All round
Meghan Markle and Prince Harry’s last surviving media deal £81m one with Netflix
Meghan Markle and Prince Harry’s Archewell podcast has been canceled by Spotify after just one season.
The couple is expected to lose their full £15million payout as the show failed to meet production level targets.
In a statement, the Duke and Duchess of Sussex insisted that the split was a mutual decision between them and the streaming giant.
This cancellation means that the couple’s last major media deal is the £81million with Netflix.
The cancellation could prove to be a significant obstacle in the couple’s ambition to set up their own $1bn media empire after their acrimonious split with the Royal Family.
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Since quitting their royal duties in 2020, the couple has been building a complex network of entertainment companies to help promote “their truth.”
Meghan Markle and Prince Harry have signed lucrative deals that are worth more than £100 million with Netflix, Spotify, and Penguin Random House, with Netflix reportedly paying the lion’s share of the huge cash injection.
The streaming giant reportedly shelled out a whopping £81million for Harry and Meghan’s bombshell docuseries “Harry & Meghan” last December as part of a multi-year deal with the firm.
The series became Netflix’s second-highest-ranked documentary ever, behind “The Tinder Swindler.” Harry and Meghan are now believed to be in talks to front their latest documentary with the global streaming titan, which will see them meeting communities in South Africa, sources have claimed.
Prince Harry and Meghan are now left with only one major media deal left with Netflix.
However, they have created a complex network of companies based in the tax haven Delaware since moving to America.
Some of the 11 companies linked to the Duke and Duchess of Sussex help oversee their media empire.
The Archewell Foundation, created by the couple after they stepped down as senior royals in 2020, has been helping to fund charitable causes across the globe.
Based in the US, tax records released this year show it gave out about £2.5million ($3million) in grants and raised £10million ($13million) from wealthy benefactors.
The charity is mostly propped up by two wealthy philanthropists who contributed a combined $13million, while taking in a meager $4,470 (£3,480) from the public for their work.
Prince Harry also bagged a lucrative book deal to produce his tell-all memoir “Spare” that netted him £16million.
The royal’s bombshell autobiography became the fastest-selling non-fiction book since records began in 1998, publishers claimed, selling more than 3.2million copies worldwide in its first week.
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