Prince Harry And Meghan Markle Could Haul In $15 Million Book Contract, Netflix Deal, ‘Vanity Fair’ Reports
As they face the prospect of earning their own income to support their jet-setting lifestyle, which could run about $780,000 per year in security costs alone, Britain’s Prince Harry and his American wife, Meghan Markle, reportedly will copy the “Obama playbook” to generate cash.
The “playbook” could include streaming content deals with services such as Netflix and Spotify, as well as “stadium tours” and publishing deals, according to a report published Wednesday by Vanity Fair.
As further noted, the couple — who announced that they will step down from all duties as members of the British royal family — may actually prove more “valuable” than former President Barack Obama and his wife, Michelle Obama, in the entertainment marketplace.
“They are 100 percent more valuable than the Obamas,” the magazine quoted one London-based talent agent as saying. “The Obamas aren’t royal. They are.”
But a highly placed Hollywood source who spoke to Vanity Fair did not see it that way, calling the 44th president a “world-class rock star” and the former United States first lady “a proven public intellectual.” The insider said that the Obamas are “filled with knowledge and the ability to communicate.”
As for the Duke and Duchess of Sussex, the aforementioned source told the magazine, “what do they know about anything?”
Netflix Chief Content Officer Ted Sarandos, however, apparently believes that the erstwhile royals do, in fact, know something. According to a Business Insider report, the exec has already declared himself “interested” in working out some sort of a deal with Harry and Meghan.
In 2018, Netflix struck a production deal with the Obamas that is estimated to be worth approximately $50 million, the publication reported.
An eight-figure deal for a tell-all memoir could also be in the works for the now-Canada-dwelling royal couple, according to the Vanity Fair report. But according to one publishing executive who spoke to the magazine, only the prince could command an advance as high as $15 million.
According to the industry source, there “might not be enough there” for a solo autobiography by Meghan. They added that a jointly-written book may be negatively perceived as “tacky and opportunistic.”
As part of their so-called “Megxit” from the royal family, Harry and Meghan have already committed to repaying $3.1 million spent by British taxpayers to renovate their Frogmore Cottage home.
The couple also agreed to give up taking all public funds. In 2019, the total value of the “Sovereign Grant” — the amount of public funding allocated to the entire royal family — was $107.1 million, according to a Wall Street Journal report.