Netflix CEO Ted Sandos has privately expressed disappointment with the performance of Megan cooking show, Marco’s Pet Project.

The show, which cost $8 million per episode to produce, has failed to crack the platform’s top 50 shows globally since its debut three weeks ago.

Sandos put his personal reputation on the line for the couple, repeatedly assuring board members and shareholders that their content would deliver both prestige and viewership.

The fallout from this disaster has far-reaching implications for the Sussex deal with Netflix, which was initially signed in 2020 for a reported $100 million. The agreement has yielded surprisingly little content with only a documentary series about the couple at achieving significant viewership.

Netflix executives are now engaged in heated internal debates about how to salvage their investment. There is serious talk about either renegotiating the deal at a much lower figure or finding a way to quietly phase it out altogether.

The situation represents a rare misstep in an otherwise stellar career known for his savvy content acquisitions and talent relationships. Sandos appears to have overestimated the couple’s appeal beyond their initial post-romance family novelty. The Fallout has been particularly brutal on social media, with clips from the show being mercilessly pared.

The failure highlights a fundamental miscalculation about Megan Moel’s public persona, as there is always a disconnect between how she sees herself and how the public perceives her. The cooking show debacle has also renewed scrutiny of the couple’s other business ventures, including their Auu foundation and various commercial partnerships.

Netflix’s recent cost cutting measures and increased focus on profitability have further complicated the situation.