Dissecting the Failed £18m Podcast Deal
Spotify's chief executive, Daniel Ek, has finally shed light on the real reason why Prince Harry and Meghan Markle's highly anticipated podcast deal was scrapped. The high-profile couple secured an estimated £18million for their podcast venture, which unfortunately ended prematurely. Ek admitted in an interview that the podcast simply "didn't work".
A Lesson in Innovation
Ek explained that Spotify believed they could bring new innovation to the podcasting world with the Sussexes' show. Their goal was to create a great experience for consumers while offering new creators unprecedented opportunities. However, the reality did not match their vision. Ek acknowledged that while some aspects of the podcast were successful, others fell short. This setback has motivated Spotify to learn from their mistakes and move forward.
Was It Worth the Price Tag?
Zoe Kleinman of the BBC interviewed Ek, questioning whether 12 episodes over two-and-a-half years warranted an £18million deal. Ek responded diplomatically, leaving room for interpretation. It is apparent that Spotify had higher expectations for the podcast's performance.
Meghan's Controversial Claims
The Archetypes podcast series, presented by Meghan, generated controversy with some of its claims. One such claim was that baby Archie had to be saved from a fire during the Sussexes' royal tour of Africa. Additionally, Meghan disclosed that she quit a lucrative job as a briefcase model on the American game show Deal or No Deal because she felt "objectified". These revelations may have contributed to the ultimate downfall of the podcast.
A String of Losses
Being dropped by Spotify was not the first professional disappointment for Harry and Meghan. Last year, their animated series Pearl was canceled by Netflix amid cutbacks and a decline in subscriber numbers. The show, in collaboration with Sir Elton John's producer husband David Furnish, was part of the couple's larger content creation deal with the streaming giant.
Spotify's failed partnership with the Sussexes serves as a reminder of the challenges faced by streaming services seeking to compete in the ever-expanding podcast industry.
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