The royal family faced a massive financial blow earlier this year as a result of the health crisis.
It came after the monarchy was hit by a $44.5 million loss and to compensate for the situation, the royal collection shop has been, reportedly, selling various collectibles to cover the income losses.
Prince Harry, Meghan Markle praised over their Megawatt Netflix deal
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This afternoon, The Duke and Duchess of Sussex attended the annual Commonwealth Service at Westminster Abbey on Commonwealth Day, alongside Her Majesty The Queen and Members of The Royal Family. The Commonwealth is a global network of 54 countries, working in collaboration towards shared economic, environmental, social and democratic goals, and the Service today seeks to highlight the vast community which spans every geographical region, religion and culture, embracing diversity amongst its population of 2.4 billion people, of which 60 percent are under 30 years old. As President and Vice-President of the @Queens_Commonwealth_Trust, The Duke and Duchess of Sussex have been passionate advocates of the Commonwealth having spent many years working closely with the next generation of Commonwealth leaders. The theme of the Commonwealth for 2020 is ‘Delivering A Common Future: Connecting, Innovating, Transforming’, placing emphasis on youth, the environment, trade, governance, and ICT (Information and Communications Technology) and innovation. From working to protect the earth’s natural resources and preserving the planet for generations to come, to championing fair trade and empowering the youth of today to transform the communities of tomorrow, the Service celebrates the Commonwealth’s continued commitment to delivering a peaceful, prosperous and more sustainable future for all. Photo © PA
Following this, royal expert Robert Lacey, who is the author behind the book “Battle of Brothers: William and Henry: The Inside Story of A Family in Tumult,” claimed that the monarchy has “stooped to all sorts of commercial devices,” while Prince Harry and Meghan Markle have signed their megawatt deal with Netflix.
In his interview with The Express UK, the royal author praised the Sussexes’ brilliant move to seal the deal with the streaming giant.
“They are going to make a lot of money for making a group of rather worthy, and perhaps even boring, documentaries for grown-ups and children. It is perfectly respectable.”
In September, news broke that the former royals signed a multi-year deal with Netflix that would cover various documentaries, children’s programming, docuseries, movies, and scripted series.
The said content will be produced under their untitled production company.
Moreover, Us Weekly noted that the deal between the Sussexes and the California based streaming giant is worth more than 100 million.
“Quibi had a huge offer out to Meghan Markle that was in the tens of millions. Netflix swooped in, and their production deal is worth over 100 million,” a source revealed to the outlet.
Royal family selling “Commercial Devices” amid financial loss
On the other hand, Lacey pointed out how the royal family leaned towards selling memorabilia at the Buckingham Palace shop while the Duke and Duchess are planning their multi-million deal.
“And actually, it is Buckingham Palace’s shops that sell shower caps with the Royal Coat of Arms, Buckingham Palace gin; Prince Charles sells Duchy biscuits…so it’s the pot calling the kettle black. The monarchy has stooped to all sorts of commercial devices.”
The British outlet also mentioned that the Royal Collection Shop has begun selling souvenirs such as liquors made out of flowers and herbs picked directly in the gardens of the Queen’s residence in London.
With this initiative, the royal expert noted that this is said to be beneficial on the part of the taxpayers and the monarchy.
He explained that this would bring more funds into the royal family’s income without sacrificing the Sovereign Grant.
Featured image courtesy of Wikimedia Commons