- The British press was rife with claims that Prince Harry and Meghan Markle would earn up to $1 million per speech on the speaking circuit.
- When compared to the fees commanded by the Obamas and Clinton’s of this world, it always seemed very unrealistic.
- A source has claimed that the fees likely to be paid to Harry and Meghan won’t come near such an amount.
Remember when outlandish claims were made about the earnings Prince Harry and Meghan Markle could command as speakers?
Numbers as high as $1 million were touted, with so-called experts falling over themselves to claim that the Sussexes were on an equal footing to the likes of the Obamas.
It seems that now the hysteria has died down a little on that aspect of Meghan Markle and Prince Harry’s earning plan, we’re seeing some realism creep in.
Meghan Markle and Prince Harry are not going to earn $1 million per speech
Only the most devoted of Meghan and Harry fans bought into the media headlines, while the rest of us were a little more realistic.
Will Prince Harry and Meghan Markle have companies willing to pay to hear them ramble on about a mish-mash of “hot button” topics?
But not at the prices mentioned.
What are the top speakers in the world being paid?
Someone as well-known and respected on the speaking circuit as former U.S. President Bill Clinton is, for example, being paid $125,000 for a speech at Morgan Stanley Dean Witter & Co. in New York.
We’ve seen Meghan Markle and Prince Harry ludicrously compared with another former President in Barack Obama, along with former First Lady Michelle Obama.
Even as I type this, I’m still not entirely sure what the grounds for comparisons are.
Regardless, it’s relatively safe to assume if Barack Obama is pulling in $400,000 per speech on average, Meghan Markle and Prince Harry aren’t making $1 million.
Don’t get me wrong; I’m not belittling the reputation that Prince Harry primarily will bring to the table. A member of the British royal family will command a level of interest, especially when it’s the son and brother of two future Kings.
But there’s a ceiling, despite what the British tabloids would have us all believe.
So, what could Prince Harry and Meghan Markle stand to earn?
The leaked four-page document that detailed the restrictions, requirements and demands placed on anyone looking to work with the Sussexes made waves in the media, as you’d expect.
An events manager speaking to the Express did concede that pre-pandemic the $750,000 and above figure “seemed steep, but possible,” most likely based on the fact that someone as unique as Prince Harry has never really been available to the speaking circuit before.
But now? The events experts claimed:
Realistically, their earnings range is closer to $250k to $400k.
Such a fee sounds more attainable, in my opinion.
Regardless of what we in the royal bubble and living in Britain may think, the truth is that in the States, a former President, especially someone like Obama or Clinton, is going to carry more gravitas than the future King’s brother and his failed actress wife.
If Barack Obama sees an average of $400,000 per speech, I don’t see Prince Harry or Meghan Markle earning more than that.
The strict and diva-like conditions imposed by Harry and Meghan will be a factor
The events manager also raised the issue of the diva-like conditions being put in place by the Sussexes:
With those types of fees, that is where the negotiations on their roles becomes tricky. While every speaker has a right to demand the parameters of an appearance, as the price increases often, so do the expectations of clients. In that grey area are negotiations and discussions, until everyone reaches a compromise.
The source continued:
The contract paperwork appears to read that the speakers have full control of the client’s event. It certainly raises eyebrows and will put off many potential large corporations. Not many clients ever like inviting talent as star guests, who may be seen as running their event and telling them what to do.
Meghan Markle and Prince Harry need to strike while the iron is hot
It cannot be denied that the Sussexes are hot property at the moment. What can also not be denied is that they won’t be a desirable property for very long.
As I said previously, there’s a novelty factor involved with Prince Harry. There have been few times when a member of the royal family has been available for hire in such a manner.
But Prince Harry is a novelty. Meghan Markle is his plus one, so to speak.
So, while President’s and other figures who have accomplished much on a global scale can cash in on a lifetime of accomplishments, Harry and Meghan don’t have that.
They’re both the equivalent of “celebrity of the week,” and the events expert believes that around 90 percent of the interest in the couple will fade “once their speaking brand reaches its peak.”
They would do well to cash in while they’re relevant.
Disclaimer: The opinions expressed in this article do not necessarily reflect the views of CCN.com.