Meghan Markle and Prince Harry’s $100 million multi-year contract with Netflix reportedly won’t be renewed when it expires in September.
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According to The Sun, the Duke and Duchess of Sussex previously signed the contract in 2020. However, Netflix has no plans to extend the deal with the royal couple.
A source with knowledge of the situation told the media outlet that the deal is done and no more shows will be made about the couple’s lifestyle.
“Netflix feels they’ve got all they can from the couple,” they said. “Netflix were clever in that they got a hell of a lot of viewers for the first documentary series and knew, realistically, it would prove the zenith of content from the Montecito pair.”
The insider further pointed out that Meghan Markle and Prince Harry are not unhappy about the Netflix contract not being renewed. “They got those initial hits, and produced one of the most talked-about shows of all time. The content got weaker from there on, but, frankly, for £20million a year, anything is better than nothing.”
There Is “No Animosity” Between Netflix and the Couple
The source then said that there was “no animosity” from either side. “Things have just run their course,” they noted. Netflix execs are well aware Meghan’s priority is her own brand, and they won’t play second fiddle to that.”
Regarding publicity aspects, the insider stated that there will be no announcement about the end of the contract. “Of course, if things change dramatically, they’d be open to a one-off project down the line,” they noted. “But for Harry, especially, this will be a blow. It’s a huge loss of revenue.”
The source suggested fellow streaming service Paramount+ may be interested in working with Meghan Markle and Prince Harry following the end of the Netflix contract.
During their time on Netflix, Meghan Markle and Prince Harry did numerous series and documentaries. Among them are Live to Lead, Heart of Invictus, Polo, and With Love, Meghan. Although their contract isn’t being renewed, some projects, including With Love, Meghan, are in development.
With Love, Meghan premiered earlier this year and ranked tenth on Netflix’s global Top 10 Shows Overview List. It has 2.6 million and 12.6 million hours watched.