Meghan Markle and Prince Harry signed on this week to become Hollywood producers for Netflix, earning the couple somewhere between $100 million to $150 million. The Duke and Duchess of Sussex, who officially left life as senior working royals in April, will produce documentaries, docu-series, scripted series and children’s programming for the streaming giant. The huge pay day “comes at the right time,” according to ITV News Royal Editor Chris Ship, who pointed out the mounting bills the couple faced.
ABC News Foreign Correspondent Maggie Rulli said the recent splurge on an £11million mansion in Santa Barbara played a “major part” in signing the Netflix deal.
ITV Producer Lizzie Robinson went on to list the vast numbers of expenses that the royal couple had accumulated in recent months.
Ms Rulli said: “Netflix will be a nice pay day. That was a major part of it, I think.
“They have a huge house they now have to pay for, and supposedly it is not coming from Prince Charles anymore.”
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Harry and Meghan’s huge Santa Barbara mansion includes a whopping 16 bathrooms and nine bedrooms.
Ms Robinson added: “It is not just this mansion they have to pay for, which they have a whopping great mortgage on, reportedly £7.5million.
“They also said they would replay the money for the renovation for Frogmore Cottage which was £2.4million.
“They have to pay rent on that, plus running costs and security bills.”
Mr Ship added: “Netflix has come at the right time for them.”
Ms Robinson responded: “They will make a lot of money but they need a lot of money to pay for all these things.”
Media analyst Claire Enders said that the deal could “guarantee” payments to the couple for the next five years.
She told ITV News: “It is a powerhouse. It can guarantee payments to the Duke and Duchess of Sussex for five years if that is necessary.
“They tend to do five year deals with important stars.”
ITV’s Chris Ship noted that the couple’s deal follows in the footsteps of Prince Harry’s friend and former US President Barack Obama, who also has a deal with Netflix.
When the Duke and Duchess left the Royal Family in January, Buckingham Palace said that the couple had “made clear that everything they do will continue to uphold the values of Her Majesty”.