HomeViralNetflix reveals the state of Prince Harry and Meghan Markle’s business
Netflix reveals the state of Prince Harry and Meghan Markle’s business
June 28, 2023
Netflix Insists Prince Harry and Meghan Markle in the foreseeable future.
The streaming platform recently released a statement noting that they “value” their relationship with the duo and look forward to working with them on new projects.
This comes after the Sussexes’ contract with Spotify ended and the US Patent and Trademark Office rejected their Archetype trademark application.
Read on to learn more.
“We value our partnership”
GraylingPeople magazineNetflix wants to continue its relationship with Markle and Harry despite the duo recently losing their podcast deal with Spotify.
A spokesperson for the streaming platform revealed that they value their “partnership” with the royal couple and hope to release new projects in collaboration with the couple’s Archewell Productions.
“We appreciate our partnership with Archewell Productions…. we will continue to work together on a number of projects, including the upcoming Heart of Invictus documentary series,” the spokesperson said.
The deal was signed by the Sussexes and Netflix in 2020, shortly after the pair stepped down as senior royals and moved thousands of miles away to the US.
A major project, “Harry and Meghan,” was already in the works, giving viewers an insight into Harry and Meghan’s relationship, from the early days of their courtship to the problems and controversies that led them to cut ties with the royal family.
When it premiered in 2022, the documentary set a new record for the biggest debut week for a documentary in Netflix history, despite being panned by many critics.
Prince Harry and Meghan Markle have lost their Spotify contract
Netflix’s reassuring statement will come as a relief to Harry and Meghan, who recently lost their podcast deal with Spotify. The decision to terminate the agreement was reportedly “mutual” and noted in a joint statement from both parties.
Losing the deal means the pair won’t earn anywhere near the full amount they agreed to in 2020. Only 13 hours of content were produced, mostly focusing on the couple’s podcast series.
After the cancellation of the deal was announced, a source speculated that Spotify parted ways with the Sussexes because the podcast did not live up to its potential.
“While ‘Archetypes’ has done well and won a few awards, doing a deal like this is not good to have just one series in that amount of time,” the source said. Page six.
Prince Harry and Meghan Markle’s trademark application was rejected
Just as the duo was reeling from the Spotify blow, the US Patent and Trademark Office rejected their application to trademark the name ‘Archetype’.
According to the Daily Mailthe couple applied to trademark the name of their women’s issues podcast series ‘Archetype’, which launched in 2021.
However, the application was rejected because it could be “confused” with an existing trademark owned by Archetypes LLC, an Arizona-based company. Archetypes LLC previously patented the trademark for its collection of books and articles on “nutrition, fitness, sexuality and psychological self-improvement.”
However, the failure to obtain the trademark does not appear to be final, as the couple’s lawyers have asked for three more months to refine their application.
Prince Harry and Meghan Markle have some serious bills to pay
Since losing the Spotify deal, there has been speculation that the pair will face challenges in managing their significant expenses.
The Sussexes are currently paying a hefty mortgage on their sprawling Tuscan-style property, which they acquired in June 2020 for $14.7 million, in addition to their other financial obligations.
They also have to pay nearly $200,000 a year in property taxes, as well as pay employees and maintain their residences. Their personal security data claims an estimated $2 million a year. In addition, Harry’s ongoing legal battles with the British press have resulted in significant legal costs.
Despite their money problems, a source believed the former senior royals are not “broke, but they still need to spend their money instead of borrowing from the bank”.