Netflix canceled production on “Pearl,” an animated series from Meghan, the Duchess of Sussex, in the company’s latest move to cut costs after it reported a disappointing first quarter.
“Pearl” is one of several kids animated series that Netflix canceled, including titles like executive producer Chris Nee’s “Dino Daycare” and Jaydeep Hasrajani’s “Boons and Curses.”
The streaming juggernaut said it would continue to work on projects with Prince Harry and his wife’s production company, Archewell Productions, including the upcoming documentary series, “Heart of Invictus.” In 2020, the couple signed a multiyear deal with Netflix to produce films, shows and documentaries.
The cancellation comes just several weeks after Netflix said it would be “pulling back” spending on its films and TV shows.
“We’re pulling back on some of our spend growth across both content and noncontent spend,” CFO Spencer Neumann said in a recorded interview last month.
“We’re trying to be smart about it and prudent in terms of pulling back on some of that spend growth to reflect the realities of the revenue growth of the business.”
The move also comes just days after the company reportedly laid off several staff members from its editorial website, Tudum, which publishes news, interviews and content about some of Netflix’s most popular TV shows and movies.
Source: | This article originally belongs to Nbcnews.com
