As the adage goes: everything in life comes at a certain price. Whether in the form of effort, sacrifice, or compromise, the currency of existence demands its due—though the returns don’t always measure up. A realm in which the principle rings consistently true is the world of investing, a domain in which one’s fortunes can swiftly fluctuate between gain and loss in a fraction of a moment. The most recent example of this financial rollercoaster unfolds with the American streaming giant Netflix, which reportedly spent $55 million on a series that will most likely never see the light of day.
Rewind to 2018, a time when nearly all video-on-demand platforms waged a fierce battle to acquire the rights to Carl Erik Rinsch’s upcoming cinematic brainchild. The American filmmaker, who hadn’t yet proven his worth in the industry, had initially inked an informal eight-figure-deal with Amazon Prime to produce his next venture. Dubbed Conquest, the plot was poised to center around a “genius who invents a humanlike species called the Organic Intelligent.”
However, before both parties were able to seal the deal, Netflix representatives swiftly entered the bidding war, offering the 47 Ronin director with final cut rights, whilst also outbidding their competitors with a higher budget that surpassed their rivals. With contracts signed and a green-lit pitch, anticipation was high for the imminent debut of the program on screens. Five years on though, Netflix and its subscribers are still awaiting even just a glimpse of the promised show.
According to a recent report by the New York Times, not a single episode has been completed in the past five-years since the deal was first inked. What’s more, Rinsch has allegedly spent a large portion of the funding on miscellaneous luxury items, ranging from sports cars, watches, designer clothing, and high-end furniture. Not only that, but the report also claims that the England-born director had sought additional funds than the initial agreed-upon fee to bring his science-fiction piece to life — the request was somehow accepted and allegedly set the streaming site back by an additional $11 million dollars.
Three years after the deal was made, Netflix eventually pulled the plug on the project in March 2021, notifying Rinsch they would discontinue further funding his adventure. Today, both parties are embroiled in a legal dispute, initiated by the filmmaker, who claims that the streaming service has breached their contract on multiple occasions, and owes him at least $14 million in damages and unpaid invoices—allegations that Netflix vehemently denies.
