Spotify’s Latest Business Move May Be Hinting at Troubles With Meghan Markle’s Podcast
It seems Meghan Markle’s award-winning podcast Archetypes may be in trouble, or at the least, may have caused some serious trouble.
Spotify reportedly paid Meghan around $18 million for her podcast, but reports show that they may have forked over too much money for the payoff they got. Simply put, it seems the company’s deal to acquire Archetypes may not have been the right business move for them, according to the New York Post.
After laying off around 400 of its 6,600 employees in January, it seems Spotify is set to lay off another 200 before the end of the month. Spotify’s Head of Podcast Business Sahar Elhabashi said in a statement on the company’s blog, “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% of Spotify’s workforce.”
It seems Spotify may be regretting its multi-million dollar decision to snag Archetypes, and the company-wide lay-offs may be hinting that they failed to rake in the sum they thought they’d get.
Despite earning a coveted Gracie Award and snagging A-listers left and right for interviews, Archetypes hasn’t reached the same success it did when it debuted in Aug 2022. In fact, within three months, it had already slid down past the top 20 slots.
And it doesn’t help that there has been no confirmation from the Duchess of Sussex if she’ll return for another season of the podcast.
Before you go, click here to see more of Meghan Markle & Prince Harry’s milestones since leaving the royal family.
