Netflix could lose up to 2 million subscribers this year. And to explain this disenchantment with the streaming platform, Elon Musk has an opinion that he did not hesitate to give in a tweet.
Netflix’s first quarter review this year ends with the loss of 200,000 subscribers. The course collapsed Wednesday morning by almost 40% (37.24%). Elon Musk gets involved and declares that “Woke Mind Virus Makes Netflix Unwatchable “.
Netflix hoped to gain 2.5 million additional users, but finds itself on the contrary deploring its first drop in ten years. The group would even plan to lose more in the second quarter.
What is Woke mind?
Elon Musk sticks in his Tweet to a review focused on Netflix content. It refers to a mentality highlighted in the platform’s original productions.
In the actual context, to be “awakened” is to be aware of and actively attentive to important facts and issuesparticularly with regard to racial and social justice.
Being awake or Woke therefore refers to one who has become aware, as opposed to those who are still “asleep” in the face of certain realities. This term and the movement that accompanies it supposedly lead to excesses, creating what would be called in French a new form of political correctness. We can thus translate Elon Musk’s sentence quite faithfully as: “The excessive tendency towards political correctness makes Netflix impossible to watch”.
Read also> Elon Musk sometimes said too much on Twitter: ranking of his worst tweets
The contextual analysis produced by Netflix management
Netflix’s analysis is quite different from that of Elon Musk. The (still) streaming leader reminds that Russians can no longer access Netflix. Additionally, the streaming platform has experienced boosted growth thanks to the confinements linked to Covid-19. This period being over, some of the users would not have extended their subscription.
In a letter to shareholders released on Tuesday, the company announced that it could lose two million subscribers next year. She refers to several issues that are negatively impacting the company’s growth, including massive password sharing and competition from other streaming services.
A Netflix with ads?
This drop in subscribers prompted the group to consider a potentially revolutionary approach: Netflix is considering, for the first time, a cheaper version of the service but which would display advertisements during programming.
“ Those who have followed Netflix know that I have been against the complexity of advertising and a big fan of the simplicity of subscription. Netflix chief executive Reed Hastings told investors on a conference call Tuesday night. “ But if I’m a fan of it, I’m an even bigger fan of consumer choice “.
Read also> Netflix: this is what could make you cancel your subscription