Home » Business » Spotify to Cut 200 Jobs Following Meghan Markle’s Podcast Deal Failure

Spotify to Cut 200 Jobs Following Meghan Markle’s Podcast Deal Failure

RoyaltyStreaming service Spotify has announced that it will cut 200 extra jobs after Prince Harry and Meghan Markle’s much-discussed audio deal failed to raise the expected amount of money and failed to materialize. Spotify paid Markle about $18 million for her podcast “Archetypes,” which launched last summer.

In August, the Swedish streaming giant proudly launched Meghan Markle’s brand new and first-ever podcast, “Archetypes,” but it’s struggling to stay in the top favorites. Last November she dropped even further to a weak 22nd position.

It is not the first time that Spotify has cut a large number of jobs. In January of this year, the streaming service announced that it would lay off about 6% of its 6,600 employees. Partly due to the large investment in their podcast offering and the lack of success, they are now cutting another 200 jobs.

We have made the difficult but necessary decision to make a strategic realignment of our group, reducing our podcast department by approximately 200 people

Sahar Elhabashi , Spotify Head of Podcast Department

In 2021, it was announced that Meghan and Prince Harry had received an insane amount of $ 25 million for an audio deal with the international streaming giant.

Meghan Markle’s podcast ‘Archetypes’ is nog steeds te streamen via Spotify.

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2023-06-07 19:55:33
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