Harry and Meghan could be forced to 'downsize' Montecito mansion after Spotify deal collapses

19 July 2023, 12:14 | Updated: 19 July 2023, 23:13

Prince Harry and Meghan Markle live in Montecito, California
Prince Harry and Meghan Markle live in Montecito, California. Picture: Getty/Alamy
Kieran Kelly

By Kieran Kelly

Prince Harry and Meghan Markle could be forced to downsize form their Montecito mansion following the collapse of their $20million Spotify deal.

The couple quit royal life in the UK for a more low-key life in Montecito, California, in the United States.

Harry and Meghan were hit with a blow after their $20million Spotify deal was cancelled, with the Duchess's 'Archetypes' podcast underwhelming streaming executives.

There are now fears their $98million Netflix deal could be cancelled, which would represent another major financial blow to the couple.

Read more: Harry and Meghan 'asked to return to US on Air Force One with the Bidens' after Queen's funeral

Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex attend a basketball game between the Los Angeles Lakers
Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex attend a basketball game between the Los Angeles Lakers. Picture: Getty

Such major financial blows could force the royal couple to downsize from their mansion, estimated to be worth short of $100million.

A source told Closer Magazine they are facing up to "mounting business pressures" following a threat to their "ailing" brands.

Read More: Prince Andrew’s move to former Harry and Meghan home ‘quietly shelved’ after Sarah Ferguson breast cancer surgery

Read More: Prince Harry 'planning new documentary in Africa without Meghan' as part of $100m Netflix deal

When they first moved into the Montecito mansion in 2020, a spokesperson for the couple said: "[They are] settled into the quiet privacy of their community since their arrival and hope that this will be respected for their neighbours, as well as for them as a family."

A number of celebrities are known to live in the lush neighbourhood, including Oprah Winfrey and Ellen DeGeneres.

Ellen DeGeneres and Oprah Winfrey live in Montecito too
Ellen DeGeneres and Oprah Winfrey live in Montecito too. Picture: Alamy

After Spotify ended their mega deal, Bill Simmons, who is Head of Podcast Innovation and Monetisation at the streaming giant, was quick to hit out at royal pair.

"The f***ing grifters. That's the podcast we should have launched with them," he said in the latest episode of his own podcast on Friday.

"I've 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."

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