Harry and Meghan 'face long-term financial challenges' as desperation grows

09 January 2024 , 08:32

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Prince Harry and Meghan Markle are facing a make or break (Image: 2022 Getty Images)

Meghan Markle and Prince Harry are struggling after they were "utterly unsuccessful" in their attempt to "relaunch themselves", according to an expert.

The Duke and Duchess of Sussex signed a number of lucrative deals after stepping down from the Royal Family as they worked to become financially independent. However, their exclusive $25million (£19million) partnership with Spotify was axed last year, with the couple being branded "f***ing grifters" by one Spotify executive.

There were also rumours that Meghan and Harry's deal with Netflix was at risk. It was reported that they were asked to come up with "more great ideas" if they wanted to take home £40million in outstanding fees.

READ MORE: The real reason Meghan Markle wasn't invited to the Suits reunion at the Golden Globes

Meghan Markle and Prince Harry are thought to be in trouble (Peter Dejong/AP/REX/Shutterstock)

However, a Netflix spokesperson said the couple's deal isn't ending "anytime soon". They said: "The bond with Archewell Productions is one we deeply value. Harry & Meghan launched as Netflix's most spectacular documentary debut to date. Our exciting journey with them isn't ending anytime soon."

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Royal author Tom Bower isn't convinced though and has said Meghan and Harry have "failed in Hollywood". Speaking to Closer magazine, he explained: "They've got no new income streams, no new companies - everything they've attempted to do to relaunch themselves I think in the end has been utterly unsuccessful and has failed."

He suggested the Duchess of Sussex has been quiet about her future career because she is "trying to find a new role". The former actress signed with Hollywood talent agency William Morris Endeavor (WME) last April. Since then, Meghan is yet to announce any new projects.

The Duchess of Sussex has hinted about some new projects (Getty Images)

She has teased there are exciting projects her and Harry have in the pipeline as part of their comeback. Speaking to Entertainment Tonight, she said: "We have so many exciting things on the slate. I can't wait until we can announce them, but I'm just really proud of what we're creating," Meghan didn't reveal exactly what the projects are.

Tom believes the couple's "desperation" to find their new career could continue into 2024 if they fail to make any announcements soon. He also said they were unfortunately "tarnished" after being slammed by Spotify executive Bill Simmons.

Despite the challenges, Tom said Meghan and Harry are "trying so hard". However, he warned they could face "long-term financial challenges" if they are unable to boost their careers.

Scarlett O'Toole