1srelluc
Diamond Member
Netflix loses millions of customers after boss backs Kamala Harris
Netflix saw more than two million cancellations right after co-founder Reed Hastings announced a $7 million campaign donation.
Netflix saw cancellations spike after co-founder Reed Hastings said he was backing Kamala Harris.
Hastings, still serving as the streaming giant's chairman and the face of the company, said he had donated $7 million to the Democratic candidate's campaign as well.
The rate of cancellations - known as churn - nearly tripled in the US after Hastings' endorsement on July 22, according to research firm Antenna.
Netflix, the market leader by some margin - with 280 customers globally and 84 million in America - typically enjoys the lowest churn rate in the industry.
In July, US customers canceled their subscriptions at a rate of 2.8 percent, the highest monthly figure since February. That meant a loss of more than 2 million subscribers.
The cancellations coincided with Donald Trump supporters calling for conservatives to ax their subscriptions in response to Hastings backing Harris.
Hastings, a longtime Democratic donor, endorsed Harris in a post on X, previously known as Twitter, on July 22.
A day later, Hastings told The Information that he had donated $7 million to a pro-Harris super PAC.
Bloomberg highlighted that July 26 marked the worst single day for Netflix cancellations this year, just three days after the donation news broke.
Poorer people can make statements, same as rich people.
CEO's/Executives/Companies need to STFU and stay out of our elections.....I bet the shareholders are pissed.
Someone should ask the twat if he will freely pay his fair share, if he will agree to pay the tax on unrealized gains on his stock shares.
