Archewell Audio — the podcast company featuring Prince Harry and Meghan Markle, which was part of their reported $20 million deal with Spotify in 2020 — will not be returning for a second season, despite discussions.
The show, hosted by Meghan Markle, focused on exploring labels that hindered women and featured notable guests such as Trevor Noah, Mariah Carey, Mindy Kaling, and Serena Williams.
In a joint statement released on Thursday, Spotify and Archewell Audio stated, “Spotify and Archewell Audio have mutually agreed to part ways and are proud of the series we made together.”
The Duke and Duchess of Sussex are said to be reconsidering their partnerships and seeking new opportunities for their content. It is possible that Archetypes may find a new home elsewhere.
In late April, Meghan Markle signed with talent agency WME, which also represents Archewell, the couple’s content creation label. WME’s focus is on developing the duo’s film and TV productions, brand partnerships, and overall business ventures.
Archetypes made a strong debut on Spotify’s podcast charts in August, reaching the top position. It also received a People’s Choice Award and achieved international success upon its release.
The news of Spotify’s separation from the Sussexes comes in the wake of the company’s decision to lay off 200 employees, primarily audio engineers. This follows a previous round of staff reductions earlier in the year when 6% of Spotify’s workforce was let go.
One significant departure was Dawn Ostroff, a TV veteran and former head of Condé Nast Entertainment, who played a key role in securing high-profile talent deals for Spotify. During Ostroff’s tenure, Spotify invested over $1 billion in acquiring podcast assets and securing exclusive deals with talents like Joe Rogan and Dax Shepard.
Spotify’s CEO, Daniel Ek, stated in late April that the company would be cautious in evaluating future podcasting investments as several talent deals approached renewal. Currently, talent-driven shows such as The Joe Rogan Experience, Call Her Daddy with Alex Cooper, Anything Goes with Emma Chamberlain, Distractible with Markiplier, and Armchair Expert are among Spotify’s top 25 chart-topping shows.
Although Spotify experienced significant user growth, adding an estimated 83 million monthly users worldwide in the fourth quarter of last year, the company also faced substantial losses.
In 2022, it reported a net loss of $470 million USD from revenues of $12.8 billion USD. Spotify’s monthly user count reached 515 million worldwide in 2023, a 22% increase from the previous year. This strong growth has resulted in a 44% increase in Spotify’s stock, reaching $152.18 million USD compared to a year ago.
The Wall Street Journal initially reported the news of the Sussexes’ departure from Spotify.