Experts have raised concerns about the future of Harry and Meghan's brand following Spotify's decision to terminate their deal with the royal couple. The move could result in losses of up to
$10 million and poses a significant challenge to the couple's ambition of building a billion-dollar brand, according to industry insiders.
Meghan Markle's podcast, Archetypes, will not be renewed for a second season, as confirmed in a mutual decision between the Sussexes and Spotify. PR guru Mark Borkowski highlighted the negative impact of this development on the couple's brand, stating that "their star is really falling" and estimating potential losses of up to $10 million.
Borkowski emphasized the failure to deliver a high-quality product and the diminishing interest in the couple's endeavors, suggesting that their once-hyped brand is losing momentum. He further added, "It is not a good day for the long-term brand of Meghan and Harry."
The Archetypes podcast, which boasted high-profile guests like Serena Williams, Mariah Carey, and Trevor Noah, received mixed reviews from critics. Critics compared the listening experience to being in a self-involved yoga instructor's relaxation room at a wellness spa. Additionally, Spotify reportedly grew impatient with the slow pace of recordings, with only 12 episodes produced over two years.
Amid reports that the couple will cease producing documentaries and tell-all books due to a perceived lack of content, concerns are growing about their brand's future. Borkowski believes that the Sussexes could lose up to 40% of their $25 million deal, translating to approximately $10 million.
Brand and culture expert Nick Ede echoed the concerns, predicting that other brands might follow Spotify's lead and sever ties with the couple. He mentioned rumors of Netflix's dissatisfaction as well. Ede also suggested that Meghan's relaunch of The Tig, her previous lifestyle blog, is likely as her options become more limited. Drawing inspiration from successful celebrity brands like Gwyneth Paltrow's Goop and Kourtney Kardashian's Poosh, Ede believes Meghan could build her own community and brand.
The Spotify deal was a crucial component of the Sussexes' plan to achieve financial independence from the Royal Family. However, Borkowski, who previously envisioned a billion-dollar brand for the couple, now admits that their series of missteps make this outcome highly unlikely.