Spotify inks multi-year podcasting deal with Prince Harry and Meghan Markle

In its latest bid to outspend the competition on podcasting exclusives, Spotify this morning announced that it has signed a multi-year deal with Archewell Audio, a new production founded by Duke of Sussex, Prince Harry and Meghan Markel, The Duchess of Sussex. Financial details haven't been disclosed, but given the profile of the names and the cost of previous exclusives, it seems safe to suggest the company paid a pretty penny here.

The first full podcast series is expected to arrive at some point in 2021, and like all Spotify podcasts, will be free for subscribers. Before then, however, Archewell and Spotify-owned Gimlet will release a holiday special co-hosted by the Duke and Duchess. As you'd imagine, that's set to be released at some point this month. They will continue to both produce and host shows for the duration of the deal.

Here's what the pair had to say in a joint statement offered to Spotify,

What we love about podcasting is that it reminds all of us to take a moment and to really listen, to connect to one another without distraction. With the challenges of 2020, there has never been a more important time to do so, because when we hear each other, and hear each other's stories, we are reminded of how interconnected we all are.

Spotify, of course, has been spending hundreds of millions over the past couple of years to build a library of exclusive podcasting content. Last month the music streaming service spent $235 million to buy ad company, Megaphone. Other high-profile acquisitions include Gimlet, The Ringer, Parcast and Anchor. The company also signed controversial host Joe Rogan to a multi-year deal in excess of $100 million.