Netflix cost cuts lead to Meghan Markle animated series 'Pearl' being axed

Streaming giant Netflix has cancelled the development of 'Pearl', an animated series created by Duchess of Sussex Meghan Markle, in its move to cut costs.

The show, which was announced last year, is one of several projects being dropped by the streaming giant, the BBC reported.

Last month, Netflix revealed a sharp fall in subscribers and warned millions more are set to quit the service.

Archewell Productions, the company formed by the Duke and Duchess of Sussex, announced last year that Meghan would be an executive producer of 'Pearl'.

The series was planned to centre on the adventures of a 12-year-old girl, who is inspired by influential women from history.

Netflix did, however, confirm that it will continue to work on a number of projects with Archewell Productions, including a documentary series called 'Heart of Invictus', said the BBC report.