Reports claiming that Netflix lost six million subscribers after its executive chairman, Reed Hastings, made a $7 million donation to Kamala Harris’ presidential campaign have gone viral on social media. Some also suggest that the company lost $2 billion in just four hours. However, these claims are far from accurate. Netflix has neither lost subscribers nor experienced a financial decline due to Hastings’ political contribution.
On July 26, 2024, the social media page “America’s Last Line of Defense” posted on X and Facebook:
“Netflix loses more than 6 million subscribers within hours of its big donation announcement.”
Another post from the same source read:
“Netflix stock tumbles almost 40% after big campaign donation announcement – $2 billion lost in 4 hours.”
A comment on this post added:
“It was a huge mistake.”
Despite these alarming claims, it is essential to note that “America’s Last Line of Defense” is known for satirical content, meaning the statements are fictional. Netflix did not lose six million subscribers, nor did their stock suffer any significant drop following Hastings’ donation.
The source of this misinformation can be traced back to America’s Last Line of Defense’s social media posts. The group, which operates the satirical “Dunning Kruger Times” website, explicitly states that their content is fictional. Their “About Us” section even says:
“Everything we publish is fiction and not real. If you believe it is real, you should get your head examined. Any resemblance to actual events or people is purely coincidental, and all images should be considered altered for satirical purposes.”
No credible news outlets have reported any such issues with Netflix, confirming that the company did not experience subscriber loss or stock issues related to Hastings’ donation.
Furthermore, a misleading post on X from @toughtalkty suggested that Netflix itself made the $7 million donation to Harris’ campaign, implying they had enough resources to avoid raising subscription rates. However, X’s community fact-checkers clarified that Netflix as a company made no such donation; it was Hastings personally who contributed. Their message stated:
“Netflix itself did NOT donate any money to the Harris campaign.”
These false reports surfaced after Kamala Harris secured the backing of most Democratic Party delegates. Reed Hastings’ donation went to a super PAC supporting Harris, and he joins other high-profile figures endorsing her campaign, including media mogul Barry Diller, film executives Donna Langley, Sherry Lansing, and directors like Steven Spielberg and J.J. Abrams.
Harris is running for president following President Joe Biden’s recent decision to withdraw from the race and endorse her candidacy. Currently, she holds the distinction of being the first South Asian American woman and the first Black American woman to serve as vice president.
