Some Netflix subscribers cancelled their subscription to the streaming platform after Reed Hastings, the co-founder, made a $7 million dollar donation to Kamala Harris presidential campaign.
According to Netflix the rate of subscription cancellation almost tripled in July when Hastings publicly endorsed Harris and made a donation to her campaign.
Hastings, a Democrat supporter and philanthropist public support for Harris angered Republicans, some of whom took to social media posting their cancellation confirmations, while calling for a collective boycott of the streamer.
July already marked the month with the highest rate of users ditching subscriptions with the streaming service in 2024, with a cancellation rate of 2.8 percent. This was due in part to the streaming giant culling its basic tier – the cheapest ad-free plan on offer, costing $11.99 per month – on July 13.
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But 10 days later, Netflix saw a five-day surge in users boycotting the platform – an exodus that came after the company’s executive chair threw his support behind Harris, according to Bloomberg.
“Congrats to Kamala Harris – now it is time to win,” Hastings wrote on X in the early hours of July 23, two days after Harris announced her presidential campaign.
Later that day, the tech mogul revealed to The Information that he had donated $7m to The Republican Accountability PAC – an anti-Donald Trump super-political action committee that describes itself as “Republicans and conservatives who hate” what the former president has done to the GOP
Hastings has long been a long time Democratic donor, splurging more $5.3m – including $1.4m in support of President Joe Biden – in 2020
Whether the recent subscriber cancellations affect Netflix’s bottom line will be better known on Oct. 17 when the streamer reports third-quarter fiscal results.
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