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

Streaming giant Netflix has, for the first time in a decade, reported a loss in subscribers. The loss in subscriber count also led to the company’s stocks losing more than 20% in value. As Netflix reported a loss in subscribers for the first time, Tesla CEO Elon Musk said that it is the “woke mind virus" that is making Netflix unwatchable, which may have led to the drop in subscriber count.

In a tweet responding to a SlashDot tweet on Netflix‘s share performance, Musk gave his take over the crash. “The woke mind virus is making Netflix unwatchable," Musk said in a tweet. With the Tesla CEO’s comment, people were quick to interpret what his comments meant. From the comments on his Tweet, it seems to be that the billionaire meant that the fear of offending people often hinders with the quality of content.

People responded to Musk’s remark in agreement, with some saying that the trend has spilled over to other content like video games and TV as well. Some people like famous YouTuber JerryRigEverything importantly pointed out that this could be due to more streaming platforms showing up in the past few years.

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Netflix, on Tuesday saw a more than 20% drop in its share value due to the company’s loss of subscribers. Netflix reported a loss of 200,000 subscribers during the first quarter of 2022. The company has blamed quarter-over-quarter erosion to suspension of its services in Russia due to the country’s invasion of Ukraine over the loss in subscribers.

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Netflix ended the first quarter of 2022 with 221.6 million subscribers, slightly less than the final quarter of the last year. “We’re not growing revenue as fast as we’d like," the company said in an earnings letter.

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