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Katie Nicholl, the royal editor of Vanity Fair, added that Harry and Meghan’s annual spending could be as much as $20million a year.
She said: “I was speaking to someone in Montecito who said you can’t live in Montecito the way they’re living without it costing about $20million a year.”
This week, Bela Bajaria, Netflix’s chief content officer, confirmed that Harry and Meghan will once again be working with the streaming giant.
She said: “Oh, what are they working on? They have a couple of unscripted things they’re working on with Brandon [Riegg]. And they actually have, like, a bunch of development: they have a movie in development, a [scripted] series that they’re working on.
“So all very early development, with a movie, a TV show, and a couple of unscripted shows. But yeah, the movie’s great.”
The Sussexes’ relationship with Netflix remains strong, but they cut ties with Spotify last year after Meghan released just 12 episodes of her podcast ‘Archetypes’ as part of a £15million deal.
Bill Simmons, head of podcast innovation and monetisation at Spotify, later labelled Harry and Meghan “grifters”.