In a joint statement released by the Duke and Duchess of Sussex through their company Archewell Audio and Spotify, they stated that they had "mutually agreed to part ways" and were "proud of the series" both parties had made together.
But despite the amicable nature of the statement, the decision to cut the deal short may have more sinister undertones, with leading Spotify executive Bill Simmons slamming the royal couple in a podcast of his own.
"The f****** grifters! That's the podcast we should have launched with them," the American exclaimed angrily.
"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," he added.
For those unaware, to be labelled as a grifter means that a person "engages in petty or small-scale swindling."
Alongside the joint statement, a spokesperson for Archewell Audio revealed that the royals would continue to "develop content for the Archetypes audience on another platform."
The 'Archetypes audience' may no longer be referred to as such, however, with Meghan and Harry's trademark application for their podcast name being rejected.
Declined due to 'likelihood of confusion', reports show that the couple's lawyer has applied for another three months to work on the Archetypes application.
And whilst the podcast may live on for a second season elsewhere, the Sussex's have been dealt a heavy financial blow with their multi-million dollar Spotify-funded payday cancelled.
WATCH NOW: Sarah Ferguson throws support behind Harry & Meghan. Article continues after video.
Princess Diana's former butler, Paul Burrell claims this is due to the couple's lack of understanding regarding the type of content they were expected to deliver.
In conversation with Slingo, he asserted: "Obviously, Spotify was a money-making exercise as much as Netflix was and I think that Harry and Meghan both misunderstood what was expected of them."
"Of course, both Spotify and Netflix wanted royal content. After all, that's what they're famous for."
"Both Netflix and Spotify signed up for that content, for their story, for their experience with the royal family and sadly, I think it's been shortcoming," he added.
Curiously, a source close to the situation has also revealed to the New York Post that Spotify executives were also disappointed by the output from Archewell Audio.
During its 12-episode run, Meghan invited several of her celebrity friends such as Jameela Jamil, Serena Williams, Mariah Carey, and Paris Hilton to speak on topics close to her heart.
Does Meghan Markle have her own podcast?
Yes, Meghan Markle has her own podcast. It is called Archetypes.
What is Archetypes podcast about?
Meghan Markle invites various guests - such as Serena Williams, Paris Hilton, Mariah Carey, Mindy Kaling, and more - to "dissect, explore and subvert the labels that try to hold women back".
Where can I listen to Archetypes?
Archetypes is exclusively available on Spotify.
It is not yet clear if the first (and only season) will remain on the streaming platform, or will move to another.