Meghan Markle is the latest victim of Netflix's recent poor financial results - the Duchess of Sussex's planned animated series Pearl has reportedly been "quietly" axed.
The series was set to follow a 12-year-old girl who found inspiration in the stories of famous women throughout history, but as the streaming giant looks to improve dismal recent financial performance, Deadline reports the show has been cancelled.
However, Markle will likely still work with Netflix as her and husband Prince Harry's partnership with the company will continue, with documentary series Heart of Invictus still planned to go ahead.
Deadline's report called the cancellation of Pearl an "undesirable royal flush", but added: "It is worth noting that the project was still in the development stage, and... Markle has spent enough time in Hollywood as an actress to have heard the word 'no' in the past."
When Pearl was announced in 2021, Markle released a statement sharing how excited she was about it.
"Like many girls her age, our heroine Pearl is on a journey of self-discovery as she tries to overcome life's daily challenges," the Suits star said.
"I'm thrilled that Archewell Productions, partnered with the powerhouse platform of Netflix and these incredible producers, will together bring you this new animated series, which celebrates extraordinary women throughout history. [Executive producer] David Furnish and I have been eager to bring this special series to light, and I am delighted we are able to announce it."
Last month, Netflix announced a decline in subscribers that caused its stock price to fall by 35 percent, leading to declines in the shares of several other streaming and media companies as well.
As well as reportedly axing some projects, Netflix is looking to become more profitable by trialling restrictions on password sharing among its subscribers, as well as investigating an advertising-supported version of its service.
