Meghan and Harry set to rake in up to £75m after signing ‘staggering’ Netflix mega deal to become producers, experts say
MEGHAN Markle and Prince Harry could rake in up to £75million after signing a mega-bucks deal with Netflix, experts say.
The Duke and Duchess of Sussex, who have never produced a TV show, will make documentaries, films, scripted and kids’ programmes.
⚠️ Read our Meghan and Harry blog for the latest news on the Royal couple.
The couple, who quit royal duties in March, said they wanted their “impactful” output to “unlock action” and “give hope”.
Their lives “have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection”, they added.
Their pals the Obamas, also first-time producers, reportedly received up to £74m in a similar Netflix deal in 2018.
Before signing with Netflix, Harry and Meghan held talks with Disney and Apple, the New York Times reports.
Two executives involved in the discussions claimed representatives for the couple wanted to secure a deal worth around £75m, according to the US paper.
'STAGGERING DEAL'
PR guru Jonathan Shalit says Harry and Meghan will net between £37m and £75m.
He told The Sun: “It is a staggering deal.
"Never before has a Hollywood studio got hold of British royal family - this is historic.
“Meghan and Harry will hire shadow producers to do the work but their names alone attached to Netflix are gold dust.”
The Sussexes, who moved to LA in March after their split with the royal family, have founded a production company which has yet to be named.
Never before has a Hollywood studio got hold of British royal family - this is historic.
PR guru Jonathan Shalit
Mr Shalit, of InterTalent Rights, claimed Harry, 35, and Meg, 39, could pocket bonuses which would increase their haul to more than £180m.
Royal expert Ingrid Seward told the Daily Mail: "This proves it’s not what you can do, it is who you are.
"It’s very nice for them to be able to just step into that.
"I imagine Prince Charles will be relieved as they will be off his payroll now, and the British public will be relieved because they can pay back what they owe now on Frogmore Cottage, so it’s a win-win situation."
Meanwhile, a senior industry source claimed Meghan will “believe she’s getting full creative control”, The Times reports.
But the executive producer’s credits she is actually likely to receive are “thrown around like confetti”, they added.
The source told the paper: “TV networks, Netflix included, don’t let the lunatics run the asylum.
"Meghan will no doubt want to cast herself as Mother Teresa but that’s not how it’s going to pan out. "
US celebrity news website Deadline reports Harry and Meghan want to hire "diverse voices in front of and behind the camera" for their production company.
The couple, who bought an £11m Californian mansion in June, now have a global platform less than a year after quitting the royal family.
Last night it emerged Harry and Meghan already have an animated series in development which is focused on inspiring women, according to the New York Times.
A nature documentary series is also being planned.
The former First Couple's 2018 production deal will see them make series and films for the streaming service.
Following the stunning revelation, Harry and Meghan said: "Our lives, both independent of each other, and as a couple have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection.
"Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope.
"As new parents, making inspirational family programming is also important to us, as is powerful storytelling through a truthful and relatable lens."
Before signing with Netflix, Harry and Meghan held talks with Disney and Apple, the New York Times reports.
Last month, it was reported the Sussexes also held talks .
The box-office royal couple have already been working on animated Netflix series to inspire women, the New York Times reports.
ROYAL BRAND
Last month, Harry and Meghan officially changed the name of their Sussex Royal brand to the MWX Foundation, it was reported.
It set out the change from the ‘Sussex Royal The Foundation of the Duke and Duchess of Sussex’ to the 'MWX Foundation'.
The change comes just weeks after Harry and Meghan filed to change the name of their Sussex Royal charity to MWX, but then withdrew the application just nine minutes later.
Today's historic Netflix deal comes after Harry was filmed appearing to lay the groundwork for his wife's Disney voiceover deal six months ago.
He was overheard revealing Meghan Markle's interest to Bob Iger, the Disney chief at the London premiere of the Lion King last July.
Harry pointed to his wife and said: "You do know she does voiceovers?"
Disney bigwig Mr Iger, looking surprised, replies "ah I did not know that", before Harry continues "you seem surprised, she's really interested".
Ted Sarandos, Netflix’s co-chief executive and chief content officer, said in a statement: "We’re incredibly proud they have chosen Netflix as their creative home and are excited about telling stories with them that can help build resilience and increase understanding for audiences everywhere."
They pledged to become financially independent after stepping down as senior royals.
Before this mega-bucks Netflix deal, it was reported the couple were offered a million-pound deal with Spotify to produce exclusive podcasts.
The production company is understood to operate differently from their charitable foundation - Archewell.
In 2018, Netflix signed former US President Barack Obama and Michelle to work on scripted and unscripted series as well as docu-series, documentary films, and multi-million pound feature productions.
It is unclear what Meghan and Harry will call the company as they cannot use the word "royal" after quitting the Royal Family and moving to the US with their son Archie.
Harry and Meghan were forced to drop the name Sussex Royal when they stepped down from The Firm.
The Queen told them they couldn't use the word "Royal" in their branding after they quit to become financially independent and live in North America.
Earlier this summer, the royal couple moved into a £11m home in Santa Barbara after their stay in Tyler Perry's £14m LA mansion.
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The couple now live in a £11m nine-bedroom and 16-bathroom mansion in upscale Montecito, Santa Barbara.
Buckingham Palace declined to comment.