Spotify employees expressed their frustration and criticized Meghan Markle and Prince Harry as “lazy” and “f-king grifters” following the termination of their $20 million deal with the podcasting network.
Bill Simmons, President of Spotify’s worldwide sports content, referred to certain individuals in the industry as “the f-king grifters” on his own podcast, expressing regret for not collaborating with the couple on their podcast debut.
The termination of the agreement puts the Sussexes in a challenging financial position as they face the escalating costs of their extravagant lifestyle in Montecito, California. With a significant mortgage on their Tuscan-style mansion, which they bought for $14.7 million in June 2020, the couple has to handle substantial annual property taxes and ongoing maintenance expenses.
To sustain their Archewell venture without Spotify’s financial support, Meghan and Harry must cover the expenses of their private security detail, estimated at around $2 million per year, as well as legal fees arising from Harry’s ongoing battles with the British press.
While the couple is not financially destitute, sources suggest that they need to manage their spending rather than saving. Despite signing a three-year deal with Spotify in 2020, only 13 hours of content have been released so far, consisting of 12 episodes of Markle’s podcast “Archetypes” and a holiday special. Their earnings from the agreement will be significantly less than expected.
Comparisons have been drawn to the Obamas, who also had a Spotify deal but produced several new programs through their company, Higher Ground. The Sussexes’ limited output in the same period has raised concerns.
Simmons shared an anecdote about his attempt to help Harry with a podcast idea, expressing his regret for not being involved in the “Meghan and Harry quit Spotify” deal, which he believed would have made a great podcast debut.
According to insiders, Spotify aims to focus on creators who attract strong audiences, such as Alex Cooper, Dax Shepard, and Emma Chamberlain, suggesting that Meghan and Harry are viewed as exceptions due to their perceived laziness and difficulties.
Both Spotify and Archewell issued a joint statement confirming their mutual decision to part ways and expressing pride in the series they created together.
Since stepping back as full-time royals and publicly criticizing Harry’s family in a 2021 Oprah Winfrey interview, the couple’s fortunes have taken a downward turn. The loss of the Spotify deal is another setback, coupled with a decline in popularity and challenges in retaining employees.
The Sussexes have claimed to be chased by aggressive paparazzi in New York, but their account was contradicted by their cab driver, leading to further ridicule.
As non-working royals, they are not welcome to attend the Trooping the Colour ceremony under King Charles’ reign.
Despite their Netflix deal worth $100 million over five years and the success of their docuseries “Harry and Meghan,” the couple has faced criticism for having only one other show in the works, “Heart of Invictus,” which will premiere before this year’s Invictus Games.
It remains uncertain whether documentary crews will accompany them to Germany for the event.
While a Netflix insider reassured that the couple remains valued partners, the comparison was made to the successful output of the Obamas’ Netflix agreement, including an Oscar-winning documentary.
Meghan aspires to be an entrepreneur and is planning to create a business similar to Gwyneth Paltrow’s Goop, with a secret desire to model for a high-end company like Cartier.
Observers note that Meghan’s recent reticence often precedes a significant announcement or revelation.
The Sussexes continue to work with Meghan’s long-time business manager, Andrew Meyer, and Hollywood financier Adam Lilling, with ties established during her time on “Suits.”
Harry’s involvement as Chief Impact Officer at the online therapy startup Better Up provides additional income, although it is described as part of a broader transaction rather than traditional payment.
The couple has rejected some business opportunities, including speaking at a private CEO summit in California.
To revive their Hollywood careers, Meghan has recently hired Ari Emanuel, CEO of William Morris Endeavor, as her new super-agent.
Royal historian Hugo Vickers criticizes the couple for their missteps, citing the discrepancy between Harry’s involvement with the Invictus Games, which promotes resilience and overcoming victimhood, and his own portrayal as a victim.