Netflix appears to steadily be climbing its way out of financial ruin after canceling ‘woke’ programming and deciding to back controversial figures like Dave Chapelle.
The streaming service took a hit in the first half of 2022, losing about 1,170 million subscribers as rivals such as Paramount+ and Disney+ raked them in.
The huge decline was seen by some as a direct consequence of the company’s late response to demands from its viewers to tone down their woke agenda.
But Netflix started bouncing back after the cancelation of some of its progressive programming flops, including Meghan Markle’s Pearl, Dr. Ibram X. Kendi’s Antiracist Baby and He’s Expecting, which depicts a man who becomes pregnant.
Netflix added about 7.6 million subscribers in the fourth quarter of 2022, which was higher than forecasted, and is now at about 230.7 million paid subscribers.
The share price went from 230.05 in October 2022 to 299.93 in March 2023.
Netflix appears to steadily be climbing its way out of financial ruin after canceling ‘woke’ programming and deciding to back controversial figures like Dave Chapelle
The streaming service started bouncing back after the cancelation of some of its progressive programming, including Meghan Markle’s Pearl, Dr. Ibram X. Kendi’s Antiracist Baby and He’s Expecting, which depicts a man who becomes pregnant (pictured)
Netflix added about 7.6 million subscribers in the fourth quarter of 2022, which was higher than forecasted, and is now at about 230.7 million paid subscribers
Over the past year, Netflix traded ‘woke’ content for true crime documentaries like Dahmer – Monster: The Jeffrey Dahmer Story, The Murdaugh Murders, along with anti-woke comedians Dave Chappelle and Chris Rock.
Just recently, Netflix canceled the animated kids’ series Ridley Jones after releasing its fifth final season last week.
It comes as two-time Kidscreen Award winner and Emmy nominee series received harsh criticism online amid Episode 8 of Season 5, ‘Herd Day’ which centers around a bison called Fred, who comes out as non-binary to their grandmother.
As part of the wave of cutbacks prompted by Netflix’s drop in subscribers in the first quarter of 2022, Meghan Markle’s ill-fated project ‘Pearl’ and Dr. Ibram X. Kendi’s Antiracist Baby were dropped.
Pearl, which focused on 12-year-old Pearl’s exploring achieving women throughout history, was only in the development stage.
The service also produced more ‘woke’ content such as He’s Expecting, which depicts a man who becomes pregnant.
Viewers have blasted the company, saying they had no interest in ‘patronizing, virtue-signaling lectures.’
Netflix’s adaptation of Resident Evil, for instance, was received with criticism by viewers who slammed the streaming giant for making the main characters woke and vindictive towards men, Cosmic Book reported.
Meghan Markle’s ill-fated project ‘Pearl’ and Dr. Ibram X. Kendi’s Antiracist Baby are part of a wave of cutbacks prompted by Netflix’s drop in subscribers in the first quarter of 2022
Netflix has quietly canceled the animated kids’ show Ridley Jones that in a recent episode centered around a bison named Fred who came out as non-binary to its grandmother
The share price went from 230.05 in October 2022 to 299.93 in March 2023
Over the past year, Netflix traded ‘woke’ content for true crime documentaries like Dahmer – Monster: The Jeffrey Dahmer Story, The Murdaugh Murders (pictured)
The first iteration of Ryan Murphy and Ian Brennan’s Monster anthology, titled Dahmer – Monster: The Jeffrey Dahmer Story, saw huge success and became Netflix’s second most popular English TV season after Stranger Things
In May 2022, Netflix executives warned they will not ‘censor specific artists or voices’ even if employees consider the content ‘harmful’.
Said document also called on workers to tighten their belts and reign in corporate spending as the company’s finances falter.
Young activists have targeted the likes of comedian Chappelle for jokes about transgender people and aimed to get him canceled.
He said in the stand up special ‘gender is a fact,’ and criticized what he said was the thin skin of the trans community.
The jokes were based on observations made by Harry Potter author JK Rowling, who in 2019 said trans women were not actually women and were a threat to her identity.
But Netflix CEO Ted Sarandos rowed in behind Chappelle and continued to publish the show – triggering a mass exodus of woke workers.
Netflix finally launched a crackdown on woke workers trying to silence artists such as Dave Chappelle (pictured)
Netflix finally appeared to be stamping out the backlash with the memo titled: ‘Netflix Culture — Seeking Excellence.’
The memo, which was sent to staff, was the first update to the culture guide in five years when it used to just be called ‘Netflix Culture’.
But it keeps the core principles of the original document with notes on empowering employee decision-making and calling for candid feedback.
The docket appeared to be Netflix taking a firm stand against those trying to thwart artistic content they disagree with.
The question remains on whether Netflix’s commitment to switch gears about wokeness will actually yield results, and if it indeed it’s a genuine concern of the company or a PR strategy.
A man holds a placard as he attended a rally in support of the Netflix transgender employee walkout in LA in October
Netflix’s headquarters are pictured in Los Gatos, California. Executives have pointed out HBO and Hulu have been able to ‘maintain strong brands while offering an ad-supported service
Netflix, which operates in over 190 countries, has also been looking to grow its share in newer international regions as the U.S. and Canada markets saturate.
Earlier this month, it laid out plans to crack down on password sharing for accounts on its streaming platform.
‘We’re always exploring ways to improve our members’ experience. We can confirm that we are updating the pricing of our plans in certain countries,’ a spokesperson for the company said.
Netflix currently offers several plans to its 221.64million subscribers – all without advertising.
Its most popular scheme costs $15.49 a month, and it was unclear how much the new one would be.
HBO Max charges $15 a month for uninterrupted viewing, and $10 a month with advertising.
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