Meghan Markle and her husband, Prince Harry, are reportedly embroiled in a new, fiery storm that could not have come at a worse time.
Page Six and PEOPLE Magazine have confirmed that Netflix has quietly canceled Prince Harry and Meghan Markle’s $100 million contract.
The deal, set to expire in September, will not be renewed because many of the Duke and Duchess of Sussex‘s projects did not deliver the hoped-for success.
A Hollywood insider told PEOPLE that Netflix also end the couple’s deal because of a dramatic shift in their business strategy.
According to a person with inside knowledge, Netflix executives were initially delighted with the content provided by Prince Harry and Meghan Markle. Their docuseries, Harry & Meghan, was the streamer’s most-watched documentary.
However, their subsequent content reportedly struggled, delivering one disappointment after another. A source said: “The deal is done; no more shows will be made. Netflix feels they’ve got all they can from the couple. Netflix was 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. They’re not unhappy with how things turned out — 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 £ 20 million ($27 million) a year, anything was better than nothing. There’s no animosity from either side. Things have just run their course.”
The source highlighted the stark reality: this is a significant financial setback for the couple, who must cover their annual security and mortgage costs.
The person claimed: “Netflix execs are well aware Meghan‘s priority now is her own brand, and they won’t play second fiddle to that. Publicly, there will not be a statement, and of course, if things change dramatically, they’d be open to a one-off project down the line. But for Harry, especially, this will be a blow. It’s a huge loss of revenue.”
Netflix’s decision to scrap Prince Harry and Meghan Markle’s contract came at a particularly difficult moment for the couple.
Meghan Markle and her husband, Prince Harry, are now facing a dual challenge: a significant financial setback following the loss of their Netflix deal, which coincides with efforts to restore a detente with King Charles III.
It is now being speculated that King Charles is reconsidering his decision to engage in peace talks with his son and daughter-in-law, who may soon find themselves in a tight financial spot.
Journalist and author Robert Jobson explained: “Well, the deal was always about $100 million. And the talk of that figure sort of blew a lot of people’s minds, but I think that was for productions and things that they’re supposed to have done. Where does it leave them? Probably with a bit of a bowl out, looking for some handouts.”
He added: “Maybe that’s why they were over with their staff, were over here having discussions with the King. I don’t know. The reality is in the past they got support from the King and the late Queen, and they said they were going to go and make their way. They can’t rely on the spare money forever, can they?”
Many believe that Meghan Markle will have to tell King Charles something she has never uttered before: that she does not need a handout from the royals and plans to remain financially independent.
Some view this unprecedented declaration as the only way King Charles and Prince William can truly trust that Prince Harry and Meghan Markle are genuinely interested in reconciling with the family, not for financial gain.
