Meghan Markle has declared her downgraded Netflix deal is a “sign of strength” – a claim insiders tell RadarOnline.com is a “delusional spin” after the Duchess of Sussex’s once-lucrative $100million agreement was quietly replaced with a lower-tier contract.

Speaking at Fortune’s recent Most Powerful Women Summit in Washington DC, Markle said the new “first-look” deal – which gives Netflix the option to buy her projects before she shops them elsewhere – was a positive move that reflected her and Prince Harry’s “flexibility” as creators.

Meghan Spins Her Netflix Downgrade as a Win

Photo of Meghan Markle

Source: MEGAMeghan Markle called her downgraded Netflix deal a sign of strength.

The revised deal, struck in August, replaced the couple’s original 2020 contract, which had produced mixed results and led to months of speculation over whether Netflix would renew the partnership at all.

“My husband and I were in an overall deal with Netflix then, not dissimilar to Higher Ground and the Obamas’ deal,” Meghan said.

“Once that had come to its term, the extension of it – which was such an incredible sign of the strength of our partnership – was now being in a first-look deal. Which is also exciting because it gives us flexibility to go to our partners first, then at the same time, shop content that might not be the right fit for Netflix but has a home somewhere else.”

Insiders Call the Move a Major Step Down

Photo of Meghan Markle

Source: NETFLIX/YOUTUBENetflix replaced the couple’s $100million deal with a smaller contract.

But industry observers say Markle’s upbeat framing doesn’t match reality. One Hollywood source said: “It’s a clear step down. Netflix is keeping tight control now. They’re being paid to bring in ideas, not to run big productions. Trying to frame that as strength is pure wishful thinking. Meghan is kidding herself.”

Under their original multimillion-dollar deal, the Sussexes delivered several projects for the streaming giant, including With Love, Meghan, a lifestyle series featuring the Duchess cooking and chatting with celebrity guests such as Mindy Kaling and Chrissy Teigen.

The show premiered in March to moderate viewership, followed by a second season in August.

When asked at the summit whether the series would return for another season, Markle teased: “Well, the holiday special is coming out in November. It’s a really good one.”