WHOA! The Kevin Spacey Scandal Has Cost Netflix Almost $40 Million Dollars

Kevin Spacey has virtually disappeared from public view. Ever since he became embroiled in a sex scandal with multiple accusers, he vanished. No much has been reported about him since, but Netflix recently said that the scandal has cost them. Big Time.

CNN reports:

Kevin Spacey cost Netflix $39 million

Netflix (NFLX) said Monday it took an “unexpected” $39 million charge for content that “we’ve decided not to move forward with.” The company did not specify which content in its letter to investors, but a source familiar with the matter told CNNMoney that it’s from axed Kevin Spacey projects.

The source said the charge is entirely from costs associated with ending “House of Cards” and opting not to proceed with the release of “Gore,” both of which starred Spacey. The actor was accused of sexual misconduct by several people late last year.

The Financial Times was first to report the details behind the charge.

The news offers a glimpse into the financial cost that recent sexual harassment scandals have had on producers and distributors. A wave of allegations has hit Hollywood and other industries.

“House of Cards” gave Netflix an early win for original programming when the political drama debuted in 2013. Shortly after the Spacey scandal broke in October, Netflix announced that the sixth season of the show would be the last.

That’s not chump change. It also suggests Spacey won’t be back anytime soon.

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