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‘Go Woke, Get Broke’: Netflix Stock Plunges and Subscribers Flee

‘Go Woke, Get Broke’: Netflix Stock Plunges and Subscribers Flee

“The woke mind virus is making Netflix unwatchable.”

Netflix stock took a major plunge this week and they are losing subscribers at an alarming rate. Some people are attributing this development to the company going too woke.

Consumers are bombarded with left-wing political messaging in entertainment and many have clearly had it.

From Bloomberg News, via Yahoo Finance:

Netflix Rout Is Worst Since 2004, Punishing Roku and Disney, Too

Netflix Inc. investors punished the company for its shock loss in subscribers and abrupt turnabout to embrace advertising after years of shunning it.

Shares of the streaming leader plunged 35%, erasing $54 billion of market value in its biggest drop since 2004. The swoon made Netflix the worst-performing stock of the year on both the benchmark S&P 500 and Nasdaq 100 indexes and sent shock waves across the media universe, sinking Warner Bros. Discovery Inc., Roku Inc. and others.

Netflix is seeking ways to stop a loss of subscribers and combat investor fears that its best days are over. Co-founder Reed Hastings had said for years that he doesn’t want to offer advertising and had no problems with password sharing.

But the company is changing course after losing 200,000 customers in the first quarter, the first time it has shed subscribers since 2011. Netflix also projected it will shrink by another 2 million customers in the current quarter, a huge setback for a company that regularly grew by 25 million subscribers or more a year. Netflix also will curb its spending on films and TV shows in response to the customer losses.

Elon Musk weighed in on this. Via FOX Business:

Elon Musk rips Netflix for ‘woke mind virus’ making it ‘unwatchable’ as shares nosedive

Tesla and SpaceX CEO Elon Musk ripped Netflix as having a “woke mind virus” that makes subscription streaming service “unwatchable” Tuesday as shares took a nosedive.

“The woke mind virus is making Netflix unwatchable,” Musk tweeted Tuesday night, responding to Slashdot’s tweet about Netflix’s shares cratering by 20% after the company reported it lost subscribers for the first time in more than 10 years.

By Wednesday morning before market open, Netflix shares were down by 27%. The Wall Street Journal reported Wednesday that Netflix shares were on course for their worst day in nearly a decade.

This has been building for quite a while, you may remember a controversy from the fall of 2021, when Netflix was roasted for a movie about little girls in a twerking dance troupe called “Cuties.”

Here’s a new offering from the service:

It’s worth noting that Netflix signed a deal with the Obamas in the spring of 2021.

From Variety:

Barack and Michelle Obama Sign Netflix Production Deal

Netflix has secured a deal with former President Barack Obama and First Lady Michelle Obama to produce series and movies for the streaming service. The former first couple will, according to an announcement Monday from the company, potentially work on scripted and unscripted series as well as docu-series, documentary films, and features under the multi-year deal.

Why pay extra for woke programming when it’s available for free everywhere?

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Comments

Morning Sunshine | April 21, 2022 at 11:07 am

Also, I have a LOT of respect for Queen Elizabeth. And her grandson is destroying her life’s work to give netflix juicy tidbits. Not a fan.

But then, I quit netflix over cuties a few years back.

Netflix still trends downward today (Thu, 4/21). It started at 222.86 and is now 212.46 as of about 11:00 Eastern. Even if I’m not reading the graph exactly right, that’s good enough. Get woke, go broke.
.

I barely watch Netflix these days and it’s because they really have no content I want to watch. However, I can’t get rid of it because the Mrs. is still in love with the service.

    SeiteiSouther in reply to chrisboltssr. | April 21, 2022 at 11:28 am

    Same here. I dislike the shift of offerings from movies from all years to crap shows that last only a season. My weakness are the Korean and some of the other Asian shows. However, my wife and I both agreed if they raised their prices again, we’d ditch it and look elsewhere.

    There’s Tubi, Pluto, and a host of other streaming services that are free, without all the bullshit bloat that Netflix apparently proffers.

      chrisboltssr in reply to SeiteiSouther. | April 21, 2022 at 12:04 pm

      Frankly I am watching Netflix for the foreign content as well. The Korean television has been great as have the Japanese non-anime content.

      JohnSmith100 in reply to SeiteiSouther. | April 22, 2022 at 7:30 pm

      “It’s worth noting that Netflix signed a deal with the Obamas in the spring of 2021”

      That is when I dumped Netflix, Obama and his uppity wife were bad, Biden -Harris have been worse.

    I finally convinced the Mrs. to cancel a few months ago. It amounted to me reviewing titles and the basic message they conveyed, together with asking if we wanted to continue supporting that kind of messaging and pay for the flood of garbage into our home, as followers of The Way. “What about the XYZ show” she pleaded. “I’ll find it somewhere else”. Didn’t hurt to point out that the monthly fee for Netflix would pay for several other streaming services.

I have a Netflix movie DVD that I’m planning to watch and send back today. The account will then be canceled.

Mrs. McG and I were Netflix subscribers for years, but for how much it costs I’d have to watch about ten times as much content as I do — and all the other streaming services are snapping up the good stuff before Netflix ever sees it.

I can find better uses for that money, especially these days.

It’s not just the wokeness that is hitting their subscriptions but they have been losing the 3rd party content that has been driving everything for years. Their own productions have been abysmal, very woke with nothing to offer other than stories that no one is interested in (unless you like seeing men kissing men and women kissing women). Amazon Prime has been going in that direction too.

I have learned to get by without cable, movies, or anything else. Now I have to wean to wean myself off of YouTube. I spend too much time online.

nordic_prince | April 21, 2022 at 11:31 am

I must admit, we’ve been using Netflix to watch K-dramas and brush up on the language. At least with the K-dramas, there’s a LOT less of the woke crap.

We never touch the English-language stuff.

It was much better when “Awnold” was preggo.

It’s not just Netflix. It’s all of them. Nearly every new show and movie these days is garbage.

The entire entertainment industry is broken.

I’m probably cancelling the flix after the last season of stranger things is done.

If you have no qualms about piracy, there are several places where you can get the things that are worth it for free, even on your firestick or smart tv.

Cinema APK and Oceanstreamz are both apps that will work on them pretty well, at least for the popular stuff.

I have Netflix only because my son has it and put it on my TV, so I don’t pay. It use to be good, and you could have several people watching at same time. Now it’s one TV only.
I would t pay for it, lots of crap.

    henrybowman in reply to gonzotx. | April 21, 2022 at 3:54 pm

    I have to admit, they used to have a lot of stuff on it that I was interested in watching. Now, I can page through the entire screen wondering who makes all this total crap, and why.

    I do appreciate their taking the time to curate special categories, though. They have specific lines for “watch black voices,” “watch women’s voices,” and so on. It’s a terrific time-saver, like a highway sign that says “bridge out ahead.”

      Pretty much every streaming service has this now. I watch a lot on Tubi (for free, no ads), and they have these categories. I can always find something good to watch on Tubi (now that I’ve said that, they’ll go full-freak “woke” and I will have to uninstall them from my Roku).

Alex deWynter | April 21, 2022 at 12:31 pm

I’ve had Netflix from almost the time they started. Quit getting DVDs a few years back, since none of the content was worth it and now the only thing I stream from them is Cobra Kai. If they woke that up I’m done.

The Gentle Grizzly | April 21, 2022 at 1:02 pm

I dropped Netflix over their swing to all black, all women, all gutter-language-dialog offerings. They HAD some good programming, but I’d not know if anything is any good now, because of my cancellation of service.

I have a DVD-only account with about 25 discs left to go. Once that is up, I am canceling.

Woke and ethically progressive. Woke and morally broke. That said, be wary of exercising liberal license to indulge diversity [dogma] (i.e. color judgment, class-based bigotry).

Antifundamentalist | April 21, 2022 at 1:11 pm

My family is just waiting for the final installment of “Stranger Things” then we are gone too. There’s really nothing else they offer that I am interested in watching. The few shows the kids watch aren’t netflix originals anyway, so we should be able to find them elsewhere.

What many people forget is that the OBAMAS are instrumental in running Netflix!!

ANOTHER OBAMA FAILURE: Netflix Implodes Days After Release of Obama Nature Documentary:
https://freebeacon.com/satire/another-obama-failure-netflix-implodes-after-release-of-nature-documentary/

Netflix is a failure as it is old repeats, international movies and shows, and newer woke stuff that are bad. Most new entertainment no mater where it is shown is good as it has a Hollywood slant that is woke and bad. I only had access to it because of one of my sons gave me access via his account, but he is going to end it because he is reaching his limit of bad.

    daniel_ream in reply to JG. | April 21, 2022 at 3:48 pm

    Increasingly I find that I can’t watch anything post-2010 or so. Fortunately there’s a lot of really good stuff out there, in HD even, if you know where to look.

      How funny. I was just saying that I can’t think of a single good American television series since Sons of Anarchy and Battlestar Galactica (the remake). Both predate your 2010 cutoff, but I am at a loss to think of a single watchable show after these two. Honestly, I watch more British tv than I do American, at least I expect them to be “woke” but able to present that without bashing me over the head with it.

      I find myself watching a lot of “classic” American television, though, we used to create good stuff.

        nordic_prince in reply to Fuzzy Slippers. | April 21, 2022 at 7:26 pm

        When we had cable (pre-covid), my kids loved to watch MeTV, with all the oldies – The Rifleman, The Dick Van Dyke Show, Hogan’s Heroes, The Andy Griffith Show, etc.

        What’s on TV these days is just pure swill.

          You can watch all that for free on Tubi, well, I haven’t seen Hogan’s Heroes there, but everything else is there. Also check out Pluto. You can watch pretty much anything good for free these days. BTW, so love the Rifleman!

          Also, depending on where you are, you can just get an antenna to stream in local stations for free. I only get four where I live now, but I got 21 where I used to live. It’s worth checking out, one of my four freebies is MeTV. I love their lineup.

I thought Netflix and the Obama’s signed way before 2021?

Wife and I have an affinity for Brit TV – specifically BritBox and Acorn and PBS for Masterpiece Theater / Documentaries.

Shows we’ve enjoyed watching: Doc Martin, The Detectorists, Mum, Good Karma Hospital, The Larkins, Brokenwood Mysteries, Unforgotten, Endeavor …

We appreciate that the Brits don’t use laugh tracks to tell dumb audience members when to laugh – they don’t have the lauguage restrictions the US has but neither do they resort to cheap bathroom humor like US programs do. They seem to engage viewer intelligence more so than US programs do, and I don’t feel slimed/manipulated after watching them.

I love SciFi – but of late have hated the Star Trek spinoffs … Discovery has everyone tripping all over themselves to affirm one another and generally blow smoke up each other’s skirts … and Picard sends his time back in time to kick some ICE ass and set free a bunch of illegals free from a transport bus … no thanks … I’d rather see Kirck punch out a Gorn – you know?

    I love Brit tv and tend to watch it more than American because it’s clever, funny, well-written, well-acted, and pretty much just better all around. Yeah, I’ll get the SJW stuff, but I expect that from the Brits and just kind of go with it since it’s not so disgustingly in-your-face as the American counterparts.

    If you haven’t seen the Battlestar Galactica remake, it’s well-worth watching (at least through Season Three, then it goes woke). As is Sons of Anarchy, which thankfully reins in the woke crap through the whole series. After that, I cannot think of a single American show worth the time. Not one.

    That’s just pathetic and sad, really, and shows how woke the entire entertainment industry has become. That I would rather watch re-runs of Columbo than anything they have on offer should be a huge red flag. But it’s not, it’s a mark of honor. Those Columbo watchers are all RAAAAACIST. And stuff. Our four viewers are the real deal, good people who get that America sucks and that everyone in America is a racist or blah blah. Blah.

    Our cultural output is disgusting, unwatchable, and repulsive. I’ll stick to watching the Brits and American oldies on streaming services. When they take those, I’ll be looking for pals to play board games with because that woke crap is never taking hold here.

      We binge-watched Battlestar a few years back and loved it. I’ve never seen Sons of Anarchy.

      With all that’s happened since the election and covid, we tend toward more light-hearted entertainment. Sci-Fi wise, one of our favorites was Farscape. I still watch the original Twilight Zone and Outer Limits episodes.

      There’s a wealth of old timey radio broadcasts online. Have you heard of of X Minus One which was popular in the 50’s? Archive of the episodes here: https://archive.org/details/OTRR_X_Minus_One_Singles/

      More old radio programs listed here – if that’s to your liking:

      https://archive.org/details/oldtimeradio?and%5B%5D=subject%3A“Science+Fiction”&sort=-week&page=1

        Sons of Anarchy is definitely not light, fun stuff, but it’s so so good! I do watch Sci-fi, but I’m not the Sci-fi afficionada that Leslie is. I watched the first Star Trek series but never really got into the rest of them, and I find all the shows about wormholes or whatever kind of dumb (but then, even Anglophile that I am, I kind of hate Doctor Who, but I do find Red Dwarf endlessly amusing). For Sci-Fi tv, my favorite has to be Firefly. Twilight Zone is also good, but I will pass on it if there’s an episode of the Love Boat on. I love that gimmicky romance crap, too! 🙂

        I do like Sci-Fi movies, but apart from Firefly (and kind of Red Dwarf), I’m not a huge fan of Sci-Fi tv.

          daniel_ream in reply to Fuzzy Slippers. | April 23, 2022 at 11:46 pm

          Honestly, I couldn’t stand Firefly and I’ve never understood the appeal (well, okay, I’m being disingenuous; I understand exactly what the appeal is to millennials who grew up in broken homes. I can’t understand the appeal to anyone else).

          Overwhelmingly, SF TV is just awful, even and especially the stuff that gets held up as “great”. The first season or two of 2003 BSG; the first two seasons of Heroes; the first five seasons of Supernatural; the 2000 Dune miniseries. Those are good TV, not just good SF TV.

          Just about everything else is about the quality of a Fuller House episode.

      daniel_ream in reply to Fuzzy Slippers. | April 23, 2022 at 11:42 pm

      play board games with because that woke crap is never taking hold here

      Ummm….you haven’t been paying much attention to the board game industry over the last few years, I take it.

    drednicolson in reply to MrE. | April 21, 2022 at 8:40 pm

    Anything post-DS9 I prefer to pretend doesn’t exist. Sisko treaded dangerously into “we are black, woe is us” territory a few times but nowhere near the level your average ‘flix original oozes in every scene.

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