Reed Hastings, the CEO of Netflix, has been receiving criticism on social media as a result of Vice President Kamala Harris’ potential presidential campaign in 2024.
Despite his graduation from Stanford, the individual has remained visible to the public by returning to his former university as a guest, being featured in Netflix content about his business, and making appearances on television.
In July 2024, his name has once again become a hot topic as people discuss his career and Netflix’s revolutionary impact on the entertainment industry, following a major donation to a super PAC.
This is not the initial instance in which individuals have expressed their desire to cancel their plans. There has been an increase in discussions regarding Netflix’s price increases, crackdowns on password sharing, and concerns about the quality of their content. However, the current backlash can be attributed to Hastings’ political views.
Did Netflix donate to Kamala Harris’ campaign?
Netflix did not make a donation to Kamala Harris’ presidential campaign. However, co-founder Reed Hastings did.
Although Netflix is a business entity, it did not donate to Harris’, or anyone else’s campaign in 2024. This shows that a company like Netflix is not equivalent to an individual.
What is Backlash?
Some Netflix subscribers are considering canceling their subscription after learning that co-founder Hastings contributed $7 million to a super PAC that supports Harris’ bid for the presidency.
On July 23, Reuters was the first to report the donation. Later, Variety confirmed that it was the largest contribution to a campaign that Hastings has made so far.
When Biden made the decision to withdraw from the election, Hastings responded by congratulating Kamala Harris and expressing his determination to win. He shared his thoughts on X, stating, “Congratulations to Kamala Harris – let’s go win!”
The decision by Harris to join Netflix was met with criticism from Republicans and her detractors on social media. One user, with the Twitter handle @chevygirlmuddin, tweeted “Canceling your service today 🤡”in response to the news. Another account, @renee1928maga, who had an American flag emoji in their display name, also expressed their disapproval, stating “I think it’s time to boycott Netflix. They are already overcharging Americans.”
Netflix: Clarification on Subscriber Numbers
Despite disinformation being spread by social media users after Hastings’ donation to Harris’ campaign, it is important to note that Netflix did not actually lose 6 million subscribers in the immediate aftermath of the news.
The account for X, known for its satirical content, shared a graphic on Twitter claiming that Netflix had lost over 6 million subscribers shortly after making a large donation. However, there is no evidence to support this and the account clearly states that it is a fake news page.
Netflix’s Stocks Didn’t Drop 40% After the Donation
The satirical account also claimed that Netflix’s stock had plummeted by 40% due to a major campaign donation announcement. Accompanying the graphic was a fabricated quote stating, “It was a huge mistake.”However, it should be noted that this information is completely false.
Since Netflix is a publicly traded company, you can easily verify this claim by checking the stock price through https://www.youtube.com/watch?v=LsAN-TEJfN0
“Following the discouraging June 2024 presidential debate, he reassured The Information on July 23 that we are once again in the running.”
According to The Times, Hastings and his wife Patty Quillin have contributed over $20 million to the Democratic party in recent years, with a portion of that amount going towards Biden’s 2020 campaign.
Past boycott attempts
Despite repeatedly drawing ire for his public political comments, there has not been any proven correlation between the reactionary threats of canceled subscriptions and drops in Netflix’s subscriber count for Hastings.
Despite being the leader in overall users, with a subscriber count of over 260 million in 2024, the platform’s growth has slowed down in recent years. This was evident in April 2022, when it experienced its first-ever decline in subscribers, losing 200,000 in the first quarter.
Despite the drop in numbers, Netflix attributed it to various external factors. These included heightened competition, approaching its maximum target audience, and the widespread practice of password sharing. In a letter to shareholders (via The New York Times), the company acknowledged these challenges as competitors continue to expand their reach.
Stay informed on the latest additions to Netflix’s streaming library with our guides for Bridgerton Season 4 and the Minecraft TV show.
Related Articles:
Andor Season 2 Becomes the Costliest Star Wars Project Ever
1:34
New Yellowstone Fan Theory Revolutionizes Understanding of Taylor Sheridan’s Character Travis
11:00
Virgin River Season 6 Reveals Why Key Pool Table Scene Lacked an Intimacy Coordinator
0:38
Leave a Reply