Wednesday, January 24, 2018

Netflix loses and writes off a whopping $39 million in content because of Kevin Spacey's sexual harassment scandal and other sex predators.

When Netflix announced its 4th quarter earnings of 2017 late on Tuesday, the global video streaming service also revealed that it wrote off a whopping $39 million in content it commissioned and that were in stages of being produced, but that Netflix won't be showing anymore.

Netflix said the R39 million write-down was related to content "we've decided not to move forward with".

Netflix CFO David Wells said the write-down of $39 million was "related to the societal reset around sexual harassment" and that Netflix never "had one of this magnitude".

Part of this $39 million is very clearly the scandalous fallout of the sexual predator Kevin Spacey who was fired from House of Cards' 6th season and the show that has also been cancelled and the season reduced from 13 to just 8 last episodes.

Seasons of House of Cards in South Africa is broadcast on M-Net (DStv 101) that acquired the broadcasting rights to this show and Orange is the New Black from Netflix.

Then there's also at least one Kevin Spacey project that Netflix abandoned as well, the biographical Gore Vidal movie in which Kevin Spacey would have appeared.

Netflix also dumped the alleged sex predator Louis CK who was to film a second stand-up special for Netflix after sexual misconduct charges in November 2017.

Netflix also suspended production on the 3rd season of The Ranch after Danny Masterson left the show after rape accusations were made against him. Production will resume without him in a few weeks' time.