By: Savannah Smith | 01-23-2018 | News
Photo credit: Laurence Agron |

Netflix Loses $39 Million Because of Kevin Spacey

Troubled actor Kevin Spacey has caused Netflix millions of dollars in losses.

Netflix shared on Monday that it took an “unexpected” $39 million charge for content that “we’ve decided not to move forward with.”

The company did not cite particularly the project responsible for such losses in its letter to investors. A source privy to the matter, however, disclosed to media that the content is definitely from axed Kevin Spacey projects.

The source further revealed that the charge incurred by the company is entirely from costs associated with ending “House of Cards” and opting not to proceed with “Gore”, both starring Spacey. The actor was the subject of several accusations of sexual misconduct late last year that triggered the cancellation of all his TV and movie projects.

Prior to the explosion of the series of allegations against its main lead actor, Netflix had been considering ending “House of Cards”, but the Spacey scandal that rocked the entire entertainment industry complicated matters. Production on the final season, which has yet to be aired, was put for several weeks as the show’s writers rewrote the series without Spacey’s character.

Netflix also scrapped the release of the project “Gore”, a biopic on writer Gore Vidal. The film project had already been in post-production when the scandal on Spacey erupted.

The sexual charges against Spacey, both from past and present co-workers, marred what was an otherwise blowout quarter for Netflix. The company successfully managed to add 8 new subscribers in the fourth quarter, despite a price increase announced in that period.

Spacey was accused of making sexual advances against actor Anthony Rapp at a party in 1986 when Rapp was only 14 years old. Current and former “House of Cards” staff also revealed that Spacey created a toxic work environment through a pattern of sexual harassment.

The Netflix news offers a glimpse into the financial cost that recent sexual scandals have brought to the producers and distributors. A wave of sexual misconduct allegations has hit Hollywood and other industries.


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