Kevin Spacey, once a Hollywood heavyweight, had his career and reputation ruined by allegations of s*xual assault. The actor, known for his role as the magnetic Frank Underwood on the addictive Netflix series House of Cards, was the subject of multiple misconduct allegations, tarnishing his reputation and ultimately leading to his exile.
Streaming giant Netflix also took a financial hit due to the scandal, adding insult to injury for Spacey. Apparently, losing $39 million forced Netflix to face facts and make major changes to its show lineup.
Kevin Spacey’s Rise and Fall
Kevin Spacey has been acting for over 20 years, and in that time, he has given many memorable performances on film and television. The actor first became famous for his performance as a thief in Heartburn and has since appeared in several films, including the Oscar-winning American Beauty.
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However, Spacey’s breakthrough performance as Frank Underwood in the Netflix series House of Cards catapulted him to superstardom. There were both private and public costs associated with Kevin Spacey’s indiscretion.
According to Forbes, when Spacey was fired from House of Cards, he lost $6.5 million in earnings. The allegations have caused him to lose half a million dollars per episode he made playing Frank Underwood.
In addition, MasterClass terminated Spacey’s contract as a teacher, meaning he would no longer receive the 30% share of revenue he had been promised. Furthermore, Netflix has halted production on a Gore Vidal biopic starring Kevin Spacey.
This project, which the streaming giant had invested heavily, would not be completed. As a result, he was no longer eligible for lucrative offers like his usual $2 million salaries for mid-range films and $5 million for high-profile movies.
Later in 2022, a judge ruled that the disgraced actor must pay nearly $31 million to House of Cards production company MRC for the s*xual assault event. In addition, even worse for Spacey and Netflix financially were the endorsement deals he had previously enjoyed.
Netflix’s $39 Million Blow
Netflix, which broadcast House of Cards, lost an estimated $39 million due to Kevin Spacey’s inappropriate behavior. According to CNN’s reporting, this sum paid for all content featuring Spacey. This includes House of Cards and the Gore Vidal biopic.
House of Cards’ production was halted unexpectedly, resulting in extra costs and delays as the show’s writers rewrote the entire series without Kevin Spacey’s character. Losing post-production money and disappointment over the film’s potential earnings were additional consequences of the cancellation of Gore.
In addition to the cost overruns on these productions, Netflix likely overspent on other projects that would have included Spacey. Canceling House of Cards caused this financial setback for the streaming giant, the dropping of the Gore Vidal biopic, and the inability to use Spacey in other projects. With one of its most prominent actors leaving, Netflix had the unenviable task of dealing with the fallout and reshaping its TV shows’ lineup.
Source: CNN
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