Prince Harry, Meghan Markle Reportedly 'Sold Themselves Out' as Netflix Deal Faces 'Ruthless' Collapse

When the Duke and Duchess of Sussex inked their blockbuster deal with Netflix in 2020 — a sprawling £100million contract that promised to reshape their post-royal fortunes — it seemed like the ultimate vindication. They had walked away from the institution, seized control of their own narrative and secured a golden ticket to entertainment industry stardom. Yet five years later, the fairy tale has curdled into something far more complicated.

Their initial contract expired in 2025, but rather than the triumphant renewal many anticipated, Netflix offered them something altogether different: a diminished 'first-look' deal that puts the streaming giant in the driver's seat, granting them the power to greenlight or reject any project the couple proposes. It's a humbling pivot that signals mounting doubts about the commercial viability of their brand, according to royal author Duncan Larcombe, who believes the Sussexes' waning fortunes have become impossible to ignore.

'If they go on to lose all of their Netflix deal, it's going to come as a very bitter blow to them,' Larcombe observed. 'Largely, it's been a success story for them personally since they stepped down as working royals.' The analyst went on to paint a starkly different picture of their current trajectory. 'But if it means selling the family silver, you don't want to get into a situation where you don't make full money for it.'

The Netflix Collapse and the Problem With Selling Yourself Short

The real crisis lies not in securing a deal, but in what that deal reveals about their ability to hold audience attention. 'Effectively, they've sold themselves out, but they've run out of truth bombs,' Larcombe said, gesturing towards a fundamental problem facing the couple. 'If they're not making headlines and, more importantly, if viewers are turning off in their droves, then companies like Netflix are ruthless, and they're not going to carry them just because they're the Duke and Duchess of Sussex.'

Meghan's recent lifestyle series, With Love, Meghan, has become a cautionary tale of diminishing returns. The show, which aired two seasons and a holiday special, failed spectacularly to crack Netflix's top 1,000 shows for the whole of 2025, according to the streaming platform's engagement report — a sobering reality that contradicts the glittering image Meghan cultivated over years of media positioning. Sources have claimed the series will not return for a third season, though neither Netflix nor the couple has officially confirmed the cancellation.

The broader pattern is what troubles observers most deeply. 'They have to figure something out because the number of projects they've announced since they left the UK that have hit the ground and been a success is actually quite small,' Larcombe noted.

This gap between ambition and execution has quietly become the defining characteristic of their post-royal life. It's a far cry from the carefully orchestrated spectacle of their departure in 2020, when they controlled the narrative and shaped how the world perceived their exit from public duty.

Why Family Ties Matter More Than Star Power

There's another layer to this unfolding drama, one that touches on the deeply personal rift between Harry and his family back home. Larcombe offered a provocative observation that reframes the entire Netflix saga: 'Harry needs to reconcile with family as well because that's where their Netflix deal comes from — it's their access to the royal family.'

The suggestion is quietly explosive. Without the mystique, the drama, and the insider access that royal connection provides, the couple simply cannot compete in an entertainment landscape drowning in content.

That observation may explain why both Harry and Meghan made a surprise appearance at the Sundance Film Festival this past weekend, showcasing a documentary called Cookie Queens — a coming-of-age story about Girl Scouts selling their cookies. The couple's production company, Archewell Productions, partnered with Beautiful Stories and AJNA Films on the project, marking another attempt to prove their creative relevance.

The red carpet moments and festival appearances serve a purpose: they keep the machinery ticking over, they maintain the couple's visibility, and they remind the world that they're still in the game. Yet each appearance also underscores how far they've fallen from the days when simply announcing a project would dominate headlines for weeks.

The couple were photographed interacting with the film's production team, a carefully managed moment designed to signal business-as-usual, even as the underlying reality tells a more troubling story. The Netflix gamble has become a mirror reflecting a broader truth about celebrity in the digital age: star power without substance, and access without authenticity, eventually runs dry. For Harry and Meghan, the reckoning is here — and it's impossible to ignore.