Prince Harry dealt 'financial blow' after major update to his and Meghan's Netflix deal

Prince Harry will have been dealt a significant blow after Netflix reportedly decided not to renew his and Meghan Markle's multi-million-dollar deal, according to sources. The Sussexes are believed to have signed a five-year deal worth around $100millionin September 2000 with the streaming giant to produce a raft of content.

However, apart from their first offering - their controversial docuseries Harry & Meghan - their following shows on the streaming platform have not matched its success. In fact, last week, it emerged that Meghan's lifestyle and cookery show, With Love, Meghan, failed to make it into Netflix's top 300 most-watched shows for 2025.

Now sources have said the deal with Netflix will not be renewed when it expires, with one insider telling PEOPLE magazine it reflects a broader shift in the streamer's business strategy.

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Meanwhile, another source told The Sun that the deal had "run its course" and that Netflix felt they had got "all they could" from the couple.

And they added it could prove a huge financial hit for the couple, especially Harry. The source said: "Netflix execs are well aware Meghan’s priority now is her own brand, and they won’t play second fiddle to that.

"Publicly, there will not be a statement, and of course, if things change dramatically, they’d be open to a one-off project down the line. But for Harry, especially, this will be a blow. It’s a huge loss of revenue." The Mirror has contacted Netflix and the office of the Duke and Duchess of Sussex for comment.

When they first signed the deal with Netflix, the couple said: "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."

Ted Sarandos, Netflix's chief content officer and co-chief executive, also said at the time: "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."

But speaking in their bombshell interview with Oprah Winfrey in 2021, Harry memorably said he and Meghan signed lucrative deals with the likes of Netflix and Spotify after being financially cut off from the royals - leaving them with hefty security bills.

Harry said deals with the streaming giants were "never part of the plan", but said they needed cash to pay for security. He said: "That was suggested by somebody else by the point of where my family literally cut me off financially, and I had to afford security for us."

The couple's deal with Spotify was said to be worth $25million but came to an end after just several episodes of a joint podcast and one series of Meghan's podcast, Archetypes.

The 12-episode series saw Meghan chat with different celebrity pals, including tennis icon Serena Williams, legendary singer Mariah Carey, and socialite Paris Hilton.

But when the Sussexes' deal with the streaming platform came to an end, they were brutally described as "f***ing grifters" by a top Spotify executive. Bill Simmons, head of podcast innovation and monetisation at Spotify, hit out at the Sussexes in an episode of his own podcast, saying: "The f***ing grifters. That's the podcast we should have launched with them."