Netflix has suffered a sharp decline in market value after billionaire entrepreneur Elon Musk urged viewers to abandon the streaming platform, accusing it of promoting what he described as “woke bias.”
By Thursday midday, shares of the streaming giant had dropped 4.3 percent to $1,140, trimming its market capitalization to $483 billion from $498 billion a day earlier. According to trading data, the company’s value fell by close to $15 billion in little more than a day and a half.
Musk’s criticism of Netflix content
The controversy began on Tuesday when Musk reacted to a post on X, formerly Twitter, that shared a clip from the animated series Dead End: Paranormal Park. The programme, which features a transgender character, was released for children and carried a TV-Y7 rating. Though it was cancelled in 2023 after two seasons, it remains accessible on the platform.
Cancel Netflix for the health of your kids https://t.co/uPcGiURaCp
— Elon Musk (@elonmusk) October 1, 2025
The repost accused the show of advancing transgender themes to children. The original message read:
“Dead End Paranormal Park, a show on Netflix, is pushing pro-transgender on CHILDREN. This show is advertised for 7-YEAR-OLDS.”
Musk replied directly to that post, writing:
“this is not ok.”
From there, he expanded his criticism. Musk shared additional posts from users claiming to have cancelled their Netflix subscriptions in protest and alleged that the company was intentionally embedding LGBTQ+ themes in its content. In one message, he declared:
“Cancel Netflix for the health of your kids.”
In another he added:
“Transgender propaganda isn’t just quietly lurking in the background on Netflix. They are actively pushing it on users.”
Broader context of Musk’s views
Musk’s disapproval of LGBTQ messaging has been a recurring theme in his public remarks. His critics often connect this stance to his strained relationship with his transgender daughter, Vivian Wilson. Wilson has distanced herself from Musk, saying she no longer wishes to be related to him.
In a widely reported interview with The Washington Post last year, Musk reflected on their relationship, saying of his daughter:
“dead, killed by the woke mind virus.”
Such statements have fueled debate over whether his public interventions are partly rooted in personal matters. For some supporters, Musk is standing against cultural trends he believes are being forced on audiences. For opponents, his words are seen as harmful to an already marginalized community.
Netflix response and history with controversy
Netflix has not issued a response to Musk’s recent comments. The company has, however, faced similar storms before and generally defended its programming decisions as falling under freedom of expression. In 2020, it stood firm when the film Cuties was criticised worldwide for its depiction of young actors in sexualised dance scenes.
The streaming platform has positioned itself as a space that accommodates diverse voices and narratives, often drawing fire from both conservative and progressive audiences depending on the content.
Market impact
By the close of trade on Thursday, Netflix shares had recovered some of their losses, ending at $1,161 with a market valuation of $493 billion. The stock has fallen around 4 percent during the week but remains more than 30 percent higher than at the start of the year.
Analysts tracking the company believe Musk’s campaign is unlikely to have a lasting impact on Netflix’s bottom line. They argue that the company’s stock remains highly valued, making it less vulnerable to social media-driven boycotts. According to several market observers, short-term turbulence is not unusual for large technology firms, especially when linked to public controversies involving high-profile figures.
