Comedian Louis C.K. has revealed that his recent web series “Horace and Pete” has left him several million dollars in debt.
The series, set around a family-owned bar in Brooklyn and starring the likes of Steve Buscemi, was posted online without notice in January and the last of ten episodes was released April 2nd. Louis C.K. made a personal investment of $2 million in the series and hoped web revenue would make it back – it hasn’t worked out that way.
Speaking on Howard Stern’s radio show, the comedian said: “I’m millions of dollars in debt right now. I got so excited about having the show appear from nothing. So I made the first four, and I didn’t tell nobody and it made a nice little amount of money. When I got to episode four, I was like, ‘Hey gang, I don’t have any money.’ So I had to take out a line of credit.”
The “Louie” star now has no choice but to hit the promotional circuit hard which is why he was on Stern and is on late night talk shows throughout this week. C.K. says he hopes that show will have “paid itself off” by the summer.