Why Netflix Subscriptions Are Going Down? Elon Musk Has An ‘Answer’

Streaming big Netflix has, for the primary time in a decade, reported a loss in subscribers. The loss in subscriber depend additionally led to the corporate’s shares shedding greater than 20% in worth. As Netflix reported a loss in subscribers for the primary time, Tesla CEO Elon Musk stated that it’s the “woke thoughts virus” that’s making Netflix unwatchable, which can have led to the drop in subscriber depend.

In a tweet responding to a SlashDot tweet on Netflix‘s share efficiency, Musk gave his take over the crash. “The woke thoughts virus is making Netflix unwatchable,” Musk stated in a tweet. With the Tesla CEO’s remark, individuals had been fast to interpret what his feedback meant. From the feedback on his Tweet, it appears to be that the billionaire meant that the concern of offending individuals typically hinders with the standard of content material.

The woke thoughts virus is making Netflix unwatchable

— Elon Musk (@elonmusk) April 20, 2022

Individuals responded to Musk’s comment in settlement, with some saying that the pattern has spilled over to different content material like video video games and TV as nicely. Some individuals like well-known YouTuber JerryRigEverything importantly identified that this might be as a consequence of extra streaming platforms displaying up up to now few years.

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Netflix, on Tuesday noticed a greater than 20% drop in its share worth because of the firm’s lack of subscribers. Netflix reported a lack of 200,000 subscribers in the course of the first quarter of 2022. The corporate has blamed quarter-over-quarter erosion to suspension of its providers in Russia because of the nation’s invasion of Ukraine over the loss in subscribers.

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Netflix ended the primary quarter of 2022 with 221.6 million subscribers, barely lower than the ultimate quarter of the final yr. “We’re not rising income as quick as we’d like,” the corporate stated in an earnings letter.

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