Netflix lost a staggering amount of money firing Kevin Spacey from House of Cards
The streaming service cut ties with the actor following a spate of sexual misconduct allegations
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The amount of money reportedly lost by Netflix after cutting ties with Kevin Spacey has been revealed.
According to Deadline, its decision to cancel two projects following the accusations of sexual harassment and misconduct made against him saw the streaming service take a reported $39m hit.
While CFO David Wells remained tight-lipped on the actual sum during an earnings interview, sources claim that this was the amount of money on the table for Spacey's Gore Vidal biopic Gore and the sixth and final season of House of Cards.
Spacey had completed work on Gore which is now said to have been shelved while House of Cards will continue with Robin Wright taking sole lead duties as Claire Underwood. It's unclear how Spacey's character Frank will be written out when the show returns later this year.
Netflix's decision to cancel a Louis C.K. special following a damning New York Times article detailed allegations of sexual misconduct - something the comedian later admitted to - may also account for the loss.
During the earnings interview, Wells explained that write-downs are to be expected but that this was Netflix's first of this magnitude - a mandatory turn of events “related to the societal reset around sexual harassment.”
Following the allegations against Spacey, director Ridley Scott cut his performance of John Paul Getty III in drama All the Money in the World - he was replaced by Christopher Plummer.
Follow Independent Culture on Facebook
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments