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Musk’s ‘Cancel Netflix’ Push Weighs on Shares After Trans Character Clip Resurfaces

The campaign tied to resurfaced clips from a canceled kids’ series with a trans protagonist coincided with a multiday share slide that analysts say erased about $15 billion in market value.

Overview

  • Elon Musk said he canceled his Netflix subscription and urged followers on X to do the same, boosting the #CancelNetflix campaign.
  • Conservative accounts, including Libs of TikTok, recirculated scenes from Dead End: Paranormal Park and highlighted creator Hamish Steele’s contentious post about Charlie Kirk.
  • Netflix shares declined a few percent over several sessions last week, with reports estimating roughly $15 billion in market capitalization was wiped out.
  • Netflix has not issued an official public response to the boycott calls or the criticism of its kids’ programming as of the latest reports.
  • Steele pushed back on social media, calling several claims false and saying Netflix was not actively promoting the show, while analysts warned of potential reputational and subscriber risks.