Kevin Spacey’s Sexual Harassment Scandal Has Reportedly Value Netflix $39 Million

Whereas Netflix’s market worth hit new information on Monday, the corporate additionally disclosed that it took a $39 million write-down for “unreleased content material.”

This “surprising” hit got here from content material that the corporate “determined to not transfer ahead with.” Though Netflix


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didn’t specify which content material it had lower, sources advised the Monetary Occasions and CNNMoney that the associated fee was related to tasks through which Kevin Spacey starred.

Learn: Netflix Worth Hits $100 Billion as Inventory Soars on Massive Subscriber Good points

Following accusations of sexual misconduct final yr, the actor has been lower from a number of tasks. This consists of the biopic Gore about Gore Vidal, which Netflix has determined to not launch, and the suspension of Spacey from his hit Netflix sequence, Home of Playing cards.

Feedback from Netflix CFO David Wells seem to corroborate this level. Wells stated that whereas write-downs are usually not unusual, certainly one of “this magnitude” hadn’t beforehand occurred, due largely to a “societal reset round sexual harassment.”

Learn: Netflix to Debut Shorter, 15-Minute Stand-Up Comedy Specials

Spacey shouldn’t be the one Netflix star to have been hit by allegations of sexual misconduct. Louis C.Ok.’s stand-up particular has been canceled and actor Danny Masterson was written out of The Ranch.