Netflix Inc. took to Twitter on Tuesday to publicly oppose the Federal Communications Commission’s proposed rule change that would reverse Obama-era “open internet” protections referred to as net neutrality, in favor of what the FCC says are “light-touch” regulation. In a response to its tweet, Netflix said “We’ve been supporting for years through [the Internet Association] and ‘Day to Save Net Neutrality’ with a banner on Netflix homepage for all users… This current draft order hasn’t been officially voted on, so we’re lodging our opposition publicly and loudly now.” FCC Chairman Ajit Pai has argued that putting an end to net neutrality rules will help foster innovation among internet service providers. The FCC will release its draft order on Wednesday, before voting on it on Dec. 14. Shares of Netflix are up close to 59% in the year to date, while the S&P 500 index is up more than 16% and the Dow Jones Industrial Average is up more than 19%.
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