Prince Harry news: Duke and Meghan Markle ‘not handed $ 100m’ for Netflix deal | Royal | News

After quitting royal duties back in 2020, the Duke and Duchess of Sussex pursued a number of commercial opportunities. Meghan and Harry launched Archewell Productions in the fall of that year to produce programming that “informs, elevates, and inspires”.

They signed a deal with Netflix to create a number of different types of programs including documentaries and children’s TV shows.

While no specific sum has been revealed, it is speculated that the deal is worth around $ 100m (£ 72m).

However, a Los Angeles based TV and film consultant, who has worked with Netflix on projects, understands that the “$ 100m deal figure” is a “not quite the whole picture.”

They claim that Meghan and Harry would “not be handed one hundred million”, and instead the sum they receive upfront is more likely to be “a couple of million”.

This sum is expected to be used to “produce ideas, concepts and film pilots”.

The entertainment source noted that Meghan and Harry would have needed to provide a breakdown of “fees for all aspects of the making of the show” and a “broad understanding” of the profits Netflix would make.

The Sun quotes the source as saying, “On the surface, this large sum seems enormous, but the truth is that their deal is all about budgets when shows get commissioned.

“Sure they may have a couple of million in an advanced development deal to produce ideas, concepts and film pilots, but they have not been handed one hundred million.

READ MORE: Meghan and Harry branded ‘naive’ for thinking Pearl would be a hit

Harry is serving as executive producer for a documentary called Heart of Invictus.

It follows competitors who took part in this year’s Invictus Games, the sporting event for military servicemen and women launched by the Duke in 2014.

This year the Games took place in The Hague after being canceled for two years due to the pandemic.

Meghan and Harry traveled to the Netherlands to attend and were pictured taking part in different activities, delivering speeches and interacting with those competing.

Meghan, on the other hand, was due to serve as executive producer for an animated series with the working title Pearl.

However, the project was among a number of titles scrapped by Netflix recently as part of cost-cutting measures.

Pearl was still in its development phase and was axed alongside two other animated kid’s shows Dino Daycare and Boons and Curses.

The shutdown of the shows comes at the end of a week when Netflix suffered a massive subscriber loss, the largest in more than a decade.

The company also laid off about 25 people across its marketing operation and canceled its comedy Space Force after two seasons.

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