Go woke go broke. It may be cliché but in the case of Netflix that is exactly what has happened. $50 Billion is a lot of money.
The drop caused Netflix to shave more than $50 billion off its market cap. It is now the worst-performing stock of 2022 in the S&P 500, down 62.5% year-to-date.
This has been a disastrous year for Netflix and not just with the Meghan and Harry backlash.
Netflix lost Henry Cavill who was working for a discount in The Witcher, one of the most exciting IP’s today, so long as they stayed true to the source material. In short, not only did they simply refuse to do so, the writers expressed open hostility to the source material.
Perhaps Netflix didn’t know that Andrzej Sapkowski, who grew up in Soviet occupied Poland, wrote The Witcher to teach children the evils of moral relativism, a propaganda/psychological warfare technique commonly used by leftists and cultural Marxists designed to break down the ability to discern the difference between right and wrong. Woke ideology is literally a form of cultural Marxism so it is no surprise that the writers found the source material to be repulsive.
Netflix and the show runner Lauren Hissrich had a choice, get back to something resembling the source material or continue down the woke path with Henry Cavill and the fans abandoning the show. They chose to stay woke and the fan backlash was breathtaking.
Netflix also chose to go woke with the Vikings: Valhalla series and the resulting audience score was 51%.