Following the September 9 release of the controversial French film “Cuties,” Netflix has seen a drop in shares and a rise in cancellation rates.
The subscription cancellation numbers began to rise on September 10, as soon as the movie was released on the streaming platform. #CancelNetflix was also trending on Twitter. Just a couple days later, on September 12, the cancellation rate rose to almost eight times higher than the average daily rate — a multiyear high for Netflix.
It’s unknown what percentage of subscribers have canceled. As of June 30, Netflix had 193 million subscribers globally.
Additionally, Netflix’s shares have been declining since September 8, the day before Cuties was released. On September 10, the shares of the company fell 3.9 percent.
On Monday, September 14, Netflix’s shares dropped another 1.3 percent.
On September 15, Cuties was the fourth most-watched film on Netflix in the U.S.