Netflix cancels Meghan Markle's animated series 'Pearl'

May 2 (UPI) -- Netflix has canceled Pearl, an animated series that was in development from creator Meghan Markle.

The cancelation comes after Netflix shares plunged in April after the streaming service announced a drop in subscribers.

Netflix told CNBC that the cancelation is part of strategic decisions the company is making on animated content.

Pearl was set to follow the adventures of a 12-year-old girl who finds inspiration from influential women throughout history.

Markle and Prince Harry signed a multi-year deal with Netflix in September 2020 to develop documentaries, feature films, scripted televisions series and children's shows.

Netflix will continue to work with the duke and duchess of Sussex through their Archwell Productions company.