Prince Harry and Meghan Markle's renewed Netflix contract is worth significantly less than their original agreement, according to sources who describe it as a scaled-back arrangement with tighter controls.

A source familiar with the deal told Page Six the new contract is "much" smaller than the couple's first Netflix agreement in 2020. "It's not much," the insider said. "It's no risk for Netflix but saves them both reputationally." The person said the structure allows Netflix to avoid large financial commitments while giving the Sussexes continued visibility on the platform.

A Step Down From 2020

PR expert Mark Borkowski told the Daily Mail the new deal is "a downgrade" from the couple's initial contract. He said Netflix has "pivoted away from two very expensive people who didn't deliver" and replaced the original terms with "a modest one."

Borkowski said the payment model is now likely "pay-as-you-go" and "well, well below that first mark." In his view, the arrangement signals a change in the power dynamic. "It's more of a 'we'll call you' than 'here's the chequebook,'" he said. Netflix, he added, will "pick and choose" which ideas to fund and avoid the large budgets of their first deal.

"They have shot the golden goose of 2020," Borkowski said, calling the new setup "less carte blanche, more curated cameo."

The first-look arrangement means the streaming company will review Harry and Meghan's pitches before other buyers. Netflix can then decide whether to purchase the rights.

The couple's production company, Archewell Productions, will deliver the second season of Meghan's lifestyle series "With Love, Meghan" in late August, followed by a holiday special in December. They are also producing "Masaka Kids, A Rhythm Within," a short documentary on orphaned children in Uganda, and developing an adaptation of Carley Fortune's novel "Meet Me at the Lake."

Netflix and Sussex Statements

Meghan said she and Harry are "proud to extend our partnership with Netflix and expand our work together to include the As Ever brand."

The statement further said, "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."

Netflix's Chief Content Officer, Bela Bajaria, said they are "excited to continue our partnership" with the Sussexes.

The couple's first show on Netflix, "Harry & Meghan," came out in December 2022 and 23.4 million people watched in just four days. Their original deal, reported at $100 million but later estimated by Page Six sources to be closer to $20 million, marked a major post-royal venture.

Tags
Meghan Markle, Prince Harry, Netflix