While we’re all desperate to know what this new deal is really worth in dollars and pounds, one thing I can tell you for certain is that Prince Harry and Meghan want us to know they’re delighted that Netflix again wanted to get a deal done.
“Absolutely over the moon” is how it was described to me.
But they’ll also be aware of the attention it’ll attract as we all try to pick apart what it means.
Meghan, Duchess of Sussex. Pic: Jake Rosenberg/Netflix
Firstly because of that ongoing fascination in how they’re making money since stepping away from royal life and losing financial support from the King, but also because of the recent reports that Netflix were intending to cut ties.
Yes this is a different type of deal from their original one in 2020. Some have argued that a “first look deal” looks like a demotion from what they previously signed up to.
With no real clarity on how much their original deal was worth, and no numbers being publicly thrown around this time, that is hard to judge.
But talking to those who know something about these kinds of deals you do get a sense it could potentially be more lucrative than it looks on face value.
With first look deals, yes there is often financial commitments from the likes of Netflix to get that first exclusive look at projects and first refusal.
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But there could be other significant monetary incentives for the Sussexes to sign.
For example, when the Obamas signed a first look deal with Netflix, the streaming service agreed to pay the operational costs for their production company “Higher Ground”.
Could it be that Netflix are also now covering the costs of Archewell Productions?
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It’s stating the obvious to say that Harry and Meghan continue to divide opinions, some wanting to watch their programmes from a place of respect and fondness, others as a reason to grumble about them.
But signing on this latest dotted line shows Netflix still sees them as a power couple, who attract significant attention and are worthy of investment, whatever that really adds up to.
