Prince Harry, Meghan Markle compared to Obamas as new Netflix deal signals they've taken a 'bad hit'

Yahoo

2 days ago

Meghan Markle and Prince Harry's Netflix partnership was extended Monday with a multi-year, first-look deal for film and television projects through Archewell Productions.
While the deal began in 2020 and now includes five Sussex-branded media projects in addition to Markle's As Ever lifestyle brand, experts questioned if the extended partnership with the streaming giant signaled a downward trend for the royals.
Despite the success of her recent "With Love, Meghan" series, The Hollywood Reporter claimed the Netflix change mirrored the "downgrade" the Obamas experienced with the streamer and their Higher Ground banner.
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"We're proud to extend our partnership with Netflix and expand our work together to include the As ever brand," Markle said in a statement provided to Fox News Digital.
"My husband and I feel inspired by our partners who work closely with us and our Archewell Productions team to create thoughtful content across genres that resonates globally, and celebrates our shared vision."
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Royal expert Richard Fitzwilliams told Fox News Digital that the new Netflix deal was "a clear sign that the Sussexes are not A-listers and that, despite the appeal of their brand, they have taken a bad hit."
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"There clearly is no repeat of the reported $100 million Netflix offered before. This first-look deal is certain to be less, probably a good deal less. It is true that Netflix continues to link with As Ever, Meghan's lifestyle brand, and that may be the most commercially successful part of this new arrangement."
According to The New York Times, citing a source, the deal is indeed reportedly worth less for Harry and Meghan than their last arrangement with Netflix.
Meanwhile, Fitzwilliams added, "If you don't do much you don't deserve much, and we've been reading about how they will adapt 'Meet Me At The Lake' for ages."
In August 2023, the couple purchased the rights to Carley Fortune's best-selling romance novel, "Meet Me at the Lake," and had plans to make the page-turner into a feature film. It is reportedly still in the works.
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"Meet Me at the Lake" has a storyline that resembles Prince Harry's life, and follows a 30-something woman who finds love in a hopeless place following the tragic loss of her mother, who died in a car crash. Fern, the novel's main character, returns to her mom's lakeside resort in Canada to figure out a plan for her life, only to reconnect with a long-lost love with a penchant for expensive suits named Will.
While Fitzwilliams believed the updated Netflix deal was "a bad hit" for the royal couple, branding expert Doug Eldridge told Fox News Digital that the new agreement isn't uncommon in the entertainment industry.
"While it appears like a negative downgrade on first pass, that's akin to reading only headlines versus the fine print," Eldridge said. "In other words, Harry and Meghan still have several other creative projects with Netflix, as well as an expanded relationship around the As Ever lifestyle brand. The latter will be a revenue generator for both sides, which is difficult to create (much less sustain) around traditional reality television.
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"This might not be a home run for Markle, but it's certainly not the strikeout critics might have been hoping for."
Eldridge noted that the couple could have faced a bigger setback if they had "placed all their eggs in the reality/pseudo-doc category."
"I'm not sure what the market looks like, in terms of a would-be bidding war, now that the exclusivity clause is set to expire," Eldridge explained. "That said, just like the boosters and fuel tank eventually fall off the space shuttle as it ascends into orbit, so too might be the case with Harry and Meghan, as they climb higher to their bigger, broader, vision."
"If this series was what was required to get them into orbit, then it was certainly a win, as they are now able to explore the 'deep space' of other ventures, which are not only intellectually more diverse, but also don't require them to be the 'name and face' behind the product itself."
Still, royal expert Ian Pelham Turner said the Netflix shift alluded to unanswered questions about the couple's future branding potential from within the streaming giant.
"Obviously, Netflix feels that Harry and Meghan are losing brand value based on their current standing," Turner told Fox News Digital. "However, the streaming giant may have made a fundamental mistake in that the isolated position the couple are currently in could rapidly change if negotiations [return] to the U.K."
"Perhaps there could be a new approach of them becoming royal ambassadors in America," Turner stated, noting that "it could see their brand value soaring."
For now, season two of "With Love, Meghan" will premiere this month, and a special holiday episode will air in December.
"Harry and Meghan are influential voices whose stories resonate with audiences everywhere," Bela Bajaria, Netflix's chief content officer, said in a statement. "The response to their work speaks for itself — Harry & Meghan gave viewers an intimate look into their lives and quickly became one of our most-watched documentary series."
"More recently, fans have been inspired by With Love, Meghan, with products from the new As ever line consistently selling out in record time. We're excited to continue our partnership with Archewell Productions and to entertain our members together."Original article source: Prince Harry, Meghan Markle compared to Obamas as new Netflix deal signals they've taken a 'bad hit'
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