June 19, 2023
Losing the 29-million-dollar deal with Spotify turned out to be a bigger blow than expected for Prince Harry and Meghan Markle.
Royal expert, Bronte Coy dubbed it as “the most lucrative jewels” in the couple’s “post-royal crown” in her piece for news.com.au.
Coy deciphered the ‘huge clue’ that alluded to the collapse of their Spotify deal.
“A huge clue at what was to come was actually delivered all the way back in April with some very telling remarks by the streaming giant’s CEO, Daniel Ek, who admitted the company had been ‘overpaying’ and ‘overinvesting,’” she noted.
“‘We’re going to be very diligent in how we invest in future content deals,’ Ek said on a conference call with financial analysts earlier this year, according to the BBC.
“‘And the ones that aren’t performing, obviously, we won’t renew. And the ones that are performing, we will obviously look at those on a case-by-case basis on the relative value.’”
While the Archetypes became the top podcast on Spotify and won a People’s Choice Award in December, sources told Variety that the Spotify executives had “expected more content from their eye-watering deal with the Sussexes.”
A source close to the situation told The Post on Thursday that the Archewell media company launched by Prince Harry, 38, and Markle, 41, didn’t produce enough content to receive the full payout of the roughly $20 million deal the couple signed in 2020.
A day after it was announced that the partnership was terminated, Spotify’s head of global sports strategy, Bill Simmons, slammed Harry and Markle as “lazy” and “f–king grifters.”