Just months after Meghan Markle's podcast debuted at the top of Spotify's charts, her lucrative deal with the audio giant has collapsed. Here's what may have gone wrong.
the output suggests "a lack of productivity" by Archewell Audio.
But Bill Simmons, who sold his podcast company to Spotify for $US196 million in 2020 and gained a leadership role in the deal, slammed the Sussexes when they left the platform. "Knowing the PR team at Spotify like I do, they must find it all very trying, and probably wish Simmons would keep his mouth shut."A few years ago, Spotify spent over $1 billion building its podcast business, acquiring podcast studios Gimlet and Parcast, and signing deals with marquee names like Joe Rogan, the Obamas, and the Sussexes.The industry has slowed. With interest rates rising around the globe, there's a focus away from growth and towards profits.
There's also been backlash against Spotify's restrictive deals, which require shows to only exist on the Spotify platform.The day after Spotify let go of staff from their Gimlet and Parcast studios, their unions released a statement laying some of the blame for low download figures on the exclusive model.The company has begun a trial in which one of its most popular shows, Science Vs, is now available on other podcasting platforms.
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