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Netflix Inc. (NASDAQ:NFLX) is facing a lawsuit from thousands of parents who claim that the platform's hit series 13 Reasons Why led to increased child suicide rates immediately after it was released.
What Happened: In March of 2017, Netflix released the first season of 13 Reasons Why, a TV series following a high school girl's suicide. Upon release, Netflix used its algorithms to target younger demographics.
The National Institute of Mental Health has attributed the 28.9% spike in the child suicide rate in the month following the show's release to the show itself. Given this empirical data, the families of almost 1000 children who attempted suicide are seeking relief from Netflix.
The plaintiff in the case, John Herndon, had a teen daughter who died by suicide after watching the show. His lawsuit alleges that suicide-prevention experts warned Netflix that the show would encourage teen suicides, but they deliberately ignored the warning.
Additionally, the lawsuit claims that "Without adequate warnings, Netflix did not permit its subscribers and families to make genuinely informed choices upfront about whether the show's content is right for them, their family or their children."
The Herndon's assert that this lawsuit is not to punish Netflix for creating a show about suicide but instead for not adequately warning viewers about the show's content and specifically targeting younger viewers after being warned of possible adverse effects.
The suit is seeking punitive, economic, and non-economic compensatory damages.
Why It's Important: If Netflix is found liable for failing to adequately warn viewers about the potential risks for children in watching their show, they will likely have to reassess their approach to media production in the future.
This case could set a weighty precedent that production companies should be held responsible for the social impacts of their media. Many of Netflix's shows and movies address suicide, mental health, anorexia, and many other weighty topics.
Additionally, in this case, a central contention is that Netflix deliberately used its algorithms to market 13 Reasons Why to younger (more vulnerable) demographics. If the court holds Netflix liable, they may have to change their algorithms when marketing to teenagers, who make up most of their users.
According to Statista reports from May of 2020, 70% of Gen Zers said they subscribed to Netflix while only 39% of Boomers could say the same. If Netflix must begin limiting marketing to younger demographics for mature content, they could experience a substantial decrease in viewership time.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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