Spotify has declined to renew its exclusive podcast contract with former President Barack Obama and former First Lady Michelle Obama, according to Bloomberg.
The former first family’s production company, Higher Ground, is now in discussions with several companies, including Amazon’s Audible and iHeartMedia, on a deal to replace Spotify when the agreement ends in October 2022.
Spotify declined to make a new offer to the Obamas to replace the original deal that was signed in 2019 over the Obamas’ refusal to stick to an exclusive licensing deal. The Obamas reportedly blamed the exclusive deal for preventing them from reaching a wider audience – despite Spotify being the most popular streaming service for podcasts the year “The Michelle Obama Podcast” was produced.
“Higher Ground is seeking a deal that will allow it to produce several shows and release them on multiple platforms at the same time,” Bloomberg reported. “This could explain iHeart’s interest given that it hasn’t historically relied on an exclusive strategy for its podcasts. This is one reason why some potential bidders, like Spotify, have bowed out — a widely released show will end up on their service anyway. Companies like Spotify and Amazon have pursued exclusive rights to promote their own services.”
Streaming companies also want the Obamas to make more frequent appearances, but they are each only willing to appear in no more than an eight-episode series which some companies do not believe is enough to justify a deal similar to other popular podcasts.
Still, Higher Ground is reportedly hoping to find a new home for the Obamas’ podcasts within the next few weeks.
