• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Elon Musk Blasts Netflix as Shares Drop

Elon Musk Blasts Netflix as Shares Drop

April 20, 2022
Trump DOJ Promised Transparency. Conservative Orgs Think It’s Falling Short

Trump DOJ Promised Transparency. Conservative Orgs Think It’s Falling Short

June 17, 2025
Will American Allies’ Crippling Covert Strikes Be Wake-Up Call For US?

Will American Allies’ Crippling Covert Strikes Be Wake-Up Call For US?

June 17, 2025
‘Not Getting The Job Done’: Chip Roy Says Senate Changes To Trump’s Megabill Is Dead On Arrival In House

‘Not Getting The Job Done’: Chip Roy Says Senate Changes To Trump’s Megabill Is Dead On Arrival In House

June 17, 2025
‘Doesn’t Have The Votes’: GOP House Members Blast Senate’s ‘Big, Beautiful’ Bill Revisions

‘Doesn’t Have The Votes’: GOP House Members Blast Senate’s ‘Big, Beautiful’ Bill Revisions

June 17, 2025
NYC Socialist Mayoral Candidate Hires Private Security While Pushing Lefty Police Reform

NYC Socialist Mayoral Candidate Hires Private Security While Pushing Lefty Police Reform

June 17, 2025
WILL HILD: Senator Tillis’ Bill Empowers Woke Corporations

WILL HILD: Senator Tillis’ Bill Empowers Woke Corporations

June 17, 2025
Texas To No Longer Fund Border Wall As Federal Gov’t Looks To Assume Responsibility

Texas To No Longer Fund Border Wall As Federal Gov’t Looks To Assume Responsibility

June 17, 2025
Trump Admin’s Effort To Detect Noncitizen Voters Already Appears To Be Yielding Fruit

Trump Admin’s Effort To Detect Noncitizen Voters Already Appears To Be Yielding Fruit

June 17, 2025
Senate Republicans Pull Punches On Biden’s Green Energy Freebies

Senate Republicans Pull Punches On Biden’s Green Energy Freebies

June 17, 2025
Companies Bring First Trump Tariff Challenge To Supreme Court

Companies Bring First Trump Tariff Challenge To Supreme Court

June 17, 2025
‘The Breakfast Club’ Caller Spirals After Journalist Calls Trump ‘The President’

‘The Breakfast Club’ Caller Spirals After Journalist Calls Trump ‘The President’

June 17, 2025
Elon Musk Reportedly Targets Letitia James In Free Speech Showdown

Elon Musk Reportedly Targets Letitia James In Free Speech Showdown

June 17, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Wednesday, June 18, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

Elon Musk Blasts Netflix as Shares Drop

by Savannah Rychcik
April 20, 2022
in News
235 17
0
Elon Musk Blasts Netflix as Shares Drop

MILAN, ITALY - MARCH 03: A Netflix logo is seen during the HOM temporary store opening to launch the new HOM Collection, the first line of home products for LGBT and families, as Netflix promotes the movie ' Il Filo Invisibile' on March 03, 2022 in Milan, Italy. (Pier Marco Tacca/Getty Images)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Tesla CEO Elon Musk tore into Netflix as the streaming service’s shares dropped.

He responded to a tweet issued by Slashdot, saying, “Netflix Shares Crater 20% After Company Reports it Lost Subscribers For the First Time in More Than 10 Years.”

Musk tweeted, “The woke mind virus is making Netflix unwatchable.”

The woke mind virus is making Netflix unwatchable

— Elon Musk (@elonmusk) April 20, 2022

CNBC reported Wednesday Netflix shares dropped over 30%.

CEO Reed Hastings said during an earnings call the company is considering the idea of adding a cheaper tier to maintain more users, as CNBC noted.

“Those who have followed Netflix know that I have been against the complexity of advertising and a big fan of the simplicity of subscription,” Hastings said.

He added, “But as much as I am a fan of that, I am a bigger fan of consumer choice, and allowing consumers who would like to have a lower price and are advertising-tolerant to get what they want makes a lot of sense.”

Michael Nathanson, a media analyst at MoffettNathanson, told CNN, “What worked until this point may not be working anymore,” adding, “The world’s changed.”

According to CNN, Netflix anticipates it will lose another two million subscribers in the current quarter.

Zak Shaikh, vice president of programming at research-based media firm Magid, told CNN the streaming service needs to answer two questions.

“How do they turn the ship around and start increasing subs again, and how do they generate more revenue per sub?” Shaikh said.

He added, “I think it comes down — as it often does — to content. Netflix just has to remember what made it so special was that it had the type of content and volume of content you couldn’t get anywhere else. That’s the value proposition they need to return to.”

Shaikh suggested this is “just the reality check that is inevitable for an industry leader facing multiple new entrants to the marketplace.”

Tags: Elon MuskU.S. News
Share196Tweet123
Savannah Rychcik

Savannah Rychcik

IJR, Writer

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th