WASHINGTON: Streaming platform Netflix said it had decided to stop work on Meghan Markle’s family series “Pearl” as it reviewed animated content.
The US streamer last month reported a fall in subscriber counts for the first time in its decade-long history. The company also warned shareholders that it expects to lose two million customers as people cancel their Netflix subscriptions after the Covid-19 pandemic-fuelled boom in services.
As a result, Netflix stock dropped by 25 per cent – wiping over $40bn from its market value overnight.
Dropping several projects, including Markle’s, was part of strategic decisions on production of animated series, the company said in a statement, without providing further details on its decision.
Archewell Productions, the company formed by Markle and her husband, Prince Harry, said last year that she would be an executive producer of Pearl.
The series was to be centred on the adventures of a 12-year-old girl who is inspired by influential women from history. The couple is formally known as the Duke and Duchess of Sussex.
Netflix also decided not to move forward with the two animated children’s series Dino Daycare and Boons and Curses.
Last year, Netflix extended a deal for animation films with Comcast subsidiary Universal Pictures, a move that was expected to help Netflix hold on to child viewers.
Netflix said it would continue to work on projects with Archewell, including the previously announced documentary series Heart of Invictus. This will focus on athletes competing in the Invictus Games for injured veterans in The Hague in 2022.
