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The Duke and Duchess of Sussex, Harry & Meghan Markle have accepted a podcast multi-year deal(unknown amount) with Spotify.
The content is said to be mainly inspirational stories, docuseries, short films and children’s content.
The podcast’s first episode will air a story on hope and compassion celebrating the new year under the banner of Archwell Audio.
Spotify is going above and beyond to build the user base for its podcast. The platform currently boasts 340m active and 144m premium users. They did a recent deal with Joe Rogan for $100m this year, now this.
Apple passed on(willingly) on building its podcast network but why is Spotify leaving no stone unturned?
- The marginal costs of the business are minimum and it is highly likely for Spotify to make podcast’s access limited to premium consumers.
- Media companies are pivoting & motivated to building 1:1 relationship with the audience. The motivation stems from the growth of platforms like OnlyFans Entertainment & Substack Writing.
The motivation is based on the proof of concept that it can be monetized. Expect the advertisement to take a back seat and get ready to pay up for content in the future. - The multi-year deals blow the competition right out the water. I don’t have a…
