Los Angeles, California – The renewal of their Netflix deal sounded like a success for Prince Harry and Meghan Markle, but it seems that all that glitters is not gold.
As insiders told Page Six on Monday, this time, the ex-royals’ deal is not worth the lucrative $100 million that their first agreement was.
“It’s not much,” a source said. “It’s no risk for Netflix but saves them both reputationally.”
Meghan and Harry will now profit per project – and only if Netflix is happy with the results.
Prince Harry and Meghan Markle sign a brand new deal with Netflix
This is what is referred to as a “first look” clause, a move that has become popular with Netflix for allowing it to only pay for content that it wants to stream rather than pay a lump sum at the start of the contract.
As royal expert Hugo Vickers told The Sun, the agreement might be a sign that the Sussexes didn’t have as much leverage as they did the first go-around.
“I don’t think the Sussexes would have been able to pressurize [Netflix] because they’re not in a very strong bargaining position,” he said. “Netflix will have figured out they will be getting publicity from the shows.”
Still, the streamer has agreed to cover the costs associated with the couple’s production studio, such as offices or employee salaries.
On Tuesday, Netflix announced that season 2 of With Love, Meghan – a lifestyle series that sees the former actor show off her best hosting tips – will debut on August 26.
