Netflix Cuts Ties with Prince Harry and Meghan Markle's Top Executives Amid Cost-Cutting Measures
The streaming giant is reportedly ending deals for projects with 'zero financial return' and shifting focus away from 'royal-linked vanity projects'.
Prince Harry and Meghan Markle have seen their key advocates depart Netflix as the streaming service undergoes significant cost-cutting, leading to the cancellation of projects that were not generating sufficient financial returns. Two executives described as the couple's 'human shields' have left the company, signaling a potential shift in the streaming giant's strategy away from what a source called 'royal-linked vanity projects'.
Carolina Garcia, the Netflix executive who managed the relationship with Harry and Meghan's Archewell Productions, has departed after a decade with the company. Simultaneously, Bela Bajaria, who had previously described the relationship with the Sussexes as 'amazing,' has also left. Their departures come as Netflix lays off approximately 1,000 employees globally.
An insider suggested that Harry and Meghan's projects may have been affected by the need to make cuts on decisions with "zero financial return," adding, "I suspect that Harry and Meghan were part of that because people are not going to subscribe to see a Meghan show."
Under the new leadership of chief content officer Peter Rice, Netflix is expected to prioritize finding the next major hit, similar to 'Stranger Things' or 'Emily in Paris,' over what is perceived as less commercially viable content tied to royal figures.
Meghan's lifestyle show, 'With Love, Meghan,' was not renewed, and her previously announced polo series with Harry also reportedly failed to gain traction. Despite these developments, Netflix is still reportedly interested in a potential documentary from Harry about his mother, Princess Diana, ahead of the 30th anniversary of her death.
Reports also surfaced regarding Meghan's potential involvement in the series 'The Gentlemen,' a show by Guy Ritchie. While speculation suggested she was in talks for a role, sources close to the production have dismissed these claims, with one insider stating the series did not require 'stunt casting.' Some reports indicated that the Duchess of Sussex felt "used" by the publicity surrounding these potential talks, viewing it as a PR tactic to generate interest in the show's new season.
Meghan, who previously starred in the legal drama 'Suits,' has expressed intentions to return to acting. She is said to be more selective about future scripts, particularly after the controversy surrounding 'The Gentlemen.' While she made a cameo appearance in the upcoming film 'Close Personal Friends' and appeared as a guest judge on 'MasterChef Australia,' any significant acting role is anticipated to attract considerable attention and potentially significant financial returns from a platform like Netflix or Amazon.
Prince Harry and Meghan Markle signed a five-year deal with Netflix in 2020, reportedly valued at $100 million. However, the deal lapsed last year following mixed reviews for Meghan's lifestyle show and its failure to reach the top ten in viewership charts in the UK or US.