Netflix cancels Meghan Markle’s series ‘Pearl’ due to cuts

Netflix is ​​expanding its reach for mobile gaming.

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Netflix has canceled the development of “Pearl,” an animated series created by Meghan, Duchess of Sussex, which marks the latest cost-saving move after the company reported a disappointing first quarter.

The cancellation is part of the strategic decisions Netflix is ​​making around animated series, the company told CNBC. “Pearl”, which was announced last year, is among several projects to be dropped.

The streamer said it will continue its work with the Duke and Duchess of Sussex’s Archewell Productions on a number of projects. The production company signed a multi-year deal with Netflix in 2020 to make documentaries, documentaries, feature films, screenplays and children’s programs.

Netflix has come under pressure as more competitors enter the space and fight for users’ time. Thus, the company has spent billions on its content.

In its most recent quarter, the company reported its first decline in paid users in more than a decade, warning of problems ahead. Netflix CFO Spencer Neumann said the company is “pulling” some of its spending on movies and TV series back to help with revenue growth.

The cancellation of “Pearl” comes after Netflix reportedly fired an unknown number of employees on their entertainment site.

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