Netflix has been wielding the ax on many projects in the last few weeks following a devastating loss of subscribers and a huge drop in share prices that sent shock waves through the streaming giant. It seems that when it comes to trimming the fat, even some of their most high profile partnerships are not completely immune to the chop as Meghan Markle’s animated series Pearl has been dropped from Netflix’s in development projects, as reported by Deadline. Announced last August as part of the huge deal with Archewell Productions, the company set up by Markle and Prince Harry in 2020, Pearl was one of the expected exclusive productions for Netflix and was set to be the first animated series from their deal.
There was a lot of attention given to the announcement of Pearl last year, and at the time Markle, who was executive producing along with David Furnish, gushed, “I’m thrilled that Archewell Productions, partnered with the powerhouse platform of Netflix and these incredible producers, will together bring you this new animated series, which celebrates extraordinary women throughout history. David Furnish and I have been eager to bring this special series to light, and I am delighted we are able to announce it today.”
While the series was only in early development, it is one of the more surprising titles to have been ditched by Netflix after such a big fanfare was made about the project last summer. Despite not moving ahead with Pearlthe streamer are still said to be moving ahead with other projects already in the pipeline with Archewell Productions, including the documentary series Heart of Invictus. However, it is 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 Recent Issues Have Caused Many Changes For The Streamer
Since news broke of a 200,000 subscriber loss in the last quarter, there have been a lot of things in flux at Netflix. While part of the subscriber drop is due to the war in Ukraine, the main issue is that Netflix had originally boasted a predicted increase of 2.5 million subscribers during the same period and the gigantic shortfall against expectation send a much needed shockwave through the company.
Suddenly, a number of big-budget projects were in doubt, some lesser performing shows were canceled, and the streamer announced plans to crack down on password sharing between family members, which it also partially blamed for its lack of growth. While there are many factors to be considers, such as the huge growth in subscriber numbers seen during the Covid pandemic that were perhaps not as organic as they would have been in other circumstances, Netflix immediately began looking to see what upcoming projects they could offload, reportedly telling some producers to find other homes for some projects.
Who else could yet see some of their upcoming movies and TV shows facing the ax from Netflix is still to be seen, but as the streamer takes a greater interest in quality over quantity to try and keep ahead of their increasing competition, it looks like there is still some way to go until the cuts are done.
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