Netflix have decided to drop Meghan Markle's animated series that was announced last summer.

The Duchess of Sussex, Meghan Markle, was due to be the creator and executive producer of the "family series", titled 'Pearl', that focused in a 12-year-old girl inspired by historically influential figures.

Meghan said she was excited during the announcement of Pearl last summer:

"Like many girls her age, our heroine Pearl is on a journey of self-discovery as she tries to overcome life's daily challenges," she said.

"I'm thrilled that Archewell Productions, partnered with the powerhouse platform of Netflix and these incredible producers, will together bring you this new animated series, which celebrates extraordinary women throughout history.

"David Furnish and I have been eager to bring this special series to light."

The decision by Netflix is believed to be due to the streaming Giant's cutbacks as they recently revealed their struggle with slumping subscriber numbers and a major decrease in their share value.The cancelation of Meghan Markle's show is understood to be just one of the Netflix's big cutbacks.Entertainment industry website, Deadline, reported that Meghan was still co-executive producing with David Furnish, who is married to Elton John. The report read:

"Word in town is that even before recent events, Netflix had been telling producers to take some development projects elsewhere,"

"Clearly, Netflix's inordinately high content spend is being revaluated. It is just unreasonable to expect its execs to manage that many projects, and have enough of them turn out to be memorable."

It is unclear whether or not Meghan will be able to produce the show elsewhere.

Other projects with Netflix, such as the documentary series Heart of Invictus, about Prince Harry's Olympics-style Invictus Games for disabled former service members, are still going ahead at this stage.

The royal couple, who now live in Montecito, California, signed a multi-year deal with Netflix in September last year.