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01-24-2018, 09:42 AM
Firing Kevin Spacey reportedly cost Netflix a whopping $39 million
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Netflix reported a loss of $39 million last quarter — and it looks like it can thank Kevin Spacey for the bill.
The company announced the Q4 loss on Monday, citing "unexpected" costs due to "unreleased content." Chief Financial Officer David Wells gave another hint at the source of the revenue loss, saying it was, "related to the societal reset around sexual harassment." No one named names, but *an unnamed CNN source (http://money.cnn.com/2018/01/22/media/netflix-kevin-spacey-cost/index.html) confirmed the cause was "axed Kevin Spacey projects."
Following reports that Spacey had sexually harassed and assaulted employees on the set (http://mashable.com/2017/11/02/kevin-spacey-sexual-assault-employees-house-of-cards/) of House of Cards in November, the streaming service announced it was severing ties with the actor. Production on the sixth season of the show was temporarily suspended, resuming after Netflix announced the final season would continue without its leading star (http://mashable.com/2017/12/04/house-of-cards-final-season-2018-without-kevin-spacey/). Read more... (http://mashable.com/2018/01/23/firing-kevin-spacey-netflix-39-million-dollars/)
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Netflix reported a loss of $39 million last quarter — and it looks like it can thank Kevin Spacey for the bill.
The company announced the Q4 loss on Monday, citing "unexpected" costs due to "unreleased content." Chief Financial Officer David Wells gave another hint at the source of the revenue loss, saying it was, "related to the societal reset around sexual harassment." No one named names, but *an unnamed CNN source (http://money.cnn.com/2018/01/22/media/netflix-kevin-spacey-cost/index.html) confirmed the cause was "axed Kevin Spacey projects."
Following reports that Spacey had sexually harassed and assaulted employees on the set (http://mashable.com/2017/11/02/kevin-spacey-sexual-assault-employees-house-of-cards/) of House of Cards in November, the streaming service announced it was severing ties with the actor. Production on the sixth season of the show was temporarily suspended, resuming after Netflix announced the final season would continue without its leading star (http://mashable.com/2017/12/04/house-of-cards-final-season-2018-without-kevin-spacey/). Read more... (http://mashable.com/2018/01/23/firing-kevin-spacey-netflix-39-million-dollars/)
More about Entertainment (http://mashable.com/entertainment/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Netflix (http://mashable.com/category/netflix/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), House Of Cards (http://mashable.com/category/house-of-cards/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Kevin Spacey (http://mashable.com/category/kevin-spacey/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Robin Wright (http://mashable.com/category/robin-wright/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial) https://pubads.g.doubleclick.net/gampad/ad?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1516758204 (https://pubads.g.doubleclick.net/gampad/jump?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1516758204)
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