Some rare bad news for Meghan Markle this week, as Netflix has pulled the plug on a planned collaboration with the Duchess.
Meghan and Prince Harry signed a $100 million deal with the streaming giant shortly after they stepped down as senior members of the royal family.
These days, of course, Netflix has fallen on hard times after losing subscribers for the first time in a decade.
The announcement led to plummeting stock prices, with the company losing half its value in a matter of days.
For several months now, we’ve been hearing rumors about Meghan and Harry’s failure to produce any content for Netflix.
And while there have been conflicting reports about why we’ve yet to see a streaming show with the Sussexes’ names in the credits, those reports appear to be immaterial now.
Page Six and other outlets have reported that Netflix has officially canceled an animated series on which Meghan was to serve as executive producer.
The show was to focus on the adventures of a 12-year-old girl who would draw inspiration from the example set by famous women throughout history.
There’s been no official word on exactly why Netflix decided not to go forward with the project, but budgetary concerns were likely an issue.
The company’s recent troubles began with a disappointing earnings report in January and subsequent rumors that subscription rates would be raised.
In recent weeks, Netflix has indicated that it plans to crack down on password sharing and offer a cheaper, ad-supported option for subscribers.
All of these developments seem to indicate that the company has struggled to keep pace as the streaming market became more crowded in recent years.
Of course, the British tabloid press will likely take a very different tack on this story.
Eternally frustrated by Meghan’s global popularity, many UK journalists are forever on the hunt for signs that the Duchess is falling out of favor.
They’ll no doubt have a field day with news of the cancelation, and overseas coverage will likely make little mention of the fact that Netflix is foundering and has pulled the plug on numerous projects in recent weeks.
There’s also been controversy surrounding Harry and Meghan’s Spotify deal, as the Sussexes have not yet delivered on the original content they promised back in 2020.
But that seems to be a result of the couple taking on too much and stretching themselves too thin.
If anything, the fact that Harry and Meghan have struggled to produce as much content as distributors would like is an indication that they’re more in-demand than ever.
As a second streaming deal goes bust, however, the headlines in London are sure to be decidedly unflattering.
The Sussexes are still involved in several lucrative business deals and humanitarian projects, of course.
Last month, they traveled to the Hague for the Invictus Games, stopping along the way to visit the Queen.
The trip marked Meghan’s first trip to the UK in two years.
Insiders say Elizabeth decided to invite Harry and Meghan to her Platinum Jubilee in June, a move that’s frustrated critics of the couple.
And sadly, that’s all the more reason that the haters will delight in the news of Meghan’s canceled Netflix project.
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