Is Meghan Markle’s New Netflix Deal a Win For Her?

Meghan Markle and Prince Harry have signed a new Netflix deal on different terms, sparking a debate about whether it represents a victory or a loss for the couple.

The Duchess of Sussex is preparing to drop the second season of her cooking show With Love, Meghan later in August.

And she was this week able to shoot down media rumors that Netflix were going to dump her with the announcement of a new multi-year contract.

Why It Matters

The couple’s first Netflix deal, signed in September 2020, was worth a reported $100m and covered all projects produced over a five-year period. Its 2022 documentary Harry & Meghan retold the story of their move to the U.S., including their perspective on the royal rift and remains the streamer’s most-watched documentary debut.

The new arrangement is a “first-look deal” that gives Netflix first refusal on new projects. Some argue securing a second deal is for the couple a win in itself, after press reports suggesting the two sides were parting company. But while its financial terms have not been disclosed, the latest agreement is thought to be considerably less lucrative than the first, leading some to see it as a downgrade.

What to Know

Meghan said that she and Harry were extending their deal for films and TV shows with Netflix on Monday, saying the couple were inspired to “create thoughtful content across genres that resonates globally, and celebrates our shared vision.”

U.K. brand and culture expert Nick Ede, who predicted in July that a first-look deal would be the likely outcome of negotiations, said after Monday’s announcement: “I see it as a win for Meghan and for Harry to have Netflix, it’s still one of the biggest outputters of entertainment, still backing them in this way.

“They’re still going to have some of their office costs paid for and development costs paid for,” he told Newsweek.

Alongside the new deal, Meghan and Harry were able to announce a holiday special for With Love, due for release in December, as well as a new documentary, Masaka Kids, A Rhythm Within.

The latter is based around an orphanage in Masaka, Uganda, home to what a press release calls “a vibrant, one-of-a-kind community where orphaned children transform hardship into joy, dancing their way toward healing, belonging, and the promise of a brighter future.” It is due out later in 2025.

Netflix is also an equity partner in Meghan’s online shop, As Ever, which sells wine and products like jam, tea and honey featured in her cooking show.

“We’ve got the second season of With Love, Meghan to come out, and we’ve got the Christmas special and Netflix have got the investment in the actual brand itself,” Ede said.

“So I don’t think this is a fail. It’s almost a bit like a natural progression. We know there’s no more room for a kiss and tell.

“That’s what they did at the beginning, that’s how they dangled the carrot and why Netflix bit. They haven’t got that richness of content to talk about the royal family anymore so of course it’s not going to be so fruitful for them anymore but it’s a good outcome.”

While Harry & Meghan was hugely commercially successful, it was criticized for retreading the same ground covered in the couple’s exclusive Oprah Winfrey interview, prompting Variety to run the headline: “It’s Well Past Time for Harry and Meghan 2.0.”

Other projects since have been far less controversial—and have not gained the same viewer numbers.

The first-look deal reflects the reality that second time around, the couple are unlikely to land a commercial mega-hit of royal bombshell proportions, which would explain why Netflix will not be paying them huge yearly sums, but rather funding specific ideas they consider to be worth the money.

And Meghan and Harry have swerved the reputational injury that losing Netflix as a partner would have represented, although Ede argues the pressure is still on to produce great content.

“Archewell is… a production company which has big salaries for big people in there who have come up with lots of ideas and… many of those ideas haven’t seen the light of day,” he said.

“It’s really important to show some more success, and to work out what success looks like and create content that people really want to see.”

He pointed to the example of Barak and Michelle Obama, who pivoted to producing shows that were not about their lives, such as 2023 series Leave the World Behind, starring Mahershala Ali, Julia Roberts, Kevin Bacon and Ethan Hawke.

“That’s what Archewell need to do,” said Ede.

What People Are Saying

Former BBC royal correspondent Jenny Bond, asked whether the Netflix deal was like a phoenix emerging from the ashes for Meghan, replied: “We have to accept that it is us, the media, who created those ashes. There was no statement from Harry and Meghan, no indication at any point, but we all decided that the Netflix deal was dead in the water, so it’s one in the eye for all her detractors.

“They have won,” she added. “Meghan has won and we have to eat humble pie.”

Eric Schiffer, chairman of Reputation Management Consultants, told Newsweek Meghan’s lifestyle rebrand was like a “manufactured Martha Stewart and fans and those that are watching for the first time will cringe. Netflix is about data and the data from what I understand is not good.”

PR expert Mark Borkowski told the Daily Mail: “Netflix has done a very neat job of pivoting away from two very expensive people who didn’t deliver, and they’ve taken that deal off the table, and they’ve given them a modest one.

“It’s not like they’re gradually uncoupling—it’s a downgrade. Netflix are not going to expose themselves to those budgets again.”

U.K. satirical show Have I Got News for You posted on X: “Netflix have signed a new deal that gives them ‘first refusal’ on Harry and Meghan’s show ideas, frustrating rival streamers who wanted to have the rights to say no first.”

What Happens Next

Season two of With Love, Meghan is expected to drop later in August, while a holiday special is expected at Christmas.

Jack Royston is chief royal correspondent for Newsweek, based in London. You can find him on X, formerly Twitter, at @jack_royston and read his stories on Newsweek‘s The Royals Facebook page.

Do you have a question about Charles and Queen Camilla, William and Kate, Meghan Markle and Harry, or their family that you would like our experienced royal correspondents to answer? Email royals@newsweek.com. We’d love to hear from you.