On May 1, Netflix announced it is dropping a planned animated series produced by Meghan Markle. The move is part of an effort to cut costs as the streaming giant struggles with a loss of subscribers and a drop in share value.
Pearl, created and executive produced by the Duchess of Sussex, was in development and revolved around the adventures of a 12-year-old girl that finds inspiration from influential women in history.
The show was announced with fanfare last summer as the first animated project undertaken by Archewell Inc.
Meghan Markle and Prince Harry created Archewell, named after their son Archie, in 2020 as a charitable foundation, a wellness platform, and media production company. After breaking with the British Royal Family, the former royals formed Archewell to establish their careers in the United States.
Netflix entered into a multi-year deal with Archewell in September 2020 for original content. The mega-deal, which, per Us Weekly, cost Netflix $100 million, gives the company exclusive distribution rights to Archewell productions, including documentaries, movies, series, and children’s programming. It is not clear if Archewell will attempt to move Pearl to another distributor after being unceremoniously dropped by Netflix.
Despite the decision to drop Pearl, Netflix remains in partnership with Archewell. Archewell’s Heart of Invictus documentary series with Netflix spotlights Harry’s Invictus Games, an Olympic-style competition for disabled former service members.
Netflix has been trimming the fat since its 2022 first-quarter financials revealed a decline in subscribers, and share prices dropped markedly. Along with Pearl, the company announced plans to cancel two other children’s animated series, Dino Daycare and Boons and Curses.
In other cost-cutting moves, Netflix confirmed that it fired around twenty-five employees and contractors from its marketing department on April 28. According to Vulture, Netflix’s editorial staff at Tudum took the hardest hit, with the fan website for Netflix-exclusive content losing ten employees.
