The multi-million pound Spotify deal with Meghan Markle came to an end in June following a mutual decision reached between the streaming giant and Archewell Audio, the production company co-founded by the Sussexes.
Sources close to this substantial deal, inked by the royal couple back in 2020, disclosed that it was terminated because Harry and Meghan failed to deliver a sufficient amount of content to justify the full payout. Spotify's CEO, Daniel Ek, elaborated further on the decision not to renew the contract with Harry and Meghan, stating that the podcast venture simply didn't yield the expected results. In an interview with the BBC, Ek explained, "We thought new innovation was needed to happen here.
We thought we could come in and offer a great experience that both makes consumers very happy and allows new creators new avenues." He went on to say, "And the truth of the matter is, some of it has worked, some of it hasn't. We'll learn from those, and we're moving on, and we wish all of the ones we didn't renew with the best of success going forwards."
It's worth noting that, despite this, Spotify consistently touted Archewell Audio's performance as a success, although some questioned the reliability of their podcast performance data.
The discussion with Ek took place with the BBC's Zoe Kleinman, who inquired whether the 12 podcasts produced by the Sussexes over two and a half years justified the staggering sum of 18 million pounds. Ek's response was characterized as diplomatically phrased.
Interestingly, Daniel Ek is not known for conducting frequent interviews, and the Harry and Meghan deal is perceived as one of several unprofitable missteps by Spotify, according to an insider. It was also reported that Spotify did not make the full payment upfront. The 12 million pounds were meant to cover three years, and Meghan would have received an advance against which production and promotion costs had to be deducted. This could potentially explain the year-long legal dispute that followed. Some speculate that Meghan might have netted only one to two million pounds after factoring in production and promotion expenses. Consequently, there is speculation that they may be in debt or close to it, as it is highly unlikely that they amassed the substantial earnings they claimed.
Meghan had announced her podcast deal in December 2020, shortly after her and Harry's departure from the royal family. However, some have speculated that negotiations for these deals might have started while they were still part of the royal family. Their reputations would have been significantly different at that time, and the highly publicized Oprah interview had not yet occurred. Securing such unprecedented access to royals would have been unheard of at that time.
The Archewell Audio series was launched in August 2022, sparking controversy with Meghan's claims, including one where she stated that baby Archie had to be rescued from a fire during a royal tour of Africa. She also disclosed quitting an 800 pounds-per-episode job as a briefcase model on the American game show "Deal or No Deal" due to feelings of objectification.
Although the Spotify podcast contract was not renewed, it was reported in June that Harry expressed interest in interviewing figures such as Vladimir Putin, Donald Trump, Pope Francis, and Mark Zuckerberg about their childhood traumas on a Spotify podcast.
Interestingly, even after the Spotify deal was terminated, Archewell renewed its trademark application for the "Archetypes" podcast title with the US Patent and Trademark Office (USPTO). However, it was later confirmed that Meghan withdrew her trademark application for the podcast title after a 17-month-long battle to protect it was unsuccessful.
