Netflix sees spike in cancelations after founder endorsed Harris for president

Netflix has seen the single worst day for cancelations this year after its co-founder Reed Hastings endorsed Vice President Kamala Harris for president and revealed that he had donated millions to her campaign.

July already marked the month with the highest rate of users ditching subscriptions with the streaming service in 2024, with a cancelation 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.

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 tweeted 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 – a staunchly 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.

A swarm of furious MAGA supporters took to X that day to post screenshots of their canceled subscriptions.

“Cancelled my Netflix subscription,” one person wrote with another teasing: “I have a feeling you cost Netflix way more than $7 million with this one.”

A third added: “I think it’s time to boycott Netflix. They’re overcharging Americans anyway.”

Three days later on July 26, Netflix recorded the single worst day of cancelations this year.

It’s not clear whether Hastings’s endorsement of Harris impacted the streaming service beyond the five-day spike of cancellations.