End of Harry and Meghan’s £18million Spotify deal after just one podcast series

The fact that Harry and Meghan are losing their lucrative Spotify deal is a sign that the couple’s “post-Megxit wave” is crashing, an expert claims.

Variety, the bible of the US entertainment industry, reported yesterday that the music streaming giant had pulled the plug because they “expected more content” from the Duke and Duchess of Sussex and their Archewell Audio team.

The Wall Street Journal, the first publication to report the split between the Sussexes and Spotify, also suggested they had not produced enough content to receive the full payout from the deal.

Brand and culture expert Nick Ede told the Mail that the closing of the Spotify deal was a sign that the “post-Megxit wave” the couple was riding is crashing.

“It seems that Meghan’s brand is not much of a box office winner and I can see many other companies following suit,” he said.

Mr Ede also said the pair will have lost ‘many millions’ from the Spotify deal. He hinted that Meghan’s highly publicized relaunch of her blog and lifestyle brand, The Tig, which she closed when she became engaged to Harry, is “almost certain” as her options become more limited.

PR expert Mark Borkowski said the Spotify contract termination was “bad news” for the Harry and Meghan brand and a sign “their star is really falling.” He estimated it could cost them up to $10 million or £8 million.

Archewell only delivered one series — 12 episodes of Meghan’s Archetypes show last year about the social stereotypes surrounding women — and a 30-minute celebratory special in 2020 featuring a handful of celebrity friends and their son Archie speaking his first words in public.

Archetypes was an initial ratings success when it was released last summer and talks for a second series are reportedly underway before they reportedly stalled. Spotify reportedly paid a whopping £18 million to sign the Sussexes to a ‘multi-year partnership’ after they quit as working royals. The Sussexes highlighted a joint statement from themselves and Spotify saying they had ‘mutually agreed to part ways’.

“We are proud of the series we created together,” they added.

Meghan’s talent agency in the US added, “Meghan will continue to develop more content for the Archetypes audience on another platform.”

Sources “familiar with the situation” also said Harry and Meghan wanted to “leave the exclusive Spotify distribution to find a new home for their audio projects.”

But the news is an undeniable dent in the couple’s plans to conquer the US and make themselves a billion-dollar brand, if only from a credibility perspective.

They also bought a £10 million mansion in California based on their first commercial conquests, including their stint at Spotify, and an equally lucrative production deal with Netflix.

Archetypes was an initial ratings success when it was released last summer and talks for a second series are said to be underway before reportedly stalling

Their six-part tell-all series that toasted the royal family and British media last year was undoubtedly a commercial success for Netflix, topping the most-watched charts for weeks.

But the pair have apparently vowed to move away from “flashback” projects and focus on producing new and original content.

The only known show, after Meghan’s plan for a children’s cartoon series about inspirational female figures was recently rejected, is Harry’s Heart Of Invictus series, after his Paralympics-style event for wounded servicemen.

Netflix has pushed for the series to air this summer, despite rumors that it has also been cancelled. Harry would play roles both in front of and behind the camera.

But the couple will no doubt take comfort in the fact that Harry’s memoir, Spare, which exposed the bitterness of his divorce from the royal family alongside attacks on individual members, was a huge commercial success and is known as part of a multi-book deal.

The news is an undeniable dent in the couple’s plans to conquer the US and transform themselves into a multi-billion dollar brand, if only from a credibility perspective

The pair will no doubt take comfort in the fact that Harry’s memoir, Spare, which exposed the bitterness of his separation from the royal family alongside attacks on individual members, was a huge commercial success and is known as part of a multi-book deal

Spotify recently announced it will lay off about 200 employees — nearly 2 percent of its workforce — from its podcast teams. It cited difficulties in making podcasts profitable despite their popularity. Speaking to Variety, industry sources stressed that the “imminent end of Archewell Audio’s pact with Spotify has nothing to do with the restructuring of the podcast group.”

Announcing the deal in late 2020, Harry and Meghan said they wanted to create programs that “uplift and entertain audiences around the world” and “build community through shared experience, stories and values.” But Hollywood is notoriously tough and what matters is money, according to industry sources who say the Spotify podcast was a “little but expensive return on their investment.”

They also pointed out that Meghan had lost several key members of her podcast team, including her head of audio, before a second Archetypes series could be agreed upon. But Meghan, 41, recently signed with leading talent agency WME, with plans to focus on building her “global business.”

What 38-year-old Harry is doing is less clear.

He is currently fighting several major legal battles in the UK against various media organizations and the Home Office, and also works as chief impact officer for US-based online coaching service, BetterUp.