The continued partnership will be a “first-look deal”

Prince Harry and Meghan Markle are celebrating a major professional milestone as Netflix has officially announced that it will continue its creative partnership with the couple.

After weeks of swirling speculation that their five-year deal might not be extended this year, the couple has confirmed that their collaboration with the streaming giant, through their company Archewell Productions, is very much continuing, with several new projects in development.

In 2020, months after announcing they were quitting their senior royal roles, Harry, 40, and Meghan, 44, signed a five-year deal with Netflix, reportedly worth $100m.

Prince Harry and Meghan Markle are reportedly “over the moon” after the renewal of their Netflix deal (Credit: SplashNews)

Prince Harry and Meghan Markle ‘over the moon’ with new Netflix deal

Last month, reports emerged claiming that the couple’s Netflix deal was “dead” and wouldn’t be renewed in September. At the time, Harry and Meghan, nor Netflix, addressed the speculation.

Until this week, when it was revealed that actually, their partnership will continue in a new capacity.

Now, speaking to GB News, a source close to the couple said the news is a huge relief and they’re glad the recent rumours have been “put to bed”.

The insider claimed: “The couple are pretty thrilled with the deal. It’s been a long time in the planning. They’re over the moon. It’s great to be able to continue making great programmes with Netflix.”

The source added that the Sussexes had felt “frustrated” by the inability to “put [the rumours] to bed” about the supposed end of their Netflix partnership during contract negotiations.

They said: “Some of the reporting shows you how much wild and inaccurate speculation there is around the duke and duchess.”

The renewed deal also allows the couple to counter criticism surrounding their marketability.

“Harry and Meghan are still box office despite what the British press might want to think,” the source concluded. “Netflix would not have renewed the deal if they thought the duke and duchess wouldn’t sell.”

In a public statement this week, Meghan said she and Harry are excited to continue their work with Netflix.

“We’re proud to extend our partnership with Netflix and expand our work together to include the As Ever brand,” the duchess gushed. “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.”

Meanwhile, Netflix’s Chief Content Officer, Bela Bajaria, also echoed that enthusiasm: “Harry and Meghan are influential voices whose stories resonate with audiences everywhere. We’re excited to continue our partnership.”
The new deal will be a “first-look deal” (Credit: SplashNews.com)

Does Netflix pay Harry and Meghan?

Yes. Prince Harry and Meghan Markle originally signed a reported $100 million (£80m) deal with Netflix in 2020. Of course, it was never confirmed by Netflix or Harry and Meghan how much the deal was worth.

The deal granted Netflix exclusive rights to documentaries, scripted series, and features produced by their Archewell Productions company.

Although some outlets speculated the deal would expire this September without renewal, this week’s announcement confirms that Netflix is doubling down on the partnership.

However, the new contract will be in a new format known as a “first-look deal”.

Some reports have suggested this could mean that it’s likely worth less than their original agreement.

What is a Netflix first look deal?

A first look deal means Netflix will have the first option on Harry and Meghan’s projects. It’s a more flexible, project-by-project approach, as Netflix moves away from fixed multi-project contracts.

“They have shot the golden goose of 2020,” an insider told the Daily Mail. “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.”

Netflix also currently holds a similar deal with former US President Barack Obama and Michelle Obama’s Higher Ground company.

A new season of With Love, Meghan will air this month (Credit: SplashNews.com)

Harry and Meghan’s upcoming projects

Meanwhile, the Sussexes revealed a slate of upcoming projects. Meghan’s lifestyle and cooking series, With Love, Meghan, will return for season two later this month. A holiday special will also air in December.

The couple will also produce Masaka Kids: A Rhythm Within. This documentary focuses on an orphanage in Uganda that uses dance and music to help children cope with the legacy of the HIV/AIDS crisis.

Additionally, Meet Me at the Lake, the romantic adaptation of Carley Fortune’s bestselling novel, will still moving forward, despite earlier speculation that the project had stalled.

Royal Insider contacted reps for the Sussexes for comment.