In 2020, just months after stepping down from their royal duties, Prince Harry and Meghan Markle seemed to have a ton of opportunities at their fingertips after signing multi-million deals with both Spotify, and Netflix.
But now, one of those collaborations has come to an abrupt end, which is reportedly causing the couple to worry about money.
Earlier this week, it was announced Spotify had cancelled Meghan’s podcast archetypes after only one season. It originally launched in August 2022, and was the number one podcast in a variety of countries within days, including the U.S.
Meghan brought on a variety of high-profile guests, including Paris Hilton, Mindy Kaling, and Serena Williams. The show even won the People’s Choice Award as the top podcast earlier this year.
However, despite the podcast’s success, Spotify chose not to renew it for a second season.
Meghan and Harry’s production company Archewell Audio released a statement saying the decision was amicable. “Spotify and Archewell Audio have mutually agreed to part ways and are proud of the series we made together,” it read.
The couple’s original deal with Spotify was supposed to extend over multiple years, so it appears the plug was pulled on the collaboration earlier than expected. The deal was valued at $20 million. It’s unknown if Meghan and Harry work with Spotify again in the future.
It's possible the decision is connected to Spotify’s recent lay-offs – the streaming giant recently let go of 6% of its employees (roughly 600 jobs) and has said more staff will be getting the axe.
But it could also do with Harry and Meghan’s controversial reputation, which has only become more divisive since leaving the UK.
The decision to cancel Archetypes will reportedly have a significant impact on the couple’s net worth. One report says the pair are beginning to worry about money as their bills pile up.
“They’re not broke. But they’re going to have to keep spending their money, instead of banking it,” a source told Page Six.
The couple currently live in a Montecito estate that they bought in June 2020 for $14.7 million, though it was reported they were house hunting for something bigger (and more expensive) last year.
The bill for their private security alone is reportedly $2 million annually, and they also have ongoing legal fees connected to several lawsuits they’ve launched against UK press.
Though Harry and Meghan reportedly have his trust funds, they’ve be growing Archewell to make a name for themselves, but it could tank them financially if their company’s collaborations continue to flounder.
Sources: Global News, National Post,