Meghan Markle and Prince Harry‘s new Netflix deal is a ‘downgrade’ and more of a ‘we’ll call you’ than ‘here’s the chequebook’, experts have claimed.
The couple signed a new ‘multi-year, first look deal for film and television projects’ with the streaming giant – understood to be worth less for the pair than their previous contract.
The ‘first-look’ arrangement means Netflix can say yes or no to new film or television projects before anyone else – allowing them to pick and choose what they invest in.
PR expert Mark Borkowski described the new deal as a ‘downgrade’, claiming it falls a long way from the jackpot figure of Harry and Meghan’s original contract in 2020.
He told the Daily Mail: ‘I think Netflix has done a very neat job of pivoting away from two very expensive people who didn’t deliver, and they’ve taken that deal off the table, and they’ve given them a modest one.
‘It’s not like they’re gradually uncoupling – it’s a downgrade. Netflix are not going to expose themselves to those budgets again. It’s Netflix saying, “Let’s have a look at your content, but we’ll pick and choose, mate”.’
He believes the pair will be paid for each production selected by Netflix rather than receiving an overall fee, such as the reported $100million of their first deal.
‘I would be surprised if it’s not pay-as-you-go and it’s well, well below that first mark,’ he added.
Prince Harry and Meghan at the ESPY Awards at Dolby Theatre in Hollywood in July 2024
The Duchess of Sussex in her Netflix series With Love, Meghan which came out in March
The couple’s new output will include a second season of the Duchess’s ‘With Love, Meghan’ lifestyle show later this month, as well as a Christmas special in December.
The Sussexes are also working on ‘Masaka Kids, A Rhythm Within’ – a documentary about orphaned children in Uganda, where the ‘shadows of the HIV/Aids crisis linger’.
There is also ‘active development’ on other projects with Netflix which ‘span a variety of content genres’, including an adaptation of romantic novel Meet Me At The Lake.
But Mr Borkowski said the couple will not be granted the same budget as they were under their previous contract with the streaming service.
‘They have shot the golden goose of 2020 – more of a “we’ll call you” than “here’s the chequebook”,’ he said.
‘It’s a first-look deal, which means Netflix gets first dibs but no obligation to bankroll every semi-royal whim.
‘I reckon Netflix is trimming fat industry-wide, so this is less carte blanche, more curated cameo.
‘They’re still in business together – Meghan’s. As ever brand and seasonal specials keep them in the Netflix shop window but make no mistake, this is a slimmed-down sequel to the blockbuster original. So Harry and Meghan’s new Netflix chapter [is] less champagne budget, more Prosecco by the glass.’
The couple’s new output will include a second season of the Duchess’s ‘With Love, Meghan’ lifestyle show later this month, as well as a Christmas special in December
Netflix has already released the first series of With Love, Meghan as well as Polo, Heart of Invictus, Live to Lead and the couple’s bombshell documentary Harry & Meghan as well as being a business partner on Meghan’s lifestyle brand, As Ever.
Five years ago, Harry and Meghan secured a lucrative contract thought to be worth $100million (£74million) with Netflix after quitting as senior working royals in 2020.
The renewed deal was described by the Sussexes – who made the announcement with Netflix – as ‘extending their creative partnership’ through Archewell Productions.
But the new terms are understood to be worth less for Harry and Meghan than their previous contract, according to a person familiar with the deal, and represent Netflix loosening its ties with the couple.
In a statement, Meghan said: ‘We’re proud to extend our partnership with Netflix and expand our work together to include the As Ever brand.’
Netflix chief content officer Bela Bajaria said: ‘We’re excited to continue our partnership.’
