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by Mike Murphy
A $20 million, multi-year deal resulted in just one 12-episode podcast series.
Podcaster and Spotify Technology SA executive Bill Simmons said Prince Harry and Meghan Markle were ‘cheaters’ after the royal couple ended their relationship with the streaming platform following an unproductive production deal. I think.
Last Thursday, the couple and Spotify (SPOT) announced that their multi-year podcast deal had apparently ended prematurely. The production deal, which was signed in 2020, is reportedly worth around $20 million, but resulted in just one 12-episode podcast series. The deal was meant to be a key part of Spotify’s foray into the podcasting space.
After the deal ended, Simmons, who founded The Ringer, which Spotify acquired for about $200 million in 2020, and is now Spotify’s head of podcast innovation and monetization, has ripped the royal couple apart.
“I wish I had been in the ‘Meghan Markle and Prince Harry leaving Spotify’ negotiations,” he said on Friday’s Bill Simmons podcast. “‘The Fa Ing Grifters'” That’s the podcast we should start with them. One night I got drunk and had to tell a Zoom story I used with Harry to help me with an idea for a podcast. It’s one of my best stories. Phew, they. Grifter. ”
Spotify’s podcast push hasn’t gone as far as hoped. The company’s Gimlet podcast network fell into disrepair, and in early June Spotify laid off about 200 people in its podcast division in a “strategic restructuring.”
Simmons, who is known for his passionate views on sports and pop culture, has previously been vocal about his displeasure with Prince Harry. “Shoot this guy into the sun, I’m really sick of this guy,” he said on a January podcast.
“What kind of work does he do?” Mr. Simmons continued. “It is, what is your talent? Why do we ask you for your opinion? I mean, you were born into the royal family, then you left… you live in fucking Montecito and you I just like it.” Selling documentaries and podcasts doesn’t really matter what you have to say unless you’re just talking about the royal family and complaining. ”
-Mike Murphy
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(Closed) Dow Jones Correspondence
06/19/23 1448ET
Copyright (c) 2023 Dow Jones & Company, Inc.
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