Netflix Loses $15b After Elon Musk Calls For Everyone To Boycott

Netflix lost more than $15 billion in market value over two days after Elon Musk urged his followers to cancel subscriptions. His posts, targeting a children’s show featuring a transgender lead, reignited debate over the platform’s exposure to political boycotts.

Musk criticized the animated series Dead End: Paranormal Park, calling it inappropriate for children and accusing Netflix of pushing a “woke agenda.” He amplified clips from the show and urged parents to cancel their accounts. The company declined to comment on the campaign.

The show’s creator, Hamish Steele, reported receiving waves of abuse and announced a break from social media. Despite being cancelled in 2023, the series remains available, with actor Zach Barack—who voices the trans protagonist—defending its positive impact on young viewers.

Netflix shares dropped amid Musk’s repeated posts, echoing past incidents where his online interventions rattled brands and stock prices. Similar controversies, such as the 2020 backlash to Cuties, caused only short-lived subscriber losses.

Financially, Netflix is stronger than in earlier flare-ups, thanks to growth, password crackdowns, and price hikes. Still, executives must balance diverse programming—including LGBTQ+ titles—with the risk of political pushback.

Musk’s campaign drew praise from conservative commentators and criticism from others who accused him of fueling “cancel culture.” For Netflix, the immediate impact was limited, though questions remain about how it approaches representation and withstands culture-war scrutiny.

By week’s end, the stock had steadied, but the episode showed how quickly online activism—especially from high-profile figures—can send tremors through even the largest entertainment companies.