Prince Harry and Meghan Markle have signed a new multi-year first-look deal with Netflix through their media company, Archewell Productions, continuing their partnership that began in 2020. The renewed agreement allows Netflix first refusal on their film, television, and documentary projects but is reportedly less lucrative and more flexible than their initial deal, which was valued at around $100 million to $150 million. The new contract does not include exclusivity clauses, giving the couple more freedom in their creative endeavors. Netflix has acknowledged the partnership will proceed on more limited terms, and insiders suggest that the deal is a downgrade compared to the original blockbuster agreement. Despite the scaled-back nature of the contract, Harry and Meghan remain committed to producing content for the streaming platform, including the second season of Meghan’s series "With Love, Meghan." Industry observers note challenges Netflix faces in fully utilizing the Sussexes' brand, and some have described the renewed deal as less financially rewarding for the streaming giant. The couple has publicly addressed the terms of the agreement, emphasizing their intent to create thoughtful content under this new arrangement.