Netflix has lost about $25 billion in market value after users began canceling subscriptions en masse in response to accusations that the platform was promoting radical transgender content in children’s programming. Elon Musk and activists such as Robby Starbuck have accused the company of engaging in “social engineering” instead of providing entertainment.
The streaming giant ended the week with an estimated $25 billion decline in stock value following a wave of subscription cancellations. On October 1, Elon Musk, who has 227 million followers on X, called for a boycott of Netflix, writing: “Cancel Netflix for the health of kids.” His post gained over 91 million views and one million likes. As a result, the phrase “Cancel Netflix” began trending across X and Google, reaching record levels of online search interest.
Robby Starbuck, a critic of “woke” corporate culture, published a video featuring Netflix’s Vice President for Inclusion Strategy, Vernā Myers, who emphasized rejecting neutrality on social issues and promoting transgender ideology and the BLM movement as part of a mission to “transform culture.” Starbuck argued that “Netflix is a social engineering company, not an entertainment company.”
Conservative commentator Benny Johnson explained on X that the campaign against Netflix gained traction due to the sexualization of children in programs labeled as family entertainment. He stressed that such shows, which include radical sexual themes, are “immoral and should be illegal.” Johnson added that the issue goes beyond politics, calling it a moral crisis.