Los Angeles, May 2 (IANS): 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.

The series will focus on athletes competing in the Invictus Games for injured veterans, an event founded by Duke of Sussex Prince Harry, in The Hague in 2022.

Netflix also said that it had decided not to move forward with two animated children's series 'Dino Daycare' and 'Boons and Curses'.

According to the BBC, Netflix said last month its total number of subscribers had dropped by 200,000 in the first three months of this year, falling well short of its target.

It also warned that some two million more users were likely to quit the service in the three months to July.