Netflix suddenly canceled development of an animated series initiated by Meghan Markle, wife of Prince Harry. What is behind that decision?
The animated series is titled Pearl and was originally approved by Netflix for production. The series basically tells about the adventures of a 12 year old girl named Pearl who finds inspiration after meeting influential women.
“Like many girls her age, Pearl is on a journey of self-discovery as she tries to face the challenges of everyday life,” Meghan Markle previously said.
Well, apparently the series was canceled as part of cost savings for Netflix. This streaming service is indeed thinking of a right strategy going forward because it just lost 200 thousand paid subscribers and made its share price drop drastically.
Not only Pearl, several other animated series were also stopped by Netflix so they didn’t air. Among them, as quoted by detikINET from Yahoo News, are Dino Daycare and Boons and Curses.
Meghan and her husband Harry still have projects with Netflix even though the animated series has been cancelled. One of them is a sports documentary entitled Heart of Invictus.
As reported, Netflix lost about 200,000 paid subscribers in its latest financial report and cut the company’s valuation to $50 billion. Even Netflix predicts it could lose up to 2 million paid subscribers in the second quarter.
The unsatisfactory news was immediately responded negatively by investors. Netflix’s stock price had dropped dramatically to 35%. That makes Netflix’s market cap decline.