Kevin Spacey Value Netflix $39 Million

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Netflix has misplaced tens of tens of millions of due to Kevin Spacey.

Netflix (NFLX) mentioned Monday it took an “surprising” $39 million cost for content material that “we have determined to not transfer ahead with.” The corporate didn’t specify which content material in its letter to traders, however a supply acquainted with the matter instructed CNNMoney that it is from axed Kevin Spacey tasks.

The supply mentioned the cost is totally from prices related to ending “Home of Playing cards” and opting to not proceed with the discharge of “Gore,” each of which starred Spacey. The actor was accused of sexual misconduct by a number of folks late final yr.

The Monetary Instances was first to report the main points behind the cost.

The information affords a glimpse into the monetary value that current sexual harassment scandals have had on producers and distributors. A wave of allegations has hit Hollywood and different industries.

“Home of Playing cards” gave Netflix an early win for unique programming when the political drama debuted in 2013. Shortly after the Spacey scandal broke in October, Netflix introduced that the sixth season of the present can be the final.

Whereas sources near the present instructed CNN on the time determination to finish “Home of Playing cards” had been within the works for a while, Spacey sophisticated issues. Manufacturing on the ultimate season, which has but to air, was placed on maintain for weeks as showrunners rewrote the present with out him.

Netflix additionally scrapped plans to launch “Gore,” a biopic on author Gore Vidal. The movie had been in post-production.

Associated: ‘Home of Playing cards’ staff allege sexual harassment, assault by Kevin Spacey

Actor Anthony Rapp instructed BuzzFeed in October about an alleged encounter with Spacey at a celebration in 1986, throughout which he mentioned Spacey made a sexual advance towards the then 14-year-old Rapp.

Present and former “Home of Playing cards” staff later instructed CNNMoney that Spacey had created a “poisonous” work atmosphere by way of a sample of sexual harassment.

The cost marred what was in any other case a blowout quarter for Netflix. The corporate added a document eight million new subscribers within the fourth quarter, regardless of a worth hike introduced throughout that interval.

Spacey is not the one Netflix star to be accused of sexual harassment or misconduct.

Netflix has additionally canceled plans for one more Louis C.Okay. stand-up particular within the wake of sexual misconduct allegations. And Danny Masterson was written out of “The Ranch” amid rape allegations.

Louis C.Okay. mentioned the tales about him had been true, and he apologized. Masterson has denied the allegations in opposition to him.

— CNNMoney’s Sandra Gonzalez and Chloe Melas contributed to this report.

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