Netflix Stock Tanks 25 Percent, Is Woke Programming Sinking Company? - The Jewish Voice
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Netflix Stock Tanks 25 Percent, Is Woke Programming Sinking Company?

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By PAUL BOIS (Breitbart) Netflix saw its stock tank 25 percent after it reported losing 200,000 subscribers in the company’s first-quarter – the sharpest decline in a decade.

“The company’s shares cratered more than 25% in extended hours after the report on more than a full day’s worth of trading volume,” reported CNBC. “Fellow streaming stocks RokuSpotify and Disney also tumbled in the after-hours market after Netflix’s brutal update.”

Elon Musk has a theory, that he Tweeted out: Wokeness is killing Netflix.

“The woke mind virus is making Netflix unwatchable,” Musk tweeted in response to the news.

The Daily Wire highlighted some of the platforms “woke” programming

Boston University academic and Critical Race Theory advocate Ibram X. Kendi worked with Netflix to adapt his book “Antiracist Baby” into an animated kids’ show. Chris Nee — the creator of Disney Junior’s hit “Doc McStuffins” — joined Kendi in the project. “Antiracist Baby” introduces “the youngest readers and the grown-ups in their lives to the concept and power of antiracism.” A statement from Netflix said Kendi himself would be producing the show.
Meanwhile, Kendi’s book “Stamped from the Beginning” — which argues that “racist thought is alive and well in America” — would take the form of a documentary. A third Kendi production would center upon “Stamped: Racism, Antiracism, & You,” which is directed toward the young adult audience. 
In October 2020, Netflix began creating a show about the life of Colin Kaepernick — a former San Francisco 49ers quarterback who gained notoriety for kneeling during the national anthem, as well as later suggesting the NFL draft bears a resemblance to slavery.
“With his act of protest, Colin Kaepernick ignited a national conversation about race and justice with far-reaching consequences for football, culture, and for him, personally,” the series’ director said in a press release. “Colin’s story has much to say about identity, sports, and the enduring spirit of protest and resilience. I couldn’t be happier than to tell this story with the team at Netflix.”
Also in the fall of 2020, Netflix subscription cancellations soared by 800% amid reaction to the company’s release of “Cuties” — a French film that depicts pre-pubescent girls in sexually provocative situations. Netflix defended the film as a “social commentary against the sexualization of young children.” 

The stocks nosedive slashed $50 billion of its market capitalization, which was $157 billion on Tuesday.

 

With the closing of the second quarter, Netflix is projected to lose 2 million global subscribers. In a letter to shareholders on Tuesday, the company said the company’s content still remains popular but faces stiff competition. It also cited the company cutting off its paid 700,000 membership in Russia for a sharp drop in global subscribers.

Netflix Co-CEO Reed Hastings said the platform may shift to offering “lower-priced, ad-supported tiers as a means to bring in new subscribers after years of resisting advertisements on the platform.”

“Our revenue growth has slowed considerably,” the company wrote. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds.”

That admission comes after it reportedly told shareholders the company’s subscriber base would grow by 2.5 million in the first quarter, with analysts predicting it closer to 2.7 million. The situation has become so dire that Netflix Co-CEO Reed Hastings said the platform may shift to offering “lower-priced, ad-supported tiers as a means to bring in new subscribers after years of resisting advertisements on the platform.”

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