Prince Harry and Meghan Markle had a sigh of relief on Monday when they were finally able to shut down speculations about the future of their Netflix deal.
However, keen-eyed experts were able to pick apart a major ‘downgrade’ that was made by the streaming giant, delivering an embarrassing blow to the couple.
The Sussexes first signed a multi-million-dollar deal with Netflix following their departure from senior royal positions in 2020. The five-year deal was seemingly a tough lesson for the streaming platform – given the lack of numbers the couple generated after their docuseries and the not being able to fulfil the number of projects – as they reviewed the terms and conditions of the contract.
Experts have went on to dub it as not only a “downgrade” but also a way for Netflix to extricate themselves from any concrete promise.
“I think Netflix has done a very neat job of pivoting away from two very expensive people who didn’t deliver, and they've taken that deal off the table, and they've given them a modest one,” PR expert Mark Borkowski told DailyMail.
“It’s not like they’re gradually uncoupling – it’s a downgrade,” he explained. “Netflix are not going to expose themselves to those budgets again. It’s Netflix saying, ‘Let’s have a look at your content, but we’ll pick and choose, mate’.”
Instead offering the money beforehand, like they did with the reported $100million of their first deal, the company will select if they want to something to produce.
“I would be surprised if it’s not pay-as-you-go and it’s well, well below that first mark,” he added. “They have shot the golden goose of 2020 – more of a ‘we'll call you’ than ‘here’s the chequebook’. It’s a first-look deal, which means Netflix gets first dibs but no obligation to bankroll every semi-royal whim.”
He also suggested that Netflix is “trimming fat industry-wide, so this is less carte blanche, more curated cameo”.
Despite being in partnership with Meghan’s lifestyle brand, As Ever, the deal appears to be an embarrassing blow in disguise, stripping them off of their complete freedom as they had in the previous contract.