The decision to sever ties between Spotify and Prince Harry and Meghan Markle, despite a three-year, $20 million deal, and only 13 episodes of content, raises questions about what went wrong beyond the obvious.
According to reports, Spotify is reassessing its content strategy and looking to drop shows that fail to meet audience demands. The company’s CEO, Daniel Ek, acknowledged that they had been overpaying and overinvesting in certain content. This seems to have resulted in the departure of not only Harry and Meghan but also Michelle Obama, whose podcast was discontinued due to low listenership.
Ek stated that Spotify would be more cautious in future content deals, evaluating each on its performance and relative value. This indicates that the decision to end the partnership with Harry and Meghan was likely driven by their show’s inability to meet the expected audience reach and engagement levels.
Additionally, rumors have surfaced that Harry and Meghan’s multimillion-dollar deal with Netflix may also be in jeopardy. Despite their initial docuseries’ success, there are allegedly no plans for a follow-up series, and Netflix is unlikely to renew their contract. The evolving sentiment within the streaming giant could be attributed to a perceived lack of return on investment. The landscape has changed, and the financial rewards once available for such high-profile partnerships may no longer be as lucrative.
It appears that Spotify and potentially Netflix are taking a more discerning approach to content deals, focusing on measurable impact and value for their platforms. The shifting dynamics of the streaming industry and evolving audience preferences may have contributed to the decision to part ways with Harry and Meghan.