Netflix has reportedly lost nearly $25 billion in market value following a call by Tesla CEO Elon Musk for users to cancel their subscriptions, spotlighting a growing backlash against alleged “transgender messaging” in its children’s content.
Between September 27 and October 3, Netflix’s market worth dropped from around $514 billion to $489 billion, marking one of its worst weekly declines in months.
The slump came after Musk used his platform on X (formerly Twitter) to amplify a call for cancellation following controversial criticism of the show Dead End: Paranormal Park, which critics say promotes a progressive agenda and features LGBTQ+ characters.
Musk posted: “Cancel Netflix for the health of your kids.” Netflix shares declined more than 4% over five trading sessions, lagging behind other tech and streaming competitors.
Even as broader markets rose, Netflix’s stock continued under pressure. Critics say the drop reflects both real market anxiety and growing cultural tensions over what is deemed appropriate for children.
How Netflix will respond, and whether this backlash has staying power, remains a key question as the streaming giant heads into its next earnings report.
