Prince Harry and Meghan Markle are set to have some of their production costs covered by Netflix as part of the new deal they signed with the streaming service.
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.
Despite a huge reduction in the financial terms of their partnership with Netflix, branding expert Nick Ede backed the new deal as a triumph for the Sussexes.
He added that the streaming giant will help pay for the production and development costs of future projects by the couple.
Ede told Newsweek: “I see it as a win for Meghan and for Harry to have Netflix, it’s still one of the biggest outputters of entertainment, still backing them in this way.
“They’re still going to have some of their office costs paid for and development costs paid for.”
The Duke and Duchess of Sussex’s have committed to a multi-year first look deal for film and television projects with the streaming giant.
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Netflix also 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.
He continued: “We’ve got the second season of With Love, Meghan to come out, and we’ve got the Christmas special and Netflix have got the investment in the actual brand itself.
“So I don’t think this is a fail. It’s almost a bit like a natural progression. We know there’s no more room for a kiss and tell.
Prince Harry and Meghan Markle confirmed alongside Netflix that the partnership will continue with several new projects on the way.
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“That’s what they did at the beginning, that’s how they dangled the carrot and why Netflix bit.
“They haven’t got that richness of content to talk about the Royal Family anymore so of course it’s not going to be so fruitful for them anymore but it’s a good outcome.”
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.
