Netflix cancels Meghan Markle's Cartoon Series

Netflix, in an attempt to reduce costs, has given up broadcasting the animated series Pearl, created by Megan Markle.

Netflix cancels Meghan Markle's Cartoon Series

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Although back in the fall of 2020, Netflix, after Megan Markle and Prince Harry opened their own production house 'Archewell', announced large cooperation with them and gave them 100 million dollars, today, these plans are definitely given up.

Last month, the company discovered a sudden drop in subscribers and they were warned that millions of others would also leave the service, which reduced the company's market value by more than $ 50 billion. That is not a small number.

The canceled series is planned to focus on the adventures of a twelve-year-old girl, who is inspired by influential women from history.

Netflix, however, has confirmed that it will continue to work on a number of projects with that production, including one documentary series, which will focus on athletes competing in the Invictus Games for Injured Veterans, an event founded by Prince Harry in The Hague in 2022. year.

Recall, for the first time in a decade, Netflix is ​​losing subscribers. The fact is that they lost 200,000 subscribers in the first quarter of this year, and this negative trend is expected to continue, reaching two million. This automatically triggered the sale of shares, which is not unusual because it is expected that in such situations some shareholders panic. But when the entire stock is sold by a well-known financier like Bill Ackman, who runs a strong hedge fund Pershing Square Holdings, and loses $ 400 million in the process, it means high financial circles may find Netflix hard to come back.

The fact is, too, that the new competition, specifically HBO Max, caught up with Netflix very quickly. It was announced that the streaming platform already has 77 million subscribers, three million more than in the previous quarter, and nearly 13 million since its launch in America. And that’s no wonder, regardless of HBO’s experience and tradition of success, the surprise was still the rhythm with which it began airing hit series and movies from the start.