Pearl, Meghan Markle's animated series, has been canceled by Netflix
Written byTimes Magazine
To save money, Netflix has canceled the development of Pearl, an animated series created by Meghan Markle.
The show, which was declared last year, is one of several projects that the streaming behemoth has axed. Netflix revealed a significant drop in subscribers last month and warned that millions more are on the verge of leaving the service.
This reduced its market value by more than $50 billion, and experts warned that it would be difficult to get back on track.
The Duke, also Duchess of Sussex's company, Archewell Productions, announced last year that Meghan would be an executive producer on Pearl.
Netflix did, however, confirm that it will continue to collaborate with Archewell Productions on several projects, including a documentary series called Heart of Invictus.
The series will center on athletes competing in the Invictus Games for injured veterans, held in The Hague in 2022 and founded by Prince Harry.
Archewell Productions did not respond immediately to a request for comment from the news. Netflix also announced the cancellation of two animated children's series, Dino Daycare and Boons, and Curses.
Netflix announced in April that its total number of subscribers had fallen by 200,000 in the 1st three months of this year, falling far short of its target.
Some analysts warned that the company had run out of easy ways to grow the business after a period of rapid expansion during the pandemic.
Squeezed consumers are cutting back on streaming services to save money, while others believe there is too much content to choose from in an onslaught of competition from rivals like Disney and Amazon.
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