Netflix co-CEO Reed Hastings has opened up about the streaming service’s new multi-year deal with Prince Harry and Meghan Markle, and why he thinks the couple made the right decision.
On Wednesday, Hastings appeared on CNBC, where he said he is “so excited” about the deal that will see Meghan and Harry make documentaries, docu-series, feature films, scripted shows and children’s programming exclusive for Netflix.
“It's gonna be epic entertainment - so excited about that deal," Hastings said.
Hastings then went on to praise the couple for being “smart” and not accepting the first offer they received.
As of now, it is not clear how much the duke and duchess are making with the deal, although there have been reports the amount is around $100m.
“They're smart - they were shopping it around across all of the major companies, and I think we really put together the best complete package, and we're going to do a wide range of entertainment with them,” Hastings said, adding that he believes the duke and duchess’s new shows will be “some of the most exciting, most viewed content next year.”
During the appearance, the Netflix CEO also confirmed that viewers should not expect to see the former Suits star on the screen, as the couple will be taking on more of a production role.
"The real focus for them is on being producers and on building a production capacity, so that's the key thing," he said. "They've developed a great eye for story, and we'll be working with them on that basis."
When announcing the deal earlier this month, the royal couple said their new endeavour would be focused on “creating content that informs but also gives hope”.
"Our lives, both independent of each other, and as a couple have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection,” Meghan and Harry said in a statement. "Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope.
“As new parents, making inspirational family programming is also important to us, as is powerful storytelling through a truthful and relatable lens.”
The couple’s new deal with Netflix comes after they announced in January that they would be stepping back from their roles as senior members of the royal family and would be seeking financial independence.
After signing the deal, the duke and duchess, who recently moved to California with their son Archie, paid back the $3.1m of taxpayer’s money used to renovate their royal residence, Frogmore Cottage.
