In a surprising turn of events, Prince Harry and Meghan Markle’s movie project, Karma, has been rejected by Netflix.

The streaming giant recently inked a multi-year deal with renowned filmmaker Mike Flanagan, leaving the Sussexes’ film idea on the backburner.

Rumors had been circulating that Harry and Meghan were in talks with Netflix to produce a feature-length film centered around royal life.

The couple aimed to share their personal experiences of living inside the palace, drawing inspiration from Netflix’s announcement of a film focusing on Prince Andrew’s infamous car crash BBC interview with journalist Emily Maitlis.

However, a source close to the platform revealed that Meghan’s negotiations with Netflix were turned down due to the new deal with Mike Flanagan and Trevor Macy.

This agreement solidifies their longstanding seven-year partnership, which has already produced six movies under the Intrepid Pictures banner.

Exclusivity contracts hold significant value in the industry, and Mike Flanagan is no stranger to them.

He is paid exclusively by Netflix to create content solely for their platform.

On the other hand, Meghan and Harry do not have such a deal.

Their production company, Archwell, is responsible for creating content for Netflix.

This means that projects like “Uvalde” are entirely separate from Netflix productions.

When it comes to producing content for Netflix, a production team pitches their ideas to the streaming service.

If the project is approved, they receive a budget and proceed with filming, while Netflix keeps a close eye on the progress and sets deadlines.

Once the final product is ready, Netflix decides whether or not to host it on their platform.

Post-production responsibilities still fall under Archwell’s purview, while Netflix handles the crucial marketing aspect.

Successful collaborations between Netflix and production companies often lead to long-term relationships, with deals potentially worth millions of dollars.

While the exact amount of the deal between Netflix and Mike Flanagan remains undisclosed, estimations suggest it could be around $200 million.

However, it’s important to note that this amount is not guaranteed upfront but rather reflects the potential value of the partnership.

As for shelving projects, it ultimately depends on the agreement between Netflix and the production company.

Netflix has the option to shop a project around to other networks if they choose, as Meghan did with her pitch for the show “Pearl.”

In another unexpected development, Netflix in the United States plans to stream multiple seasons of the hit legal drama “Suits” starting in June 2023.

While it’s anticipated that all nine seasons will be available, an official confirmation is still pending.

This news adds to the growing list of licensed content available on Netflix.

Interestingly, there have been reports that Meghan desires a share of the profits from the movie project in which she appears as a character.

However, given her position as the sixth actor on the call sheet, her residuals are expected to be minimal.

It appears that Harry and Meghan have already reaped financial rewards from their Netflix docuseries, which premiered on the platform in late 2022.