Wednesday, January 24, 2018

Netflix Writes Off $39M In Abandoned Projects

Damn, wouldn't that be nice to be able to write off $39 million.

Despite record subscriber additions, Netflix has announced that it has taken a $39 million write-down on its Q4 2017 earnings. Netflix CFO David Wells says the write-down is due to a certain high-profile project that they have “decided not to move forward with” and the project’s cut is “related to the societal reset around sexual harassment.”