6 days ago
Why Meghan Markle & Prince Harry's New Netflix Deal Is Being Described as a ‘Downgrade'
Meghan Markle and Prince Harry are officially continuing their relationship with Netflix, but it has a new name. Long gone is the $100 million deal they nabbed in 2020; in comes a fresh term: 'creative partnership.'
The Hollywood Reporter described the multiyear, first-look deal as a 'downgrade,' but it is the same contract they gave Barack and Michelle Obama after their initial production deal ran out. The one notable aspect of the new partnership is that neither power couple is exclusively tied to Netflix — they can take their work elsewhere if the streamer passes.
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Meghan is also staying in business with the streaming network for her As Ever brand. '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 to the media outlet. '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.'
The Aug. 11 announcement was not surprising, and SheKnows even predicted that it would work out this way for the Sussexes in July. The British tabloids will try to spin this as a failure, when in reality, Hollywood is tightening up their budgets due to the rough economy, and Netflix isn't doing massive production deals anymore.
Netflix sounds happy to be in business with Meghan and Harry, describing them as 'influential voices whose stories resonate with audiences everywhere,' in a statement. The Sussexes even have a list of projects to come with the network, including Season 2 of With Love, Meghan, their romantic feature film, Meet Me at the Lake, and a short documentary, Masaka Kids, A Rhythm Within.
The news about Harry and Meghan aligns with what Netflix co-CEO Ted Sarandos has been saying all along because he is one of their biggest cheerleaders in Hollywood.
'We're a passive partner in Meghan's company, and it's a big discovery model for us right now,' Sarandos told Variety in March. 'I think Meghan is underestimated in terms of her influence on culture. When we dropped the trailer for the Harry & Meghan doc series [in 2022], everything on-screen was dissected in the press for days.'
He continued, 'The shoes she was wearing sold out all over the world. The Hermès blanket that was on the chair behind her sold out everywhere in the world. People are fascinated with Meghan Markle. She and Harry are overly dismissed.'
Harry and Meghan are still in business, so every critic who predicted their demise might need to find a new narrative.
Before you go, click to see more of Meghan Markle & Prince Harry's milestones since leaving the royal family.
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