Meghan Markle and Prince Harry have agreed a new deal with the streamer, but on less lucrative terms than their first.
Meghan Markle and Prince Harry have signed a new Netflix deal on different terms, sparking a debate about whether it represents a victory or a loss for the couple.
The Duchess of Sussex is preparing to drop the second season of her cooking show With Love, Meghan later in August.
And she was this week able to shoot down media rumors that Netflix were going to dump her with the announcement of a new multi-year contract.Why It Matters
The couple’s first Netflix deal, signed in September 2020, was worth a reported $100m and covered all projects produced over a five-year period. Its 2022 documentary Harry & Meghan retold the story of their move to the U.S., including their perspective on the royal rift and remains the streamer’s most-watched documentary debut.
The new arrangement is a « first-look deal » that gives Netflix first refusal on new projects. Some argue securing a second deal is for the couple a win in itself, after press reports suggesting the two sides were parting company. But while its financial terms have not been disclosed, the latest agreement is thought to be considerably less lucrative than the first, leading some to see it as a downgrade.What to Know
Meghan said that she and Harry were extending their deal for films and TV shows with Netflix on Monday, saying the couple were inspired to « create thoughtful content across genres that resonates globally, and celebrates our shared vision. »
U.K. brand and culture expert Nick Ede, who predicted in July that a first-look deal would be the likely outcome of negotiations, said after Monday’s announcement: « I see it as a win for Meghan and for Harry to have Netflix, it’s still one of the biggest outputters of entertainment, still backing them in this way.
« They’re still going to have some of their office costs paid for and development costs paid for », he told Newsweek.
Alongside the new deal, Meghan and Harry were able to announce a holiday special for With Love, due for release in December, as well as a new documentary, Masaka Kids, A Rhythm Within.
