PRINCE Harry and Meghan Markle signed for their latest Netflix deal for “much less” than previously as they no longer in a strong position, a royal expert has said.
The couple announced today they had signed a new “multi-year, first look deal” with the American streaming giant to produce “film and television projects”.
Prince Harry and Meghan Markle have signed a fresh deal with Netflix[/caption]
Their multi-year deal with the streaming giant, signed in 2020, comes to an end this year[/caption]
An insider has claimed the couple have signed a deal for ‘much less’ than they did in 2020[/caption]
The Duke and Duchess of Sussex have previously released a number of shows on the platform, including a 2022 documentary on their lives and Meghan’s lifestyle show With Love, Meghan this year.
They had secured a lucrative five-year contract – thought to be worth more than $100 million (£74 million) – with Netflix after quitting as senior working royals in 2020.
However, this new deal has been signed for “much less”, an insider told Page Six.
Adding to this, Royal Biographer Hugo Vickers told The Sun the couple were “not in a strong bargaining position” when agreeing to the new partnership with Netflix.
He added that Netflix signed the deal due to the “publicity” the company would get from showcasing the royals on its platform.
Hugo said: “I don’t think the Sussexes would have been able to pressurise them [Netflix] because they’re not in a very strong bargaining position.
“Netflix will have figured out they will be getting publicity from the shows.”
This weakened position could have led to a cheaper deal being signed as well as the introduction of a “first look” clause in the agreement.
It means Netflix will only pay for projects they want to screen, rather than pay in a single multi-million pound agreement like the one signed in 2020, The Sun understands.
The Sun can also reveal, however, that the streaming giants will cover Archewell Productions’s overheads, including all costs for its offices and staff.
Netflix will also have to fork out to the couple to have the exclusive first look on their projects.
Hugo hinted that the deal could also be part of the nature of Harry and Meghan’s need to remain in the public eye in their new lives – in order to keep income flowing to their “expensive lifestyles”.
The royal expert said: “I suspect that they lead a very expensive life.
“They have to keep going as once the money runs out, and if their popularity runs out, they could be in trouble.”
It is not yet known how much the new extended deal will bring in for the couple, or how long it will last.
Meghan said in a statement today: “We’re proud to extend our partnership with Netflix and expand our work together to include the As Ever brand.
“My husband and I feel inspired by our partners who work closely with us and our Archewell Productions team to create thoughtful content across genres that resonates globally, and celebrates our shared vision.”
On top of Season 2 of With Love, Meghan – which will drop later this month – the couple will also film a “Holiday Celebration” Christmas special this December.
“Join Meghan in Montecito for a magical holiday celebration,” the announcement read.
“Together, friends and family deck the halls, create holiday feasts, craft heartfelt gifts, and share lots of laughs – with simple how-tos to follow at home. It’s a holiday wonder with warmth, tradition, and a generous dose of joy.”
The couple will also release a short film called “Masaka Kids, A Rhythm Within” which will look at Uganda’s Masaka region and the HIV/AIDS crisis there.
This has echoes of Harry’s mum Diana’s work, who pioneered social change on perceptions of HIV/AIDS.
‘Meghan & Harry need to come up with a hit soon’
By Matt Wilkinson
JUST when you thought it was safe to turn the telly on again… Harry and Meghan are back. And their multi-year renewal with Netflix means they are not going away anytime soon.
There have been tense negotiations in recent weeks but Netflix is so deeply involved with Meghan’s As Ever brand it was always likely that the streaming giants would want them back.
Make no mistake, Harry and Meghan would have been desperate for the deal to be renewed. They will likely be opening a bottle or two of As Ever Rose in Montecito.
Because they have invested heavily in Archewell Productions and getting on board with Netflix is central not only to their post-Royal endeavours but more importantly crucial to their bank accounts.
If they lost their Netflix money then how could they afford their life in the US?
While the length of the deal or how much the couple are getting paid is vague we do know that Meghan will appear in a ‘holiday special’ in December that will likely clash with the Princess of Wales’s annual Christmas carol concert at Westminster Abbey.
And finally, two years after I revealed in The Sun the couple had bought the rights to the book Meet Me At The Lake, production is in active development.
Sources close to the couple are coy about whether Harry or Meghan will appear on screen for the production of Masaka Kids, A Rhythm Within which will air later this year.
But perhaps the best piece of news from the announcement is no repeat of the six-part documentary which dumped on the Royal Family.
However, ‘Harry & Meghan’ was a ratings dream and none of their projects since have been anywhere as successful. They need to come up with a hit soon.
And this ‘first look’ deal means Netflix has the first option on new projects from the couple without any guaranteed commitment.
But remember the Sussexes are not the only Royals to be in bed with Netflix.
The King will feature in a documentary on The King’s Foundation with Idris Elba.
In 1987, Princess Diana opened the UK’s first purpose built HIV/AIDS unit at Middlesex Hospital in London.
She famously shook the hand of a man suffering with the illness without gloves, publicly challenging the idea that HIV/AIDS was passed from person to person by touch.
There is also “active development” on other projects with Netflix which “span a variety of content genres”, including a feature adaptation of the bestselling romantic novel by Carley Fortune, Meet Me At The Lake.
Bela Bajaria, Netflix’s Chief Content Officer, said: “Harry and Meghan are influential voices whose stories resonate with audiences everywhere.
“The response to their work speaks for itself — Harry & Meghan gave viewers an intimate look into their lives and quickly became one of our most-watched documentary series.
“More recently, fans have been inspired by With Love, Meghan, with products from the new As Ever line consistently selling out in record time.
“We’re excited to continue our partnership with Archewell Productions and to entertain our members together.”
The Sun has reached out to the Sussexes for comment.
