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Why Netflix Subscriptions Are Going Down? Elon Musk Has An Reply

Streaming large Netflix has, for the primary time in a decade, reported a loss in subscribers in over a decade. The loss in subscriber depend additionally led to the corporate’s shares shedding greater than 20 p.c in worth. As Netflix reported a loss in subscribers for the primary time, Tesla CEO Elon Musk mentioned that it’s the “woke mind virus” that’s making Netflix unwatchable, which can have led to the drop in subscriber depend.

In a tweet responding to a SlashDot tweet on Netflix‘s share efficiency, Musk gave his take over the crash. “The woke mind virus is making Netflix unwatchable,” Musk mentioned in a tweet. With the Tesla CEO’s remark, folks have been fast to interpret what his feedback meant. From the feedback on his Tweet, it appears to be that the billionaire meant that the worry of offending folks usually hinders with the standard of content material.

Folks responded to Musk’s comment in settlement, with some saying that the development has spilled over to different content material like video video games and TV as effectively. Some folks like well-known YouTuber JerryRigEverything importantly identified that this could possibly be resulting from extra streaming platforms displaying up up to now few years.

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Netflix, on Tuesday noticed a greater than 20 p.c drop in its share worth because of the firm’s lack of subscribers. Netflix reported a lack of 200,000 subscribers throughout the first quarter of 2022. The corporate has blamed quarter-over-quarter erosion to suspension of its providers in Russia because of the nation’s invasion of Ukraine over the loss in subscribers.

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Netflix ended the primary quarter of 2022 with 221.6 million subscribers, barely lower than the ultimate quarter of the final yr. “We’re not growing revenue as fast as we’d like,” the corporate mentioned in an earnings letter.

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