Meghan Markle and Prince Harry sign exclusive podcast deal with Spotify
Harry and Meghan expand their empire: Couple sign lucrative ‘£30 million’ podcast deal with Spotify – starting with a ‘holiday special’ that ‘uplifts audiences around the world’ – as they build their brand just months after £100m Netflix contract
- Couple will produce and host their own shows, starting with a holiday special that will be released this month
- Announcement said the royals will create content that ‘uplifts and entertains audiences around the world’
- It’s the step in couple’s bid to create a ‘billion-dollar brand’ after Netflix deal and new range of vegan coffee
- Royal author Penny Junor today said they faced ‘bear traps’ trying to square being royals with making money
Meghan Markle and Prince Harry today signed a lucrative podcast deal with Spotify worth up to £30million as they took another big step towards building a $1billion business empire in the US.
The couple will produce and host their own shows as part of the newly formed Archewell Audio – starting with a ‘holiday special’ that the couple hopes will ‘uplift audiences around the world’.
Spotify has not revealed what the contract is worth, but the streaming service agreed a £75m ($100m) deal with US comedian Joe Rogan in May. The Mirror reported the Sussexes would be paid £30million – other sources put it closer to £20million.
Earlier this year, Michelle Obama launched The Michelle Obama Podcast for an undisclosed fee and had her husband on as one of her first guests.
The Sussexes’ agreement comes just months after the royals agreed a £100million partnership with Netflix and days after Meghan invested in a $28-per-pack oat-milk ‘superlatte’ business later promoted for free by her LA neighbour Oprah Winfrey.
A trailer clip of Archewell Audio was released today, accompanied by a short description which reads: ‘Prince Harry, the Duke of Sussex and Meghan, the Duchess of Sussex, present Archewell Audio. Coming soon to Spotify.’
The slickly-produced and heavily-scripted Spotify trailer featuring the Sussexes opens with Harry saying to his wife: ‘Ladies first’ before his Meghan says: ‘No you say it first because I think it sounds really nice with your accent’.
The Duke of Sussex then says: ‘Archewell Audio’ and they say together: ‘Let’s do it’.
The couple’s newly formed Archewell Audio will produce programming that ‘uplifts and entertains audiences around the world’ and features ‘diverse perspectives and voices’
The announcement today means the couple are following in the footsteps of the Obamas (pictured on December 1), with Michelle hosting her own Spotify podcast series
Prince Harry then says: ‘Hi guys, I’m Harry’ before Meghan says: ‘And I’m Meghan’, with both choosing not to use their titles.
Meghan then says: ‘One of the things my husband and I have always talked about is our passion for meeting people and hearing their stories. And no matter what the story they usually offer an understanding of where someone else is coming from. And in some way, remind you of a story about yourself’.
Harry continues: ‘And that is what this story is all about. To bring forward different perspectives and voices that perhaps you haven’t heard before. And find our common ground. Because when that happens change really is possible’.
The Duchess of Sussex says that the podcasts will be about ‘finding kindness and compassion, something we saw in some many places this year’.
She adds: ‘It will underlie everything you here on Archewell Audio – so that’s what we’re up to’.
Their first show will be a ‘holiday special’ this month will ‘feature stories of hope and compassion from inspirational guests in celebration of the new year.’
Harry and Meghan both mimic church bells before saying: ‘We can’t wait to share it with you and will be out later this month’.
Meghan says: ‘We’re talking to some amazing people who will share their memories that have helped shaped this year. As we know this has been a difficult one for everyone’.
Touching on the pandemic Harry says: ‘So many people have suffered so much pain this year, experiencing loss and a huge amount of uncertainty but it feels worth mentioning that 2020 has connected us in ways we could never have imagined. Through endless acts of compassion and kindness’.
Plugging the podcast Harry says: ‘So here’s what you need to do, tap follow right now. Go ahead, go on. Tap, follow and that way you won’t miss out and you’ll be able to hear new shows on Archewell Audio as soon as they drop’.
Finishing the trailer Meghan says: ‘We’re so excited. So follow and listen for free only on Spotify. We’ll meet you back here soon’.
Harry signs off with an American-sounding ‘happy holidays’ while Meghan ends with a British ‘cheers’.
The couple said in a statement today: ‘What we love about podcasting is that it reminds all of us to take a moment and to really listen, to connect to one another without distraction.
‘With the challenges of 2020, there has never been a more important time to do so, because when we hear each other, and hear each other’s stories, we are reminded of how interconnected we all are.’
The Sussexes stopped royal duties in January this year, and have been criticised for using their newly independent status to sign multi-million pound deals while retaining their official titles.
The Sussexes’ agreed a £100million partnership with Netflix.
This was followed by the revelation earlier this week that Meghan had invested in a new range of oat milk vegan ‘superlattes’, which sell for £21 ($28) per pack.
Harry, 36, and former Suits actress Meghan, 39, are also set to earn as much as £770,000 ($1m) for delivering online talks – on condition of an upfront fee and the ability to pick any moderators.
The Duke spoke at a J P Morgan event in Miami earlier this year where he received a reported six-figure sum.
Royal biography Angela Levin has branded Harry ‘disloyal’ for taking money from Netflix when it was ‘ridiculing’ his family in popular series The Crown.
Today, the author Penny Junor warned that the couple would find it ‘very difficult’ to combine being a member of the royal family with pursuing commercial activity, because ‘there are bear traps everywhere’.
‘Inevitably, because of who they are, there will always be a market for them,’ she said. ‘It’s not even because they’re Harry and Megan, it’s because they are HRHs.
‘That adds a huge number of noughts to the end of any deal that they do. That’s not their fault. It just highlights how difficult it is to square up being a member of the royal family but earning a living outside it.’
Harry and Meghan no longer use their HRH styles, but they are still members of the royal family despite stepping back from official duties and retain the titles.
Dawn Ostroff, Spotify’s chief content and advertising business officer, said: ‘The Duke and Duchess of Sussex may live in California but the power of their voices rests in their status as citizens of the world.
‘That they are embracing the extraordinary capacity of podcasts on Spotify while also seeking to elevate underrepresented voices is a testament to their appreciation for the potential of audio storytelling.’
The couple (seen in a talk from October) will produce and host their own shows, starting with a holiday special that will be released this month
Meghan (pictured left) appearing on CNN on Monday to thank the ‘quiet heroes’ of the pandemic as it emerged that she had invested in an oat ‘superlatte’ company. Meghan’s ‘neighbour’ Oprah (pictured right) promoted the brand on her Instagram page – a favour that experts believe is worth millions of dollars in free publicity
The Duke and Duchess of Sussex have been embraced by the celebrity circuit after ditching royal duties in March and signed a multi-million-pound deal with Netflix to produce content that provides ‘hope and inspiration’.
One of their latest ventures was a new brand of vegan coffees, which Oprah Winfrey today promoted on her 19.2million Instagram followers in a huge favour to her friend.
Ms Markle’s coffee investment is the first since she and Harry emigrated to pursue a private life and seek ‘financial independence’ from the royal family in California – but is still likely to ‘raise eyebrows’ at the palace, experts claim.
The big name celebrities who already have high-profile podcasts on Spotify
Harry and Meghan are the latest high profile name to take up podcasting on streaming service Spotify.
The Swedish media service is already home to the podcasts of big names, including Michelle Obama.
The Swedish media service is already home to the podcasts of big names, including Michelle Obama
The former First Lady of America hosts The Michelle Obama Podcast on the platform after her production studio Higher Ground signed a major deal with Spotify last year.
It features Mrs Obama diving deep into conversations with loved ones — family, friends, and colleagues.
Grounded with Louis Theroux is also extremely popular on the streaming service.
The BBC podcast on Spotify involves the documentary maker sitting down for a talk with big names, such as actress Helena Bonham Carter.
Grounded with Louis Theroux is also extremely popular on Spotify
US talk show host Oprah Winfrey, who lives near the Sussexes, has also launched the popular Oprah’s Supersoul Conversations, while Stricly Come Dancing host Claudia Winkleman also has a podcast on Spotify, in which she discusses topics around family issues with clinical psychologist Professor Tanya Byron.
Other celebrity podcasts on the streaming service include Happy Place by Fearne Cotton and Castaway by Love Island host Laura Whitmore.
The record for an advertising Instagram post was $500,000, paid to Kim Kardashian in 2015, but Mr Borkowski said Oprah’s social media video was ‘a million buck post in free publicity’ at least.
Oprah, America’s biggest TV star worth $2.6bn, described the beverage on Instagram as her ‘new drink of choice’. While its maker, Californian start-up Clevr Blends, claims it brings all kinds of health benefits, is ethical, environmentally friendly and a brand that is ‘dedicated to giving a s**t’.
Its packaging claims it boosts immunity, brain health and digestion while reducing stress and improving focus.
Meghan today made her first public appearance since revealing three weeks ago that she suffered a miscarriage in July.
In a video message for US news channel CNN from the gardens of her mansion, she saluted the ‘quiet heroes’ of the coronavirus pandemic, praising key workers and those who volunteer at food banks. Meghan, 39, and Harry, 36, have helped several charities to distribute food in Los Angeles.
Forbes said the duchess intends to invest in more women-led firms as she ‘has made gender equality one of her core causes’.
Clevr Blends has a British CEO, Hannah Mendoza, who co-founded the firm with Roger Coppola, the only man on the team.
In a statement, Meghan, who did not reveal the size of her stake, said it was to support ‘a passionate female entrepreneur who prioritises building community alongside her business’.
She added: ‘I’m proud to invest in Hannah’s commitment to sourcing ethical ingredients and creating a product that I personally love and has a holistic approach to wellness.’
The recent deals will help the Sussexes in their pledge to become ‘financially independent’ from the royal family – following their decision to step back from frontline royal duties in January this year.
The couple have since bought a sprawling nine-bedroom and 16-bathroom mansion in upscale Santa Barbara, known as ‘The Chateau’ for $14.65million, making them neighbours with celebrities including Oprah Winfrey.
The pair are thought to have purchased the sprawling property, which sits on 5.4 acres of land, from a Russian businessman with a $9.5million mortgage after the price was knocked down by more than $10million.
At typical interest rates provided by Bank of America, the couple would have to pay $40,000 a month or $480,000 a year in order to repay the mortgage over 30 years.
Annual property tax is estimated at $68,000 and the costs of security and utilities for the huge mansion will also come with hefty bills.
According to cost-of-living database Numbeo, utility bills for a 900 sq ft home in Santa Barbara County are typically around $200 per month.
Harry and Meghan’s mansion is more than 10 times larger, suggesting a possible bill of at least $2,000 per month or $24,000 per year.
Alongside agreeing to pay back £2.4million for tax-payer funded renovations to Frogmore Cottage, where the pair lived before moving to America, the couple earlier this year agreed to pay for the cost of their security personally.
The security bill could cost them £4million a year. They also face staff costs. Christopher Baker, who runs a firm that supplies domestic staff in California, told the Hollywood Reporter in 2015 that a staff for A-list celebrities can cost $200,000 to $300,000 per year, or even more.
Spotify: The Swedish streaming service that took the music world by storm in just 14 years
Founded as a small start-up firm just 14 years ago, Spotify has quickly risen to take the music world by storm. From its humble beginnings, the music streaming service, which boasts a library of 60million songs, now has a staggering 320million monthly active users and is worth an estimated $23billion.
The meteoric rise began in Stockholm, Sweden, in 2006. The company was co-founded by Daniel Ek, the former boss of popular fashion-based browser game Stardoll, and Martin Lorentzon, co-founder of digital marketing firm Tradedoubler.
The small start-up was set up as a response to the growing piracy problem the music industry was facing. It launched two years later with a free registration service for users to stream music via the internet.
This model allowed users a freemium service – allowing users to listen for free with adverts – or a paid subscription service.
It set Spotify aside from the rival Apple’s iTunes store, from which users bought digital copies of songs or albums to build their own library which they could listen to whenever they liked.
By 2009, the company had reached the UK. Its popularity surged after the release of its mobile service.
The meteoric rise began in Stockholm, Sweden in 2006, when the company was co-founded by Daniel Ek, the former boss of popular fashion-based browser game Stardoll, and Martin Lorentzon, co-founder of digital marketing firm Tradedoubler
By March 2011, five years after it was founded and three years after its launch, Spotify had one million paying subscribers across Europe. Within six months, that number had doubled.
In the same year, Spotify launched in the US, again to great success. By 2012, the streaming service had 15million active users, four million being paying Spotify subscribers.
And subscription figures continued to grow and grow and grow, more than doubling by 2014. By 2016 it had 40million paying subscribers and 100million total users and as of October 2020, the platform has 320million monthly users, including 144 million paying subscribers.
But despite its meteoric growth, the company, which has an annual revenue of £6billion, has historically struggled to produce profits.
It has also faced criticism from those in the music industry, including Taylor Swift, who have argued that the service does not compensate musicians fairly. The company distributes approximately 70 per cent of its total revenue to rights holders, mostly record labels, who then pay artists based on individual agreements.
In a bid to drive its profits into the green, the owners of Spotify, Spotify AB, was floated on the New York Stock Exchange as a publicly traded company in 2018.
The move came after the company made losses of nearly £870m over the previous three years.
Despite being floated publicly, Spotify did not issue new stock when being floated in 2018, instead selling shares that were held by its private investors. The aim of the scheme was to raise investment for its expansion plans.
Last year the $23billion company posted an operating profit of $60million – only the third time in its history it had posted a profit.
Despite past losses, the company has continued to make big money deals, and has lately pushed into increasingly in the area of podcasts.
It is not known how much the Spotify contract is worth, but the streaming service agreed a £75m ($100m) deal with US comedian Joe Rogan in May.
Earlier this year, Michelle Obama launched The Michelle Obama Podcast for an undisclosed fee and had her husband on as one of her first guests.
How Harry and Meghan have emulated Barack and Michelle Obama’s post-White House money-making deals
SPOTIFY
Harry and Meghan’s deal with Spotify is the latest they’ve undertaken that’s similar to Barack and Michelle Obama.
Earlier this year, Michelle launched The Michelle Obama Podcast and had her husband on as one of her first guests.
Neither Michelle nor Spotify released details of the deal but it’s likely to rival that of Joe Rogan, Spotify’s most lucrative podcaster, who makes £74million ($100m) out of his multi-year deal.
In announcing her podcast deal in July, Michelle said: ‘My hope is that this series can be a place to explore meaningful topics together and sort through so many of the questions we’re all trying to answer in our own lives.
‘Perhaps most of all, I hope this podcast will help listeners open up new conversations—and hard conversations—with the people who matter most to them. That’s how we can build more understanding and empathy for one another.’
In announcing their podcast deal on Tuesday, Meghan and Harry said: ‘What we love about podcasting is that it reminds all of us to take a moment and to really listen, to connect to one another without distraction.
‘With the challenges of 2020, there has never been a more important time to do so, because when we hear each other, and hear each other’s stories, we are reminded of how interconnected we all are.’
Earlier this year, Michelle Obama launched The Michelle Obama Podcast and had her husband on as one of her first guests
NETFLIX
Harry and Meghan, much to the criticism of many, signed a deal to serve as producers. They’ll make documentaries and children’s series in their roles and may even appear on camera themselves. Again, no details of how much they are set to make from it have been made public.
They were widely criticized for the Netflix deal in particular, given Netflix’s portrayal of the royal family in The Crown. Among the reasons the pair claimed they quit royal life was to live more privately and without what they perceived to be press intrusion. Critics blasted them for taking money from Netflix for their producer deal when The Crown takes such a deep dive into Harry’s family’s life.
It’s similar to the Obamas’ Netflix deal that was announced in 2018.
At the time, Michelle said in a statement: ‘Barack and I have always believed in the power of storytelling to inspire us, to make us think differently about the world around us, and to help us open our minds and hearts to others.
‘Netflix’s unparalleled service is a natural fit for the kinds of stories we want to share, and we look forward to starting this exciting new partnership.’
Harry and Meghan, much to the criticism of many, signed a deal to serve as Netflix producers
In announcing their Netflix deal, Harry and Meghan said: ‘Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit, of courage, resilience and the need for connection.
‘Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope. As new parents, making inspirational family programming is also important to us, as is powerful storytelling through a truthful and relatable lens.’
One of Barack and Michelle’s documentaries – Factory – won an Oscar.
PRIVATE SPEAKING ENGAGEMENTS
After Barack Obama left office, one of the ways he made money immediately was through private speaking engagements.
In 2017, one speech to a private equity group paid him £300,000 ($400,000).
Harry and Meghan have also made money through speeches. Among their first was one at a JP Morgan conference in Miami in February.
Again, no details of the deal have been made public.
That is one revenue stream they don’t talk about.
At the Miami event, Harry and Meghan were introduced by Meghan’s friend Gayle King, who is also friends with Oprah (who plugged Meghan’s new oat-milk latte brand).
Page Six quoted an anonymous source at the time who said: ‘Harry spoke about mental health and how he has been in therapy for the past few years to try to overcome the trauma of losing his mother because he wants to protect his family.
‘He does not want Meghan and their son Archie to go through what he did as a child.’
In February, Harry and Meghan were the keynote speakers at a JP Morgan summit at the 1 Hotel South Beach in Miami
AND WHAT THEY’VE NOT DONE…
BIOGRAPHIES
Michelle has made millions from her autobiography, Becoming, where she talks at length about her life before Barack became president and what happened afterwards.
Neither Harry nor Meghan has written a book about their public life.
One has been written about them – Finding Freedom – but the pair have insisted that they did not contribute to it.
Michelle has made millions from her autobiography, Becoming, where she talks at length about her life before Barack became president and what happened afterwards. Neither Harry nor Meghan has written a book about their public life. One has been written about them – Finding Freedom – but the pair have said on record that they did not contribute to it.
ON-CAMERA DOCUMENTARIES
Michelle was interviewed for Becoming, a documentary to accompany her book and her speaking tour, that became a Netflix documentary.
Harry and Meghan have not appeared in any on-camera work. They were interviewed by ITV before they left royal life but that was in 2019.
