said that the woke content produced on Netflix is making it unwatchable.
Slashdot, a news outlet, has put out the Netflix numbers in a tweet saying, “Netflix shares crater 20 per cent after company reports it lost subscribers for the first time in more than 10 years.” Replying to the tweet, Musk said, “The woke mind virus is making Netflix unwatchable.”
The OTT platform witnessed a drop in its profit by 35 per cent for the January to March quarter, with as much as $54 billion of its market valuation wiped out in the quarter under review. Following Netflix’s quarterly results, its shares plunged as much as 62 per cent closing at $226.19.
Over the past few years, the OTT platform has been under fire for producing content that exceeds the cautionary limits. For example, in 2020, the OTT platform made headlines after one of its movies Cuties was accused of promoting pedophilia.
Netflix currently has a subscriber base of 221.6 million, which is lower than the December quarter. In a letter, the OTT platform said, “We are not growing revenue as fast as we would like.”