Netflix lost $39 million on Kevin Spacey and “House of Cards”
$39 million
Even though Netflix had a remarkable fourth quarter performance, the platform wrote off a ton of money after it fired Kevin Spacey from its Emmy-winning series, “House of Cards.”
Published | Photo by Netflix
Netflix didn’t say it outright, but the Financial Times confirmed harassment allegations against Spacey were responsible for the company’s fourth-quarter charge for “unreleased content.”
Netflix also canceled its “Gore” biopic—starring Spacey as former US vice president Al Gore—which was in post-production.
Losses aside, Netflix was still able to beat earnings estimates and round out the year with a quarter-record 8.3 million new subscribers, for a total of 118 million.
