In court documents from a 2005 case released yesterday, comedian Bill Cosby admitted to buying Quaaludes for the purpose of drugging and having sex with young women, as reported by the AP. While that case has been settled, these documents could serve as evidence for the more than dozen women who have accused Cosby of similar misdemeanors—allegations Cosby has previously denied.
While the revealing statements are a win for those who allege the TV star and comedian—who has never been criminally charged—sexually assaulted them, it is a loss for Cosby in many ways. In addition to the possibility of criminal charges, he now stands to lose millions.
Prior to the flood of sexual-assault allegations that began late last year, Cosby had a lucrative career. He was not only still receiving syndication dollars for reruns of The Cosby Show, but also toured, made various appearances and had TV deals in the works.
The syndication dollars were some of the first to go. Cosby, who both starred in and served as a creator of The Cosby Show, was likely making millions from reruns. The show was airing on BET and regularly on TV Land, both owned by Viacom, when women began to come forward with allegations, and both networks had dropped the show by the end of 2014.
In November, NBC also pulled the plug on Cosby, cancelling an upcoming sitcom he was starring and producing in. During the summer of 2014, the network made a deal estimated to be worth seven figures without even seeing a script. Last Man Standing, ABC’s similar project featuring a veteran comedian, paid star Tim Allen an estimated $5 million a season – Cosby’s earnings would likely have been at least equivalent.
The last part of Cosby’s money-making machine to stay afloat has been his touring: Despite many calls to cancel his current Far From Finished tour, Cosby continued with the shows until the tour’s end in May—needless to say, the performances pulled in smaller audiences and fewer dollars than expected. Had the tour taken place before the allegations, it would have likely been much more lucrative. During the year preceding the allegations—between November 2013 and November 2014—Cosby made at least $7 million from touring, a number that would have likely been repeated or increased with Far From Finished.
And this is disregarding any potential earnings from specials and appearances. Cosby had a Netflix special that was supposed to air in November, but has since been indefinitely postponed. While he was paid for this, he will now miss out on similar opportunities in the future. A conservative estimate would have Cosby making a minimum of $200,000 per special, on par with what a much lesser known TV actor would make per episode.
Totaled, that means the scandal has cost Cosby a hefty price tag of over $10 million. Of course, this pales in comparison to the alleged damages claimed by his accusers. But until their cases are settled in the court of law, at least the alleged victims can rest assured the industry has punished him.
