Netflix appears to steadily be climbing its way out of financial ruin after canceling ‘woke‘ programming and deciding to back controversial figures like Dave Chapelle.
The streaming service took a hit in the first half of 2022, losing about 1,170 million subscribers as rivals such as Paramount+ and Disney+ raked them in.
The huge decline was seen by some as a direct consequence of the company’s late response to demands from its viewers to tone down their woke agenda.
But Netflix started bouncing back after the cancelation of some of its progressive programming flops, including Meghan Markle‘s Pearl, Dr. Ibram X. Kendi’s Antiracist Baby and He’s Expecting, which depicts a man who becomes pregnant.
Netflix added about 7.6 million subscribers in the fourth quarter of 2022, which was higher than forecasted, and is now at about 230.7 million paid subscribers.
The share price went from 230.05 in October 2022 to 299.93 in March 2023.
Over the past year, Netflix traded ‘woke’ content for true crime documentaries like Dahmer – Monster: The Jeffrey Dahmer Story, The Murdaugh Murders, along with anti-woke comedians Dave Chappelle and Chris Rock.
Just recently, Netflix canceled the animated kids’ series Ridley Jones after releasing its fifth final season last week.
It comes as two-time Kidscreen Award winner and Emmy nominee series received harsh criticism online amid Episode 8 of Season 5, ‘Herd Day’ which centers around a bison called Fred, who comes out as non-binary to their grandmother.
As part of the wave of cutbacks prompted by Netflix’s drop in subscribers in the first quarter of 2022, Meghan Markle’s ill-fated project ‘Pearl’ and Dr. Ibram X. Kendi’s Antiracist Baby were dropped.
Pearl, which focused on 12-year-old Pearl’s exploring achieving women throughout history, was only in the development stage.
The service also produced more ‘woke’ content such as He’s Expecting, which depicts a man who becomes pregnant.
Viewers have blasted the company, saying they had no interest in ‘patronizing, virtue-signaling lectures.’