MONTECITO, CALIFORNIA: Meghan Markle's 'Archetypes' podcast, which premiered on Spotify on August 23, 2022, delves into the history of stereotypes against women through engaging conversations with celebrities, historians, and experts. With notable guests like Serena Williams, Mariah Carey, and Paris Hilton, the Duchess of Sussex shares insights about her life in California alongside Prince Harry and their children. The podcast garnered acclaim, winning the People's Choice Award in 2022.
Although, in the recent headlines the speculations arising are suggesting otherwise from the success of the podcast. With the Duchess of Sussex receiving a hefty $18 million payment, the declining popularity of Prince Harry and Meghan seems to have hindered their ability to generate enough profit. Speculations arise as Spotify trims 2 percent of its workforce, fueling the notion that the podcast's failure and the high-priced host could be key factors behind the company's decision.
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Megan Markle's flop $18 million podcast 'Archetypes'
Spotify's recent job cuts, following a previous round of layoffs and the departure of podcast executive Dawn Ostroff, are rumored to be connected to the underperformance of Meghan Markle's podcast. While Spotify has not officially confirmed the cancellation of Markle's podcast, reports indicate that she was paid over $18 million for the show. Despite initial success, the podcast struggled to maintain its position, dropping to number 22 in the charts within a few months. Markle received recognition at the Gracie Awards, although she and Prince Harry did not attend the ceremony for undisclosed reasons, leaving the fate of the podcast uncertain.
Although the podcast was at the top position in almost seven countries for a long time the decline in the popularity of the show might be the reason for the lesser amount garnered than expected. The mother of two gained popularity after Oprah Winfrey's show, as they made some groundbreaking revelations about the royal family, the streaming giant decided to give the Duchess a spot on the podcast community, only to suffer great losses.
Music giant Spotify's 200 employees' layoff
In a blog post made on the streaming platform, they said, "We are expanding our partnership efforts with leading podcasters from across the globe with a tailored approach optimized for each show and creator. " Spotify’s head of podcast business Sahar Elhabashi added, "However, doing so requires adapting; over the past few months, our senior leadership team has worked closely with HR to determine the optimal organization for this next chapter. As a result, we have made the difficult but necessary decision to make a strategic realignment of our group and reduce our global podcast vertical and other functions by approximately 200 people, or 2 percent of Spotify’s workforce. " This statement made by Spotify highlights its intention to optimize partnerships with podcasters worldwide, tailoring support for individual shows and creators. To achieve this, they have decided to realign their organization, resulting in a reduction of approximately 200 employees (2 percent of their workforce).
While the statement does not explicitly mention the reason for the layoff, speculation suggests that it may be influenced by the perceived failure of the Megan Markle 'Archetypes' podcast. This strategic shift enables Spotify to better support the creator community while making tough choices to streamline their operations and adapt to evolving market dynamics, including the possibility of discontinuing underperforming ventures like the aforementioned podcast. The 'Joe Rogan Experience' by Joe Rogan is currently ruling the charts and also made a deal of $200 million yet managed to make profits as he has already garnered a huge amount of fan following. Although, the Duchess's podcast could not be accepted by people after a while and they chose to wave off the show resulting in declined listeners and causing the company to suffer a great loss.
