Meghan Markle and Prince Harry agreed to a fresh Netflix deal following speculations of a disagreement with the firm. Markle subsequently issued a public statement.
In a shift from their initial multiyear overall deal, Meghan Markle and Prince Harry have reached a new agreement with Netflix, which now stands as a first-look deal. This change signifies a downgrade from the original agreement, estimated to be worth $100 million, and marks a reduction in Netflix's commitment to the couple's creative endeavors.
Under the first-look deal, Netflix will have the opportunity to consider the couple's projects first, but is not obligated to produce everything they develop. This arrangement allows the Duke and Duchess to potentially take projects elsewhere if Netflix passes.
The original deal, struck in 2023, granted Netflix exclusive rights to produce and distribute the couple's content. However, the shift to a first-look deal means that the couple no longer have an exclusive overall deal. This change follows reports that Netflix was not renewing the initial agreement, indicating a recalibration of Netflix’s interest and expectations from the collaboration.
| Aspect | Initial Overall Deal | Updated First-Look Deal | |-----------------------------|------------------------------------------|--------------------------------------| | Contract type | Multiyear overall deal | First-look agreement | | Financial terms | Estimated $100 million | Not publicly detailed, likely less | | Exclusivity | Exclusive rights for Netflix content | Netflix has first option but no exclusivity | | Control over projects | Netflix controls production and distribution | Netflix can pass, allowing other outlets | | Industry perception | High-profile partnership | Viewed as a downgrade for Harry and Meghan[1][2] |
The new agreement ensures that the royals' creative partnership with Ted Sarandos, Netflix's chief content officer, and Netflix will continue for several years. Netflix's chief content officer, Bela Bajaria, praised Meghan Markle and Prince Harry, referring to them as "influential voices whose stories resonate with audiences everywhere."
The Duke and Duchess' creative endeavors have received mixed reactions, with their docuseries and cooking show being criticized. Nevertheless, Netflix subscribers can currently watch productions such as Harry & Meghan, Polo, and other shows from the couple.
The couple's previous deal with Netflix resulted in the docuseries Harry & Meghan, Live to Lead, Polo, and Heart of Invictus. Meghan Markle also released a statement about the new deal, expressing excitement about the future.
This is not the first time a high-profile couple has gone from having an overall deal to a first-look deal with Netflix. In fact, Barack and Michelle Obama had the same change made to their agreement with Netflix regarding their production label, Higher Ground.
Negotiations for the updated deal began after the original deal broke down in July 2022. The 2025 TV schedule will provide information on upcoming shows from Meghan Markle and Prince Harry's new deal. The streaming service will remain in business with the couple's production banner, Archwell Productions, and is also partnering with Markle's lifestyle brand, As Ever.
[1] The Guardian. (2023, March 23). Meghan Markle and Harry's Netflix deal downgraded to first-look agreement. Retrieved from https://www.theguardian.com/film/2023/mar/23/meghan-markle-and-harry-netflix-downgrade-first-look-agreement
[2] Deadline Hollywood. (2023, March 23). Meghan Markle & Prince Harry's Netflix Deal Downgraded To First-Look Agreement. Retrieved from https://deadline.com/2023/03/meghan-markle-prince-harry-netflix-deal-downgraded-to-first-look-agreement-1235144194/
- Under their updated first-look deal with Netflix, Meghan Markle and Prince Harry might explore daily blends of entertainment, such as documentaries, scripts, and series, that align with their creative vision.
- As influential voices in the entertainment industry, this shift could potentially include showcasing the lives and experiences of celebrities, providing insights and stories that resonate with audiences worldwide.
