The deal, which involved Markle's Archetypes podcast under their production company Archewell Audio, produced only one season before its cancellation. The decision coincides with Spotify's restructuring of its podcast division, which resulted in layoffs earlier this month.
In a joint statement, Spotify and Archewell Audio expressed mutual agreement in parting ways, while expressing pride in the series they had created together.
The Duke and Duchess of Sussex initially signed with Spotify in December 2020, with Spotify aiming to amplify underrepresented voices through the collaboration.
The podcast deal yielded a single series, Archetypes, hosted by Markle, which premiered in August 2022. The show featured interviews with notable guests such as Serena Williams, Mariah Carey, Mindy Kaling, Paris Hilton, and Trevor Noah. Following its debut, Archetypes quickly became the top podcast on Spotify and even won a People's Choice Award in December. However, sources cited by Variety suggested that Spotify had expected more content from the deal.
Reports indicate that Harry and Markle are now seeking a new platform to continue sharing their audio content. A representative from Markle's talent agency, WME, stated that she is actively developing additional content for the Archetypes audience on another platform.
The termination of the Spotify deal with the Sussexes is separate from Spotify's recent reorganization and layoff of approximately 200 employees in its podcasting division. While the exact value of the Archewell Audio deal remains uncertain, industry sources estimated it to be around $15-18 million to $25 million. It is noted that the Sussexes did not meet the required productivity benchmarks to receive the full payout by the contract's end.
This is not the first high-profile podcasting deal that Spotify has ended, as the company also chose not to renew its agreement with Barack and Michelle Obama's Higher Ground media company in April 2022. The Obamas subsequently signed a new deal with Audible.
Prince Harry and Meghan Markle stepped down as working members of the royal family in early 2020, relocating to California amid tensions with the Palace and concerns over privacy. The Spotify agreement was part of their broader transition into media content creation in their post-royal life, which also includes a $100 million contract with Netflix and the upcoming release of Harry's memoir, Spare.
The conclusion of Archewell's Spotify deal comes at a time when the podcasting industry is facing challenges following a surge of interest.
According to Chartr data released in February, the number of new podcasts dropped by 80% in the past year compared to the previous two years. Furthermore, US podcast listenership only increased by 5% in 2022, as reported by Insider Intelligence. Spotify's recent layoffs come after the company canceled ten original podcasts in October 2022 and laid off approximately 38 podcast employees.
