Netflix cancels Pearl, Meghan Markle’s animated series and Prince Harry’s Archewell Productions
Netflix has canceled an animated series created by Meghan Markle as it cuts costs after disappointing first quarter results.
The video streaming giant confirmed in an email to AFP on Monday that it was not moving forward with the Duchess of Sussex’s pearl, announced last July.
The cancellation is “part of the strategic decisions Netflix makes regarding animated series,” the company said, adding that it was removing other children’s series, including Dino Daycare and Boons and Curses.
Markle and her husband Prince Harry have signed a deal to produce content for the streaming platform after stepping down from royal duties in the UK.
The California-based couple formed a production company called Archewell Productions, named after their son Archie.
Pearl was to be a 12-year-old girl who draws inspiration from historical female characters.
In 2020, Harry and Meghan announced they would create an Invictus Games documentary series for injured service members, which Prince Harry has long championed.
Netflix said Archewell Productions “remains a valued partner and we continue to work together on a number of projects, including the upcoming Heart of Invictus documentary series.”
Last month, Netflix reported a drop in subscribers for the first time in a decade, sending its stock price plummeting.
In April, Netflix said it ended the first quarter of this year with 221.6 million subscribers, down about 200,000 users from the last quarter of last year.
Netflix blamed the quarter-over-quarter erosion on the suspension of its service in Russia due to Moscow’s invasion of Ukraine.
Disney showed earlier this year that it is closing the gap with market leader Netflix in the US TV streaming wars.
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