Last week, #CancelNetflix was trending on social media for days as outrage kept building after the streaming service uploaded the movie ‘Cuties’ which was slammed for “normalising paedophilia”.
The hashtag seems to have produced a massive surge in subscription cancellations for Netflix according to research company YipitData, who told Variety that cancellations in the U.S were up eight-fold.
The market value of Netflix has fallen by some $13 Billion since the controversy began, down from $220 billion to $207 billion when the markets closed Thursday, September 18th.
The fall reflects the 6% slump in Netflix’s share price after ‘Cuties’, which featured 11-year old girls twerking, grinding and touching themselves in a sexual manner, aired. Market Watch reported yesterday that Netflix was “underperforming the market”,
Netflix subscriber churn rates began to rise Sept. 10, the day after the release of “Cuties” on Netflix, when the hashtag “#CancelNetflix” was in the top-trending spot on Twitter, according to data compiled by YipitData.
“On Saturday, Sept. 12, Netflix’s cancellation rate in the U.S. jumped to nearly eight times higher than the average daily levels recorded in August 2020 — reaching a multiyear high, the data-analytics provider told Variety.
More than a million people have signed various petitions calling on the movie to be cancelled, and ratings on sites like Rotten Tomatoes show how deeply unpopular the movie is with an audience score of 4% as the controversy intensified. The trailer, even though it’s scrubbed of the worst of the movie, had a massive 1.4 million dislikes (against 40 thousands likes) on YouTube
While Netflix reported that the movie was amongst its ‘most-watched’ it seems that many of those viewing may have been those who wanted to see if the controversy was justified before cancelling.