Global streaming leader Netflix is facing a major backlash after Tesla CEO Elon Musk called for a boycott of the platform, triggering a sharp decline in its stock value and renewed debate over its content choices.
The controversy stems from the resurfaced animated series “Dead End: Paranormal Park”, which features a teenage transgender character. The show, cancelled in 2023 after two seasons, recently drew criticism from conservative commentators who accused Netflix of promoting a so-called “woke agenda”.
Musk amplified the criticism on X (formerly Twitter), announcing that he had cancelled his own Netflix subscription and urging others to do the same, citing the need to “protect children’s well-being”. His post quickly went viral, sparking the #CancelNetflix movement that sent ripples across Wall Street.
According to WION, Netflix’s shares plunged by 4.3% in less than two days, wiping out roughly $15 billion in market capitalisation. Over the course of a week, the streaming giant recorded its steepest stock drop since April, slipping nearly 5%.
The billionaire has consistently spoken out against what he terms the “woke mind virus”, particularly in matters related to gender identity — referencing his own family’s experiences.
