TikToker Alex Warren has denied rumors that the announcement of the upcoming Hype House reality show caused Netflix’s stocks to drop, following a huge amount of backlash toward the show.
The Hype House is one of the biggest content houses on TikTok, consisting of creators like Thomas Petrou, Chase Hudson, Larray, and many more.
With millions of followers combined, Netflix even decided to work with the group on a reality show, to show the crazy behind the scenes of living and working in a TikTok content house.
On April 22, Netflix announced the upcoming project, but they were met with an extraordinary amount of backlash.
“Why are you giving these irresponsible TikTokers a series? No one asked for this,” one commenter wrote, another saying, “literally nobody wants to watch this.”
Some even went as far as to say they would be canceling their Netflix subscription, slating the company for cutting other popular shows, and launching the Hype House series.
People even started attributing a drop in Netflix’s stocks to the announcement of the show, theorizing it dropped as a result of people canceling their subscriptions.
netflix stocks after they announced their hype house show 🧍♀️ pic.twitter.com/GAhkg3hdwJ
— li ☻ misses harry ⁹⁴ (@91TEMPORARYFX) April 24, 2021
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However, Hype House member Alex Warren was quick to shut down the claims. “I keep seeing rumors that our show caused Netflix stocks to drop. If you actually look at their stocks by a google search you’ll see they dropped when they didn’t meet their quarterly earnings. The day before,” he said.
i keep seeing rumors that our show caused Netflix stocks to drop. If you actually look at their stocks by a google search you’ll see they dropped when they didn’t meet their quarter earnings. The day before.
— Alex Warren (@alexwaarren) April 26, 2021
In its first quarter, Netflix added only 3.98 million subscribers, failing to reach its own projection of 6 million.
The timing of the drop in stocks and the announcement of the Hype House reality show were so close together that there were many who believed the two were correlated, but Alex made sure to clear up the rumors.
While the show has received a huge amount of backlash, it appears that everything will continue to go ahead as normal.
What exactly the show will be like remains to be seen, but many are waiting in anticipation to see whether it meets their expectations.