Subscribers “punished” the “streaming giant”…
Subscription cancellations at Netflix skyrocketed in the days after co-founder and chairman Reed Hastings endorsed Vice President Kamala Harris and donated millions to her campaign. While the streaming platform typically has the lowest cancellation rate in the industry, it seems this move didn’t sit well with some. According to international media, the cancellation rate tripled in the US after Hastings’ support, according to research firm Antenna.
A number of US customers canceled their Netflix subscriptions at a rate of 2.8% in July – higher than in any month since February, Bloomberg reports.
Subscribers – presumably – “punished” the “streaming giant” because it scrapped its basic plan, which was its cheapest ad-free option, in the same month. “Congrats to Kamala Harris – now it’s time to win”Hastings wrote in a post on X on July 22, after Harris officially became the Democratic nominee. He also told “The Information” that he donated 7 million dollars in favor of Kamala Harris.
Netflix cancellations nearly tripled after co-founder Reed Hastings endorsed Kamala Harris: report https://t.co/w72yQAB1xJ pic.twitter.com/f0EM0d27gl
— NY Post Business (@nypostbiz) September 30, 2024
Frustrated subscribers posted photos of their canceled subscriptions online with the hashtag #CancelNetflix. Three days after the donation was made public, July 26 was the worst day for Netflix subscriptions, according to Bloomberg.
Source: Skai
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