Netflix, which has lost subscribers for the first time in more than a decade, canceled on Monday an animated series produced by Meghan Markle, the American wife of Prince Harry of Britain. The California-based couple has an agreement with the streaming giant to produce content.
Netflix confirmed in an email that it is stopping the series project Pearls announced in July, cited strategic decisions also about other animated series.
Meghan and Harry, who left the UK in 2020, set up a production company in California and agreed to produce content for Netflix.
Series Pearls is to tell the story of a 12-year-old teenager who was driven by his personal development by famous women.
Netflix confirmed in its press release that it will continue to work with the couple and its production company Archewell.
Losing subscribers for the first time in over a decade, Netflix is facing stagnation after a decade of runaway growth.
It was enough on April 20 for Netflix to drop in the first quarter by just 200,000 net subscribers, i.e., less than 0.1% of the total, to baffle Wall Street, with a share reduction of more than a third of its value in a single session. The platform expects a drop of two million net subscribers in the second quarter.
Source: Radio-Canada
