The series was to explore the adventures of a 12 year old girl inspired by famous female historical figures. Meghan Markle was to serve as executive producer for this series, alongside filmmaker David Furnish, who is also married to music icon Sir Elton John.
Both Markle and her husband Prince Harry had agreed a multi-million dollar deal with Netflx in 2020. Pearl was one of two projects that were announced as part of the couple's deal with the streaming service.
It is understood that this animated series was cut by Netflix, as part of several strategic decisions taken regarding animated shows.
This also comes as Netflix also reported a drop of 200,000 users on the site over the past year. Their share value has also been cut in half over the last 6 months.
Netflix has been suffering due to the rise in competition, with the emergence of the likes of Amazon Prime, Disney, along with the reopening of cinemas.