According to The Financial Times, Netflix recently took a bath for $39 million thanks to the fallout from severing its working relationship with actor Kevin Spacey. The report first hit the web on Monday, with the streaming giant relating to investors that it took an “unexpected” $39 million charge for content that “we’ve decided not to move forward with.”

A source later told CNNMoney that the charge is entirely from costs associated with ending House of Cards and cancelling the release of Gore, which was in post-production. The decision to end its working relationship with Spacey occurred almost immediately following the very public airing of sexual misconduct claims against the acclaimed actor.

Beyond the $39 million loss, however, Netflix still managed to exceed earnings estimates and finish the year with a quarter-record 8.3 million new subscribers, for a grand total of 118 million around the globe.

  • Photography:Getty Images / Theo Wargo
Director of Content Strategy

Brock Cardiner is Highsnobiety's Director of Content Strategy. He oversees Highsnobiety's editorial approach across platforms & mediums. Brock splits his time between Berlin, Los Angeles and New York.

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