Netflix has wielded the ax on numerous projects in recent weeks following a devastating loss of subscribers and a huge drop in stock prices that sent shockwaves through the streaming giant. It seems that when it comes to cutting fat, even some of their most high-profile partnerships aren’t completely immune to the chop like Meghan Markle’s animated series. pearl has been removed from Netflix’s development plans, as reported by Deadline. Announced last August as part of the huge deal with Archewell Productions, the company created by Markle and Prince Harry in 2020, Pearl was one of the exclusive productions expected for Netflix and was to be the first animated series under their deal.
Much attention was given to the announcement of pearl last year, and at the time Markle, who was an executive producer with David Furnish, exclaimed, “I am delighted that Archewell Productions, in partnership with the powerful platform of Netflix and these incredible producers, brings you together this new animated series, which celebrates extraordinary women throughout history. David Furnish and I have been looking forward to spotlighting this special series, and I’m thrilled that we can announce it today.
While the series was still in its infancy, it’s one of the most surprising titles to be dropped by Netflix after such great fanfare over the project last summer. Although he does not go ahead with pearlthe streamer is reportedly still moving forward with other projects already in the works with Archewell Productions, including the documentary series Heart of Invictus. However, it’s a sure sign that no matter who you are or what kind of deal you have with a streamer, everything can change very quickly.
Netflix’s recent issues have caused a lot of changes for the streamer
Ever since news of a 200,000 subscriber loss broke last quarter, there’s been a lot in motion at Netflix. Although part of the subscriber decline is due to the war in Ukraine, the main problem is that Netflix initially boasted of an expected increase of 2.5 million subscribers over the same period and that the gigantic shortfall to expectations is sending a much-needed shockwave through the business.
Suddenly, a number of big-budget projects were thrown into doubt, some underperforming shows were canceled, and the streamer announced plans to crack down on the sharing of passwords among family members, which it has also partially blamed for its lack of growth. While there are many factors to consider, such as the huge growth in subscribers seen during the Covid pandemic that may not have been as organic as they would have been in d Under other circumstances, Netflix immediately began looking to see what upcoming projects they could unload, reportedly telling some producers to find other homes for certain projects.
Who else might still see some of their upcoming movies and TV shows in the face of Netflix’s ax remains to be seen, but as the streamer is more concerned with quality than quantity to try and keep a running length. ahead of their growing competition, it looks like there’s still a long way to go before the cuts are made.
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