Barack and Michelle Obama ‘talk to Spotify rivals about lucrative podcast deal’ Business

Barack and Michelle Obama are reportedly parting ways with Spotify as they seek to release more content on other platforms.

The former First Family production company, Higher Ground, has decided not to sign a new contract with the audio platform.

Their company is discussing with other rivals a deal worth tens of millions of dollars, potentially making it one of the most lucrative deals in the podcast industry, according to Bloomberg.

Higher Ground is in talks with Audible and Amazon’s iHeartMedia as it seeks to produce multiple shows and release them on multiple platforms at the same time. The company wants to find a new partner in the coming weeks.

Meanwhile, Swedish giant Spotify reportedly refused to make an offer. Companies like Spotify and Amazon have sought exclusive rights to promote their own services.

The Obamas first signed a deal with the music streaming giant in 2019 as they focused on future business ventures after their presidency.

They have produced podcasts including “The Michelle Obama Podcast” – one of Spotify’s top five most popular shows of 2020 – where the former first lady chats with friends and family about relationships.

Spotify has spent hundreds of millions of dollars working exclusively with some of the most popular podcasters, including Joe Rogan and Bill Simmons.

The Obamas hoped to use future deals to provide a platform for a range of voices, while Spotify would have liked more content featuring the former president and first lady because of their star power.

Higher Ground produced five shows for Spotify, including “The Big Hit Show,” one of its only shows that did not feature a member of the Obama family.

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This notice was published: 2022-04-21 08:16:14

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