After stepping down from royal duties, Harry and Meghan secured lucrative deals, including a $100 million Netflix contract and a Spotify deal. Harry’s memoir Spare sold 1.4 million copies on its first day, making it a 2023 best-seller.
Although financially cut off from the royal family, their contracts, Meghan’s $60 million net worth, and Harry’s $14 million inheritance from Princess Diana ensure their financial stability.
However, their media group, Archewell Audio, ended its multi-million-dollar Spotify deal. Spotify wanted more content, but Harry and Meghan desired greater flexibility in distribution. Archewell Audio focuses on producing content that promotes community and diverse stories.
Bill Simmons, who founded Spotify and later sold it for approximately $200 million, now serves as the company’s head of podcast innovation and monetization, referred to the Sussexes as “grifters.”
“I wish I had been involved in the ‘Meghan and Harry leave Spotify’ negotiation. The fucking grifters, that’s the podcast we should have launched with them,” Simmons said on the Bill Simmons podcast.
“I have got to get drunk one night and tell the story of the Zoom I had with Harry to try and help him with a podcast idea. It’s one of my best stories … Fuck them. The grifters.”
However, despite the failed deal, Harry and Meghan have found ways to finance their lifestyle.
“[Meghan] would not have been happy with the ultimately quiet or truly independent/non-royal lives that William and Harry’s cousins actually live,” royal commentator Jane Barr wrote in her From Berkshire to Buckingham newsletter, as reported by the NY Post.
“Meghan wanted to take her HRH and her title and be a superstar in her own sphere on the international stage,” adding that it would be “wholly separate from the control of the crown.”
Most recently, Meghan introduced her luxurious brand, American Riviera Orchard. In the promotional video, she was seen walking around a stunning mansion and cooking.
The first product, a lemon-filled gift basket containing fresh fruit jam, was sent to the Duchess’ closest 50 friends, many of whom celebrities.
Meghan Markle’s new brand could bring in seven figures quickly, according to PR expert Mayah Riaz. So far, only 50 jars of jam have been sent out, suggesting it will be an exclusive product. A single jar might cost in the three-figure range, a common pricing strategy for celebrity brands.
Riaz estimates that Meghan’s brand could generate seven figures within the first year and possibly reach multi-seven figures by the end of next year.
Meghan’s upcoming brand will feature products like oils, home fragrances, kitchen tools, and homeware. Her brand’s Instagram gained hundreds of thousands of followers in just 24 hours, showing her immense popularity.
However, the official launch date remains unclear. According to royal expert Tom Quinn, Meghan was upset with the response to her previous brand, American Riviera Orchard. The brand’s launch, particularly the expensive jam, was mocked, leaving Meghan feeling unfairly criticized.
Harry is also convinced that the “people are unfairly picking on [his wife]”.
“She is especially sensitive about any criticism of her luxurious lifestyle in the US – from her point of view, this is something to be admired, not criticized.”
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