After Netflix stocks plummeted this week due to an exodus of subscribers moving to other streaming platforms, Tesla CEO Elon Musk roasted the company over its unwatchable social justice content.
Netflix shares cratered by over 25% on Monday after it revealed that it was losing subscribers for the first time in over a decade.
“The woke mind virus is making Netflix unwatchable,” tweeted Musk.
A total of 200,000 subscribers cancelled their Netflix subscriptions during the first quarter of the year. And things are only going to worsen for Netflix as it’s predicting it will lose 2 million more subscribers in the second quarter.
The company blamed competing streaming services as a reason behind the revenue loss.
“Our revenue growth has slowed considerably. Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition is creating revenue growth headwinds,” claimed the company.
The subscriber loss flew in the face of past predictions by the company. Prior to the news, Netflix told investors that it was expecting to add 2.5 million new subscribers at the beginning of this year.
Netflix has said that viewers should expect to see a crackdown on account sharing, although details have yet to be released.
Musk has caught the attention of the business world in recent weeks after launching a multi-billion dollar bid to acquire Twitter.
“Twitter has extraordinary potential. I will unlock it,” wrote Musk in a letter to Twitter.
Prior to that, self-described free speech absolutist Musk bought a 9.2% stake in the company, making him the largest shareholder at the time.
Some are now calling on Musk to purchase Netflix and de-wokify the streaming service.