Netflix may have just saved itself a lot of money by not buying Warner Bros., and even made a couple of billion thanks to a healthy kill fee attached to the deal. But that money will help balance the books. Netflix may have lost millions of dollars in its lifestyle brand deal with Meghan Markle.
Netflix has been a place where a lot of public figures have gone over the last few years. Backpack and Michelle Obama have a deal there, but that one appears to be doing much better than the one signed by Prince Harry and Meghan Markle. Netflix recently got out of a partnership with Markle and her As Ever lifestyle brand. It was a deal that, according to an unnamed insider who spoke with Page Six, was a total loss for the streamer. They claimed…
Netflix put millions behind this deal and I don’t think they saw a return whatsoever. They just cut a loss
Certainly, if Netflix invested money and saw nothing from it, that’s a reason to reconsider. Not making a profit, or not even making back an investment, would be one thing, potentially worthwhile if the relationship was worth it. But if Netflix never saw a dime, that’s reason to change your strategy.
New business ventures are always difficult, even if you have clout and the money that Markle and Netflix are able to put behind it. As Ever, which sells luxury flower boxes with special arrangements for over $200 a pop, was launched alongside With Love, Meghan, the home and lifestyle show (available with a Netflix subscription) that was hosted by Markle for two seasons.
As Ever was only launched 11 months ago. The exact reason for the end of the partnership isn’t clear. While the loss of money was almost certainly a contributing factor, reports are that the Netflix series won’t be returning for a third season. And some inside the studio are saying that since the Netflix series was done, it simply didn’t make sense for Netflix to continue in that business.
Of course, that leaves open the question of why the series isn’t getting another season. While there have been rumors of conflict inside the Netflix/Markle relationship, the two sides did re-up the deal last summer, so things didn’t appear to be so difficult that it wasn't worth continuing.
It's possible Netflix is just getting out of the Meghan Markle business. The way that Netflix cancels shows, even ones with a lot of fan support, this just may be another case of that. Either way, Markle will now be able to focus more on making As Ever the success she surely wants it to be.
