People want to speculate that Meghan Markle and Prince Harry caused their partnership with Spotify to end. However, finances are what were to blame.
HIGHLIGHTS
Spotify canceled Prince Harry and Meghan Markle’s podcast due to a cost-cutting measure.
Despite losing the Spotify deal, the couple has lucrative deals with Netflix and other projects in the pipeline, meaning they will not be destitute anytime soon.
While the exact payout for the Spotify deal is unknown, the couple received a reported $20 million advance for Prince Harry’s book, and they have other income sources, including Meghan’s Suits royalties and Prince Harry’s role as Chief Impact Officer of BetterUp.
When it was announced that Spotify canceled Prince Harry and Meghan Markle’s podcast, Archetypes, many were surprised. After all, aside from the multimillion-dollar deal the couple signed with the digital platform, the podcast itself was successful. It won the top podcast for the People’s Choice Awards, held in Los Angeles, and was top in its market in several countries worldwide, including the US and the UK. Hosting Archetypes on Spotify seemed like a mutually beneficial relationship for all involved, and potentially one of the reasons why Meghan put off her political aspirations.
While many want to speculate that Prince Harry and Meghan were canceled because of some wrongdoing, ill behavior, or being difficult to work with, rumors that Meghan’s former co-workers have dispelled about her, it turns out that their departure was a result of Spotify canceling several high-profile podcasts to save money.
As such, Archetypes was just the latest high-profile podcast to be cut from programming, following in the footsteps of Higher Ground, President and Michelle Obama’s podcast that was canceled in 2022. All of this is being done in response to cutting two percent of the company’s workforce cutting costs where necessary. And because of this, a joint statement was issued that stated, “Spotify and Archewell Audio have mutually agreed to part ways and are proud of the series we made together.”
Despite this amicable parting, it cannot be denied that dropping Meghan Markle and Prince Harry is saving Spotify millions of dollars.
Meghan Markle And Prince Harry Have Netted Many Deals
While the deal with Spotify may have come to an end, that does not mean that the Duke and Duchess of Sussex will be destitute any time soon. In fact, just the opposite given that the couple has netted many lucrative deals since stepping back as senior royals in January 2020.
The biggest deal that Meghan and Prince Harry have signed is with Netflix. This deal is worth a reported $100 million and allows for the royal couple to “produce documentaries, docuseries, feature films, scripted shows and children’s programming.”
In addition to the Netflix deal is the deal that Prince Harry signed to write his controversial book that potentially posed a security risk, Spare. A deal that he gave Queen Elizabeth a “head’s up” on, but did not ask for her approval for.
Believing that there would be a good deal of copies sold, Prince Harry received a “$20 million advance.” And based on the 1.4 million copies on the release day alone, potentially because of the memoir being “leaked” in the weeks leading up to the release, the prince’s publishing company is poised to make a great deal of money off of the tell-all being sold.
Since the split with Spotify, reportedly, Meghan is “currently developing additional content for the Archetypes audience on another platform.” Just what that platform will pay for the content, remains to be seen.
Meghan Markle And Prince Harry’s Spotify Deal Was Worth Up To $25 Million
The deal that Meghan and Harry signed with Spotify in December 2020, has been estimated to be worth $15 to $18 million. However, some estimates have the deal worth up to $25 million. But because the deal ended with just one podcast being launched that aired 12 episodes and one holiday special, the amount the couple will receive will be less.
While “they will not be paid anything close to the full amount they could have earned under the deal,” it is unclear just what that final figure will be.
What Were Meghan Markle And Prince Harry Doing For Spotify?
When the deal was signed just over two years ago, the content was supposed to include both Meghan and Prince Harry hosting a podcast together. It was to be an exclusive partnership between Spotify and Archewell Audio that would “produce programming that uplifts and entertains audiences around the world” and “spotlight diverse perspectives and voices.”
Just how many podcasts Meghan and Prince Harry were supposed to produce is unknown. However, just the one featuring Meghan, sans Prince Harry, ever saw the light of day. As such, Prince Harry only participated in one holiday special and was never heard from again on the platform.
Because Prince Harry and Meghan did not produce more content, and Prince Harry reportedly had a hard time coming up with ideas for a podcast of his own, it appears as though much less content was made than what was agreed to.
Given that they “failed to meet the productivity benchmarks” that Spotify set out for them, they will not be receiving the “full payout from the deal.”
How Are Meghan Markle And Prince Harry Making Money Now?
While the loss of the Spotify deal does put a bit of a dent in the Duke and Duchess of Sussex’s overall payday, they still have deals in the works that will continue to help them make the money they need to live the lifestyle they are accustomed to so that they do not have to curtail their extravagant spending.
Most importantly to insuring that substantial income comes into the household is keeping up with the partnership with Netflix to create original content. The first of which was Harry & Meghan, a series that was loved by many, but loathed by some celebrities.
A second docuseries, according to Marie Claire, is in negotiations between the streaming giant and Prince Harry and Meghan. If all goes according to plan, it will detail “humanitarian efforts” the Duke and Duchess are involved in, in South Africa.
There is also Prince Harry’s project, The Heart of Invictus that is due out in late 2023.
Meghan just recently signed to a new talent agency. According to Marie Clare, she is planning on relaunching her lifestyle brand website and blog, The Tig. If this proves to be true, the revenue from this could be quite large.
In addition, Meghan receives royalty checks from her time on Suits. During her time on the show, both she and co-star Patrick J. Adams made approximately $50,000 per episode. While it is not known what the size of the check is, they are likely smaller than this amount. However, those checks “helped pay” for the luxury estate she and Prince Harry live in today.
Prince Harry is helping to bring income into the household as well as the Chief Impact Officer of BetterUp. His job includes “helping create impact in people’s lives” by being an advocate for mental health.
Meghan and Prince Harry no doubt have projects they are working on that have yet to be released to the public. As such, while losing the Spotify deal may have been a short-term blow to their finances, it may wind up being nothing more than a bump in the road of life on their way to making a fortune for themselves.
