Still perhaps their most lucrative deal yet, the couple signed a five-year, $100 million contract with Netflix in September 2020 to produce documentaries, docuseries, feature films, scripted shows and children's programming.
Netflix reportedly paid £88 million ($100million) for Harry and Meghan's bombshell docuseries as part of a multi-year deal with the streaming giant.
The couple have produced just one series under their Archewell Audio podcast imprint since inking the agreement in 2020 for a reported US$20m (£15.6m or A$29.1m).
Prince Harry and Meghan Markle signed an estimated $100 million deal with Netflix for their bombshell docuseries “Harry and Meghan,” according to reports by Forbes.
In late 2020, Archewell Audio signed a deal with Spotify to host and produce podcasts and other content that “uplifts and entertains audiences around the world,” reportedly worth $25million (£21million).
In a 24-page impact report released to the Archewell foundation website, the Sussexes claim the money went towards delivering COVID-19 vaccines, assisting Afghan and Ukrainian refugees relocating to the United States and building a playground for survivors of the Uvalde school shooting.
Archewell gives 80% of its expenses to charity
This ensures that 80 percent of total expenses go towards their programs, while 20 percent or less is spent on administrative costs.
The Duke and Duchess of Sussex have founded a yet-to-be-named production company and signed a multiyear deal with Netflix, which will pay them to make documentaries, docu-series, feature films, scripted shows and children's programming — giving the couple a global platform six months after their dramatic decampment ...
In a statement, the Duke and Duchess of Sussex insisted the split was a 'mutual' decision between the couple and the streaming giant. But the ditching of the podcast now means the royal pair's last major surviving deal is the £81million ($103.6million) with Netflix.
Prince Harry and Meghan Markle have an estimated net worth of $60 million, according to Celebrity Net Worth. The couple has signed a series of lucrative deals including documentaries, books, podcasts and more, worth an estimated total of $135 million, according to Forbes.
The Sussexes did not meet the “productivity benchmarks” needed to get the full payout from the deal by the time it ended, according to sources cited by the Journal.
Bill Simmons, who is head of podcast innovation and monetisation, criticised the pair after it was announced they were being dropped by Spotify for reportedly not creating enough content.
The tax returns come after the foundation's first Impact Report was released in January, showing that the Sussexes non-profit organisation donated $3 million of the $13 million raised. The money raised was given away to causes including refugee resettlement and humanitarian relief centres.
Harry is widely reported to have secured £16 million ($20 million) last year as an advance. He paid ghostwriter JJ Moehringer $1million for the book. He said that 'proceeds' from the book will go to UK charities.
The book, “Spare” is ghost-written by JR Moehringer and is about Prince Harry's life, military service, and role within the royal family. Before the release date, he will receive £17.5 million, or approximately $20 million. This income will significantly add to Prince Harry's net worth.
The series has received the highest UK viewing ratings for any Netflix show in 2022. According to BARB, its first episode recorded 2.4 million views during its first day on Netflix.
Part one of Prince Harry and Meghan Markle's Netflix documentary debuted with 81.55 million hours viewed – making it the highest viewed documentary premiere for the streaming platform. Netflix says 28 million households have viewed the show so far.
Although they were well off by ordinary standards, Forbes last year pegged their net worth at a fairly modest $10 million, including the remains of Harry's inheritance from his mother, Princess Diana, and the equity the pair have in their California mansion.
Her most popular role was on the television show Suits, where she played a character named Rachel Zane from seasons 1 to 7. Meghan made $50,000 per episode on the series, according to Cheat Sheet.
The substantively larger donation of $10 million came to Archewell via the Silicon Valley Community Foundation (SVCF), according to SVCF's 2021 IRS documents, otherwise known as its Form 990.
The group includes the Duke and Duchess' nonprofit charitable foundation, as well as their lucrative for-profit business divisions focusing on media production, Archewell Audio and Archewell Productions.
Prince Harry, Meghan Markle work 1 hour a week for $13M Archewell charity: tax docs.
The Duke and Duchess of Sussex have lived in the US since stepping down as working royals, in 2020. Prince Harry and Meghan no longer receive money from the Royal Family and have a series of commercial arrangements with a number of companies.
Do The Duke and Duchess of Sussex earn income? No, under the current structure and financing arrangements, they are prohibited from earning any income in any form.