Louis C.K. may not be $53 million in debt like Kanye West, but he's still in pretty deep. C.K.—who recently let on that he's probably done with Louie for good, even if you're not—made the revelation on The Howard Stern Show today while promoting his show Horace and Pete, the reason why he's $2 million in debt.
Horace and Pete, starring C.K. and Steve Buscemi, was written, directed, produced, distributed, and financed by C.K. He released the first episode of the 10-episode series on his website unannounced at the end of January.
According to Vulture, C.K. set out to use $2 million of his own money for the first four episodes of Horace and Pete expecting to make that money back in order to pay for the rest of the season. This was the plan as C.K. made episodes of Horace and Pete available weekly for audiences to purchase. The first episode was $5, while the second was $2, and every episode after that was $3.
C.K. explained just how expensive the show was costing him in a email to his website subscribers.
"But Horace and Pete is a full on TV production with four broadcast cameras, two beautiful sets and a state of the art control room and a very talented and skilled crew and a hall-of-fame cast," C.K. wrote. "Every second the cameras are rolling, money is shooting out of my a****** like your mother's worst diarrhea. (Yes there are less upsetting metaphors I could be using but I just think that one is the sharpest and most concise). Basically this is a hand-made, one guy paid for it version of a thing that is usually made by a giant corporation."
But that didn't pan out, and now, as Vulture reports, C.K. is trying a last ditch effort to promote the show (by making appearances like his Stern one).
"I had to take out a line of credit," C.K. told Stern. "I'm not a wealthy guy. I don't have a ton of money saved up."
Fear not though, C.K. is confident Horace and Pete will break even in the coming months.
"By the summer, the whole show will have paid itself off, based on how it's selling now. I know this like a science now," said C.K.
What are you waiting for? Go buy Horace and Pete here.