Did Kevin Spacey cost Netflix nearly $40 million?
The streaming giant posted a banner fourth-quarter earnings report on Monday, but it included a $39 million write-down for content the company “decided not to move forward with”… and the “House of Cards” star immediately came to mind.
A source with knowledge of the situation confirmed to TheWrap the write-down was tied to cancelled Spacey projects. The story was first reported by Bloomberg.
The Golden Globe and Oscar winner was exiled from the Netflix political drama following accusations of sexual misconduct in November. The streaming media and video-on-demand service later decided to bring the show back for a final season, minus Spacey.
Latest entertainment videos
- Tom Petty's Cause of Death Has Been Revealed Wibbitz
- ‘Three Billboards’ sweeps female-focused SAG Awards Associated Press
- Peter Dinklage: It's the Perfect Time to End 'Game of Thrones' Wibbitz
- Ed Sheeran Is Engaged! InStyle
- Megyn Kelly Claps Back at Jane Fonda Over Criticism for a Plastic Surgery Question InStyle
- Team USA parade uniforms include touch of American frontier Associated Press
- Aziz Ansari Skips 2018 SAG Awards Over Sexual Misconduct Accusation Wibbitz
- Mindy Kaling Is Selling Her $2 Million Hollywood Home. Take a Look Inside Time
- Kidman's mission to 'eradicate violence against women' Associated Press
- Cardi B lands her first movie deal FoxM9NJ
Also Read: 'House of Cards' Is Coming Back for Final Season -- Without Kevin Spacey
On a company call Monday afternoon, Chief Financial Officer David Wells said the loss was “related to the societal reset around sexual harassment.” Netflix executives didn’t specify who — or which projects — were tied to the write-down on the call.
Spacey was also set to star in a movie about writer Gore Vidal for the streaming service, but that has also been scrapped.
Also Read: 'House of Cards' Writers Rushing to Rewrite Season 6 After Kevin Spacey's Exit (Report)
There were other possibilities that fit Wells’ explanation. Danny Masterson was written out of “The Ranch” following accusations of sexual assault, and a standup comedy special from Louis C.K. was axed in November after he admitted to sexual misconduct.
Wells said write-downs like this weren’t unfamiliar for the company, but that it “hadn’t had one of this magnitude.”
Read original story Did Kevin Spacey Cost Netflix $39 Million? At TheWrap