The billion-dollar Netflix-funded series that never saw the light of day
In 2018, Netflix decided to make a risky move and invested a whopping $55 million in a sci-fi series directed by Carl Rinsch. Despite its previous mediocre success with “47 Ronin,” the series about artificially created beings was considered a potentially attractive project. Unfortunately, however, it turned out to be one of the worst decisions in the streaming service’s history.
According to revelations by The New York Times, some of the funding Netflix put into the project ended up being extremely inappropriate. Director Rinsch spent the money on cryptocurrencies, stocks, Rolls-Royce luxury cars and even furniture and expensive clothes. His behavior became wild, he claimed to have the ability to predict lightning strikes and even discovered the secret “transmission mechanism” of covid-19.
The situation culminated in the cancellation of the entire project, which is now one of the biggest flops in Netflix history. Today, Rinsch and Netflix are embroiled in a legal dispute, with the director claiming the streaming giant violated the terms of the contract and owes him at least $14 million.
This episode not only shows the precariousness of the movie industry, but also reveals that the golden era of gaining new subscribers for streaming services may be coming to an end. Investors are now pushing harder to generate profits, which may have major implications for the strategies and decisions of similar platforms in the future.
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