Netflix Demands Refund from Meghan and Harry Over Failed Productions

Streaming giant Netflix is demanding a refund from Meghan Markle and Prince Harry after the couple failed to deliver on their promised productions.

This comes after Netflix faced a similar situation with filmmaker Carl Eric Rinch, who misused the company's investment on risky stock trading and investments.

The streaming service burned more than $40 million on Rinch's show, without receiving a single finished episode.

According to insiders, Netflix gave Rinch near total budgetary and creative freedom for his sci-fi show, but the project never materialized.

Now, the filmmaker has initiated a confidential arbitration proceeding against Netflix, claiming breach of contract and seeking at least $14 million in damages.

In response, Netflix insists that it owes Rinch nothing and even wired his production company an additional $11 million, bringing the total investment to over $155 million.

The troubles for Netflix don't end there.

The streaming service is now also demanding a refund of the upfront fee from Meghan and Harry.

In September 2020, the couple signed a five-year, $100 million contract with Netflix to produce various content.

However, their documentary and Harry's Invictus project failed to meet expectations, leaving Netflix with no new content to showcase.

The company claims that the couple has not started production on any other projects and has not fulfilled the agreed-upon principles.

Royal expert Neil Sean suggests that the $100 million deal has put Meghan and Harry in a difficult position, as Netflix is seeking answers regarding their future content.

While Rinch wasted the investment on stock options, the couple's expenses reportedly went towards celebrity security teams and numerous tabloid articles.

Subscribers to Netflix are indirectly paying for these expenses, resulting in increased subscription rates.

In the UK, the most expensive service will now cost £17.99 per month, while in the US, it will be $23.

Comparing the Netflix deal with the Kardashians' recent $100 million deal with Hulu, it becomes clear that the Harkles are unlikely to make the same amount.

The Kardashian deal will be split among the entire cast, making the individual earnings significantly less.

Additionally, the Harkles currently have no other projects announced, making the estimated worth of their Netflix deal uncertain.

If they fail to produce the required revenue and continue delaying new content, they might be obligated to return the advance payment.

In conclusion, Netflix finds itself in a precarious position with both Carl Eric Rinch and Meghan Markle and Prince Harry.

The failed productions and lack of new content have led the streaming service to demand refunds and seek answers regarding future projects.

The financial implications for Netflix and the couple remain uncertain, but it is evident that the promised $100 million deal might not be as lucrative as initially anticipated.