Netflix paid a director $55 million for a show that never got made. Most of it was spent on Rolls Royce cars, two very expensive mattresses and staying at the Four Seasons hotel.
This news comes in the wake of price rises where Netflix has hit $24.99 a month for it’s top end tier, which is a 66% jump in the last five years.
The news of this Netflix flutter lands as federal prosecutors deal with the case against director Carl Erik Rinsch, who was arrested on Tuesday. He stands to be charged with wire fraud, money laundering and more.
The Netflix invested money was supposed to be used to create a show called White Horse, or Conquest – it didn’t get that far. In reality Rinsch allegedly spent $2.4 million on five Rolls Royce cars and a Ferrari, $1.8 million to pay credit card bills, $638,000 on two mattresses, $395,000 to stay in the Four Seasons hotel, $652,000 on watches and clothes.
He even spent $1 million on lawyers to sue Netflix so that he could get more money, and pay for his divorce.
Rinsch, director of 47 Ronin, pitched his new sci-fi show – with Keanu Reeves’ backing – to Amazon in 2017, but Netflix swooped in offering him $44 million up front.
After claims that he had discovered COVID-19’s secret transmission mechanism, and that he could predict lightning strikes, he wanted more money. So, 18 months on, he asked Netflix for a further $11 million, and it was allegedly sent to his production company account. After transferring to his personal account he spent plenty but also invested in cryptocurrency and, prosecutors say, he made money.
Netflix declined to comment on the story, and a message left with Rinsch’s attorney wasn’t immediately returned.
The cost to customers has steadily increased over the years, from $11.99 for the premium plan in 2013 to the current $24.99 top-end option in 2025. That’s a 108% increase over the 12 years.
