INTERNATIONAL NEWS - The media streaming company said it was "deeply troubled" by the allegation, made by the actor Anthony Rapp.
In an interview with Buzzfeed, Rapp alleged Spacey tried to seduce him when he was 14, after a party in 1986.
Spacey said he was "beyond horrified" to hear the story but did not remember the encounter.
Kevin Spacey said he owed Anthony Rapp a "sincere apology" for what he said would have been "deeply inappropriate drunken behaviour".
Spacey also announced that he was now living "as a gay man" but the Oscar winning actor has been widely criticised for choosing this moment to come out.
