Elon Musk calls for followers to cancel Netflix subscriptions due to controversy surrounding an animated show featuring a transgender character, “Dead End: Paranormal Park.” Musk claims Netflix is promoting a “transgender woke agenda.” The show was canceled in 2023 after two seasons. Netflix has not commented on the situation.

Despite Musk’s call for a boycott, analysts believe the backlash may not significantly impact Netflix. The streaming giant reported 301.63 million subscribers in Q4 2024. Some analysts believe that any impact on subscriber counts will be offset by an increase in ad revenue. Netflix stock is down 4% this week, but experts don’t see a reason to sell.

The backlash against Netflix is reminiscent of a 2023 boycott against Anheuser-Busch InBev after an ad campaign featuring a transgender influencer. However, CNBC contributor Karen Finerman notes that the Bud Light boycott had a more substantial impact than recent examples. Some experts believe the backlash against Netflix will be short-lived.

Read more at CNBC: Elon Musk calls for canceling Netflix. Here’s what’s happening