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Netflix Sheds About $15 Billion After Elon Musk Calls for Boycott

The campaign grew from resurfaced clips of a 2022 kids’ show featuring a transgender character.

Overview

  • Elon Musk said on Oct. 2 that he canceled his Netflix subscription and urged others to do the same, prompting #CancelNetflix posts and shared cancellation screenshots.
  • Reports cited a roughly 4.3% share drop in about a day and a half and nearly 5% over the week, estimating a market-cap decline of about $15 billion.
  • Dead End: Paranormal Park streamed in 2022 for two seasons, was not renewed in 2023, and remains available on Netflix with a TV-Y7 rating.
  • Conservative accounts, including Libs of TikTok, resurfaced clips that Musk amplified, saying the content was “not ok.”
  • Musk reposted allegations about creator Hamish Steele related to comments on activist Charlie Kirk’s death, drawing backlash, and Netflix has not issued an official response.