Here's How Much The Obamas Have Made In Streaming Deals Post-White House

Here's How Much The Obamas Have Made In Streaming Deals Post-White House

Since moving out of the White House in January 2017, the Obamas have committed to creating a lot "content" for a lot of money.

Through Higher Ground Productions, Barack and Michelle Obama have already inked two major streaming contracts and won an Academy Award for their first movie.

  • The former first lady this week announced she would be hosting her own podcast.

While the financial terms of the Obamas' deals have not been publicly disclosed, leaks about similar agreements suggest the scale of their potential payout.

1. Spotify, June 2019

The deal: Barack and Michelle Obama reached an exclusive multiyear agreement with Spotify to develop, produce and lend their voices to select podcasts on a range of topics.

  • The partners promised to "lift up new, diverse voices in the entertainment industry."
  • According to a promotional video released on Thursday, "The Michelle Obama Podcast" is slated to debut on July 29.

The money: Spotify signed the Obamas as part of a plan to spend as much as $500 million on podcasting companies in 2019, The Wall Street Journal reported.

  • The music streaming company dropped about $400 million for three other major acquisitions last year, the Journal reported.
  • In May, Spotify reportedly paid uber-popular podcaster Joe Rogan more than $100 million as part of an exclusive licensing agreement.

2. Netflix, May 2018

The deal: The Obamas formed Higher Ground Productions and contracted with Netflix for multiple years to "produce a diverse mix of content – including docu-series, documentaries and features," the movie streaming company said at the time.

  • From among a slate of planned projects, the venture has so far yielded three documentary films, including 2019's Oscar-winner "American Factory" and this year's "Becoming," which was inspired by Michelle Obama's best-selling biography of the same name.

The money: By way of comparison, the cocreators of HBO’s "Game of Thrones" last August got $200 million in a multiyear film and TV pact with Netflix according to the Hollywood Reporter.

  • Ryan Murphy of "Glee" and "American Horror Story" fame in February 2018 signed a five-year Netflix deal worth a reported $300 million.

"Becoming," the book, by the way, was a product of what was reportedly the most lucrative presidential book deal in history.

  • Penguin Random House won't discuss the numbers, but the publisher reportedly paid north of $65 million for the rights to a memoir from each Obama.
  • Barack Obama is said to be "feeling competitive" with his wife as he struggles to match her smash hit, sometimes pointing out in conversation that he is not using a ghostwriter as she did.

President Donald Trump, who has questioned the propriety of the Obama's business dealings, was a successful author and TV star before being elected.

  • He last month told Fox News that if he does not win reelection in 2020, he will "go on and do other things."
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