Netflix seems to be steadily coming 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 around 1.17 billion subscribers as rivals like Paramount+ and Disney+ lured them away.
Some saw the huge decline as a direct consequence of the company’s belated response to demands from its viewers to tone down its wake-up agenda.
But Netflix began to rebound after the cancellation of some of its progressive programming flops, including Meghan Markle’s Pearl, Dr. Ibram X. Kendi’s Antiracist Baby and He’s Waiting, which shows a man getting pregnant.
Netflix added around 7.6 million subscribers in the fourth quarter of 2022, more than anticipated, and now has around 230.7 million paid subscribers.
The share price went from 230.05 in October 2022 to 299.93 in March 2023.
Netflix seems to be steadily coming out of financial ruin after canceling ‘wake-up’ programming and deciding to back controversial figures like Dave Chapelle.
The streaming service began to rebound after the cancellation of some of its progressive programming, including Meghan Markle’s Pearl, Dr. Ibram X. Kendi’s Antiracist Baby and He’s Waiting, which depicts a man becoming pregnant (pictured )
Netflix added around 7.6 million subscribers in the fourth quarter of 2022, more than anticipated, and now has around 230.7 million paid subscribers.
Over the past year, Netflix has traded in “woke” content for true crime documentaries like Dahmer – Monster: The Jeffrey Dahmer Story, The Murdaugh Murders, alongside anti-wake comedians Dave Chappelle and Chris Rock.
Netflix recently canceled the animated children’s series Ridley Jones after releasing its fifth season finale last week.
It comes as the two-time Kidscreen Award-winning and Emmy-nominated series received harsh criticism online in the midst of Season 5 Episode 8, ‘Flock Day,’ which centers on a bison named Fred, who is non-binary for her grandmother.
As part of the wave of cuts triggered by the fall in Netflix subscribers in the first quarter of 2022, Meghan Markle’s ill-fated ‘Pearl’ project and Dr. Ibram X. Kendi’s Antiracist Baby were axed.
Pearl, which focused on 12-year-old Pearl’s exploration of the achievement of women throughout history, was only in the development stage.
The service also produced more “woke” content, such as He’s Waiting, depicting a man becoming pregnant.
Viewers have criticized the company, saying they had no interest in “condescending, virtue-signaling lectures.”
Netflix’s adaptation of Resident Evil, for example, was met with criticism from viewers who criticized the streaming giant for making the main characters wake up and become vengeful towards men, Cosmic Book reported.
Meghan Markle’s ill-fated ‘Pearl’ project and Dr. Ibram X. Kendi’s Antiracist Baby are part of a wave of cuts triggered by the drop in Netflix subscribers in Q1 2022
Netflix has quietly canceled the animated children’s show Ridley Jones, which in a recent episode centered on a bison named Fred who came out as non-binary to his grandmother.
The share price went from 230.05 in October 2022 to 299.93 in March 2023
Over the past year, Netflix has traded ‘wake up’ 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, was hugely successful and became Netflix’s second most popular English-language TV season after Stranger Things.
In May 2022, Netflix executives warned that they would not “censor specific voices or artists” even if employees find the content “harmful.”
The document also called on workers to tighten their belts and rein in corporate spending as the company’s finances falter.
Young activists have targeted the likes of comedian Chappelle for their jokes about transgender people and have sought to have it cancelled.
She said in the stand up special that “gender is a given” and criticized what she 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 that trans women were not actually women and were a threat to their identity.
But Netflix CEO Ted Sarandos rowed after Chappelle and continued to publish the show, prompting a mass exodus of awake workers.
Netflix finally launched a crackdown on awake workers who were trying to silence artists like Dave Chappelle (pictured)
Netflix finally seemed to be killing the backlash with the memo titled: ‘Netflix Culture: Pursuing Excellence’.
The memo, which was sent to staff, was the first update to the culture guide in five years when it used to be simply called ‘Netflix Culture’.
But it maintains the basic tenets of the original document with notes on empowering employees to make decisions and asking for candid feedback.
The record seemed to be that Netflix took a strong stand against those who try to thwart artistic content they disagree with.
The question remains whether Netflix’s commitment to shifting gears on the wake will actually pay off, and whether it is in fact a genuine concern of the company or a public relations ploy.
A man holds a banner while attending a rally in support of Netflix’s transgender employees strike in Los Angeles in October.
Netflix headquarters is shown in Los Gatos, California. Executives have noted that HBO and Hulu have been able to “maintain strong brands while offering an ad-supported service.”
Netflix, which operates in more than 190 countries, is also looking to increase its share in newer international regions as the US and Canadian markets become saturated.
Earlier this month, he laid out plans to crack down on password sharing for accounts on his streaming platform.
“We are always exploring ways to improve the experience for our members. We can confirm that we are updating the prices of our plans in certain countries,” a company spokesperson said.
Netflix currently offers several plans to its 221.64 million subscribers, all ad-free.
Its most popular scheme costs $15.49 a month, and it was unclear how much the new one would cost.
HBO Max charges $15 per month for uninterrupted viewing and $10 per month with ads.