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."
And whilst Archetypes 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.
Curiously, a source close to the situation has 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.
Yes, Meghan Markle has her own podcast. It is called Archetypes.
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".
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.