It used to be that Netflix was the inexpensive alternative to going to the movies.
But now Netflix may be ready for its final curtain call.
Because Joe Biden’s economy has people going so broke they can’t even afford to do this anymore.
Netflix stock dropped another 35% last week on news that the one-time entertainment streaming platform king has been losing subscribers at a shocking rate.
And what’s worse for Netflix and its investors is the latest drop comes after Netflix shares had already plummeted 40% just since January.
This drop gave Netflix the dubious distinction of being the worst-performing stock of 2022 in the S&P 500.
The stock’s most recent crash primarily stems from the company’s announcement that it lost a whopping 200,000 subscribers in the first quarter of 2022 alone, after initially predicting a 2.5 million gain.
Clearly, the company never heard of the “level of expectations theory.”
There are a number of reasons for the very poor showing. Not the least of which is the horrible economy under Joe Biden that makes it a struggle for people to even enjoy the most basic entertainment.
As Americans are making tough choices between vital items like food, gas, and medicine, luxury items like Netflix are cut without much thought at all.
As Bidenflation just gets worse and worse, this trend will continue.
Of course, another reason is the very ‘woke’ decision making of Netflix over the last few years.
It started with the wildly inappropriate movie Cuties that featured young girls in hot pants and continued this year with a show about pregnant men, and one dedicated to solely attacking white people.
As we’ve seen from Disney and other corporations gone ‘woke,’ the American people want to be entertained, not propagandized, and lectured.
And they certainly don’t want their children turned into human petri dishes for the pedophiles and groomers to corrupt and destroy.
We are finding out that the American people will only put up with so much depravity before they say “enough.”
So what is Netflix’s solution? Better programming? A cut in pricing?
No, they are considering adding ads to their streaming service.
That’s right, you will now get to pay to watch little girls molested by old men, with ads to boot.
No wonder Netflix will likely be but a memory by the end of the year.
Netflix, Disney, Twitter, Facebook, CNN, it seems all the ‘woke’ corporations are getting hurt the most.
You would think someone, somewhere would be able to add it all up.
But that would require someone being taught actual math, that’s not allowed anymore either.
Now that Elon Musk is buying Twitter, maybe, just maybe, someone at Netflix will wake up and realize there is a way to salvage the streaming service.
But more ‘woke’ only means more ‘broke.’
Stay tuned to Pants on Fire for more on this developing story.