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Harry and Meghan to Keep $5 Million of Spotify Deal
In a surprising turn of events, it has been revealed that Harry and Meghan will be able to keep $5 million of their $20 million deal with Spotify.
At first glance, this may seem like a substantial amount for a podcast that potentially only reaches a small audience of around 10 people per episode.
However, when considering the immense media value that Spotify gained from signing and terminating the deal with the royal couple, this figure appears to be quite reasonable.
It is worth noting that a significant portion of the money may have already been spent by the Duke and Duchess of Sussex.
Their expenses include security costs, home maintenance, and even luxurious items such as Hermes blankets.
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Nevertheless, this new development allows them the freedom to negotiate a fresh contract, with 10% of the earnings going to their agency, WME.
Reports have surfaced suggesting that Prince Harry and Meghan Markle’s children, Archie and Lilibet, could have played a role in their now-axed Spotify deal.
Although Harry did not produce any content, sources indicate that he pitched some of his own ideas to producers, including one centered around fatherhood.
The prince was keen on sharing his personal experiences of raising his two children, Archie and Lilibet.
According to Bloomberg, Harry mostly stuck to his own ideas during discussions with multiple producers and production houses.
Meanwhile, Dan Wooten claims that Netflix is planning to sever ties with the Sussexes.
A senior Hollywood source revealed that Netflix is envious of how quickly Spotify was able to terminate its contract with Harry and Meghan.
The insider further stated that the Netflix deal has been a nightmare to navigate from start to finish and has not lived up to expectations.
The Sun reported that Netflix has given the couple an ultimatum.
If they wish to receive the outstanding fees amounting to $51 million, they must produce better content.
So far, Harry and Meghan have allegedly only received half of their £81 million contract.
An industry source disclosed that the remaining payment is contingent upon the production of genuinely captivating content.
However, it seems unlikely that there will be a public fallout between Netflix and the Sussexes.
An industry insider emphasized that Netflix was initially pleased to sign Harry and Meghan and is still hopeful for great ideas in the future.
Nevertheless, the success of the remainder of the deal hinges on the couple’s ability to generate compelling concepts.
It is customary for contracts of this magnitude to undergo continuous review.
Unfortunately, some individuals at the top seem to hold a less favorable attitude towards the couple.
A source claimed that Meghan, in particular, appears to be living in her own bubble and fails to grasp the economic reality of their situation.
The source added that the big bucks Harry and Meghan were promised when they signed on no longer exist.
Furthermore, their lack of success with Netflix and Spotify has led to criticism of their content.
A PR expert stated that their offerings seem to be catering solely to their own circle rather than appealing to a wider audience.
As they plan a new show inspired by Charles Dickens’ Great Expectations, titled Bad Manners, it is clear that they are attempting to revive their dwindling fortunes.
However, the PR expert noted that their failure to produce shows of interest to the public indicates a disconnect from their audience’s tastes.
Royal author Richard Fitzwilliams expressed his reservations about the couple’s recent endeavors.
While Meghan’s narration of Elephant for Disney was well-received, taking on a Dickensian project raises eyebrows.
Meghan’s animated series Pearl was canceled by both Netflix and Spotify, leaving much to be desired.
Many are now questioning the true extent of their talent and their ability to appeal to an international audience, considering their high profile.
Harry’s documentary, Heart of Invictus, is reportedly set to be released soon.
However, given their past performance and the questionable choices made in Harry’s memoir, it is reasonable to question their decision-making.
One would assume that Meghan’s new agent should be able to secure more work opportunities for the couple.
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