Streaming service Netflix has decided to drop Meghan Markle’s animated series “Pearl” as part of its efforts to cut costs.
In a Sunday statement, the company said it would cancel several projects, including the animated show made by “Archewell,” a production company formed by Markle and her husband, Prince Harry.
Netflix stated that leaving Pearl was part of its “strategic decisions” about producing animated series, but it did not provide further details.
The announcement came after the streaming platform revealed that it had seen a significant loss in subscribers and warned that millions more users would stop using the service in the next three months.
According to the latest reports, Netflix lost 200,000 subscribers in the first quarter of 2022, falling far below its forecast of 2.5 million more subscribers.
Experts said the company’s recovery was facing difficulties and would be complicated for the entertainment giant to get back on track, arguing that it had run out of easy and effective ways to grow. Consequently, Netflix lost more than $50 billion of its market value in April.
The streaming platform’s growth has also been affected by the Russia-Ukraine conflict, as it has lost around 700,000 members since Moscow ordered the invasion of its neighboring country.
Pearl was announced last year after Netflix signed an extended deal to produce animated films with Universal Pictures, expecting to retain existing children’s viewers.
The series had been planned to follow the story and adventures of a 12-year-old girl inspired by various influential female figures in history. Archewell Productions revealed in 2021 that the Duchess of Sussex would produce the show.
Other animated children’s series that Netflix dropped were “Boons and Curses” and “Dino Daycare.”
However, the streaming giant reiterated that it would continue to work alongside Harry and Meghan’s production company on the previously announced documentary series “Heart of Invictus.”
According to Netflix and Archewell Productions, “Heart of Invictus” will follow the story of athletes competing in the Invictus Games for injured veterans, an event founded by Prince Harry that is set to take place in The Hague this year.
Neither the streaming company nor Archewell Productions have responded to a request for comment on the matter.
