Netflix Axes Projects Tied to Prince Harry and Meghan Markle
Streaming giant reportedly ends deals for 'royal vanity projects' with 'zero financial return' amid significant layoffs.
Netflix has reportedly ended its production deals with Prince Harry and Meghan Markle, citing projects with "zero financial return" as the streaming service undergoes significant cost-cutting measures. Two key executives described as the couple's "champions" at the company have departed, signaling a potential shift in content strategy.
Carolina Garcia, the Netflix executive who oversaw the relationship with Harry and Meghan's Archewell Productions, has left after a decade. Additionally, Bela Bajaria, another executive who had described the company's relationship with the Sussexes as "amazing," has also departed. An insider suggested that these departures are part of a broader restructuring, with decisions being made that lacked financial viability.
"I suspect that Harry and Meghan were part of that because people are not going to subscribe to see a Meghan show," a Netflix insider told the Daily Mail. The streaming giant has recently laid off approximately 1,000 employees globally as part of its cost-cutting efforts.
New chief content officer Peter Rice, who is British-born but based in Los Angeles, is expected to lead a new direction for Netflix's content. Sources indicate a focus on finding the next major hit, such as "Stranger Things" or "Emily in Paris," rather than "royal-linked vanity projects."
Meghan's lifestyle show, "With Love, Meghan," was not renewed. Her previous five-year deal with Netflix, signed in 2020 with a reported value of $100 million, lapsed last year. The show reportedly received mixed reviews and failed to reach the top ten in either the UK or the US.
Meghan has expressed interest in returning to acting. However, speculation surrounding a potential role in Guy Ritchie's series "The Gentlemen" led to a backlash in the UK. Sources close to Meghan claimed she felt "used" by producers who allegedly leaked her potential involvement to generate publicity for the show, a claim rejected by those connected to the production.
Despite these developments, Netflix is reportedly still interested in pursuing a documentary project with Prince Harry about his mother, Princess Diana, ahead of the 30th anniversary of her death.
Meghan, who previously starred as Rachel Zane in the legal drama "Suits" for seven seasons, stepped away from acting after marrying Prince Harry. While she has recently made a cameo appearance in the upcoming film "Close Personal Friends" and served as a guest judge on "MasterChef Australia," she has previously stated her intention not to return to acting.
Netflix has been approached for comment, and the Duchess of Sussex declined to comment.