Harry and Meghan renew Netflix deal with first look partnership
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Harry and Meghan renew Netflix deal with first look partnership
Five years ago, Harry and Meghan secured a lucrative contract, thought to be worth more than 100 million dollars (£74 million) with the streaming giant after quitting as senior working royals in 2020.
The first-look deal, which means Netflix will have the first option on Harry and Meghan’s projects, was described by the Sussexes as “extending their creative partnership”.
But PR and crisis expert Mark Borkowski described it as a “downgrade”, and suggested Netflix was “pivoting away” from Harry and Meghan.
Mr Borkowski told the PA news agency the deal was a long way from the jackpot figure of their original contract.
“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,” he said.
“It’s not like they’re gradually uncoupling. It’s a downgrade. Netflix are not going to expose themselves to those budgets again and it’s Netflix saying ‘Well, look, let’s have a look at your content, but we’ll pick and choose, mate’.”
Mr Borkowski suggested the Sussexes would now be on a pay as you go deal, where they are paid for productions as and when they are selected by Netflix, rather than receiving an overall amount.
“I would be surprised if it’s not pay as you go and it’s well, well below that first mark (of an estimated 100 million dollars),” Mr Borkoski said.
A representative for the Sussexes declined to comment on the financial arrangements of the deal.