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The Netflix Cha-Cha (lemmy.world)

submitted 10 months ago by Stamets@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] doctorcrimson 0 points 10 months ago

Technically, it isn't burning any money, it's all a tax write-off and they don't necessarily have any profit to report to the IRS. The US Film Industry has always been like that: employ all your friends, keep the money flowing, buy nice houses for the shareholders and producers, then pull the rug on anybody who worked for "percent of net profit/earnings." Hollywood accounting, they call it.

A lot less funny with all the context.