Meghan Markle’s cartoon series Pearl has been cancelled by Netflix

To save money, Netflix has cancelled the development of Pearl, an animated series developed by Meghan Markle.

The show, which was announced last year, is one of several projects that the streaming behemoth has cancelled.

Last month, Netflix announced a dramatic drop in members, warning that millions more were on the verge of abandoning the service.

The company’s market value plummeted by more than $50 billion, and analysts warned it would be difficult to get back on track.

Meghan will serve as an executive producer on Pearl, according to Archewell Productions, the firm founded by the Duke and Duchess of Sussex.

The series was supposed to follow the exploits of a 12-year-old girl who is inspired by historical figures.

Netflix did clarify, however, that it will continue to collaborate with Archewell Productions on a variety of projects, including a documentary series called Heart of Invictus.

The series will centre on athletes competing in the Invictus Games for injured veterans, which will be held in The Hague in 2022 and was founded by Prince Harry.

Netflix also announced that two animated children’s series, Dino Daycare and Boons and Curses, would be cancelled.

Netflix announced in April that its overall number of subscribers had fallen by 200,000 in the first three months of this year, far short of its goal. It also predicted that two million more subscribers would abandon the service in the three months leading up to July.

Some analysts are worried that the company has run out of easy methods to build the business after a period of rapid expansion during the pandemic.

Consumers on a budget are cutting back on streaming services to save money, while others say there is too much content to choose from, despite tough rivalry from businesses such as Disney and Amazon.