Prince Harry and Meghan Markle’s new agreement with Netflix has been dubbed an “elegant way to cut ties” with the Duke and Duchess of Sussex if they do not deliver projects that the streaming company values, according to a source.
The Duke and Duchess of Sussex signed a highly lucrative deal with the streaming giant in 2020 after stepping down as working members of the Royal Family.
The agreement, valued at £75m over five years, had an expiration date of 2025.
On Monday, Prince Harry and Meghan Markle confirmed alongside Netflix that the partnership will continue with several new projects on the way.
The Duke and Duchess of Sussex signed a highly lucrative deal with the streaming giant in 2020 after stepping down as working members of the Royal Family.
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The extension of the creative partnership through Archewell Productions will be in the form of a multi-year first look deal for film and television projects.
However, a source has said that this allows Netflix to easily stop working with the Duke and Duchess of Sussex if they see no value in fresh projects produced by the couple.
A source in the TV industry told the Mail: “This announcement is potentially an elegant way for Netflix to cut its ties with the Sussexes if they don’t come up with anything juicy and personal – such as their 2022 docu-series Harry & Meghan.”
Regarding the amount the Sussexes will be paid in the agreement, a spokesperson for the couple said: “I can say no more owing to commercially confidential contractual agreements.”
Netflix confirmed that the second season of the Duchess of Sussex’s lifestyle programme ‘With Love, Meghan’ will be released later this month.
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A Netflix spokesman said regarding the figure: “As you can imagine, and as with all the talent Netflix works with, we don’t discuss fees or deal terms.”
On Monday, Netflix confirmed that the second season of the Duchess of Sussex’s lifestyle programme ‘With Love, Meghan’ will be released later this month.
The streaming company will also advance their partnership with Meghan’s lifestyle brand As Ever and extend the current product range.
Meghan will star in a Christmas special episode in December as part of the With Love, Meghan series.
One of the new projects that the Sussexes have worked on is ‘Masaka Kids, A Rhythm Within’, which Prince Harry and Meghan have helped produce for Netflix.
Another is the adaptation of the best-selling novel by Carley Fortune, Meet Me At The Lake.
