Spotify buys true crime podcast company Parcast

Spotify’s Chief Content Officer Dawn Ostroff has reiterated the company’s ambition “of becoming the world’s leading audio platform” as it announces the acquisition of its third podcasting company this year.

The Swedish music streaming firm’s latest acquisition is Podcast studio Parcast, which specializes in mystery, crime, science fiction, and history content.

Last month Spotify acquired Gimlet Media, a New York-based podcasting production company and Anchor, whose software “enables anyone to easily create, distribute, and monetize a podcast” for around $300 million.

Parcast was founded in 2016 and has launched 18 premium podcast series including Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the studio’s first fiction series, Mind’s Eye.

The company will bring to Spotify its curated library of shows and has more than 20 new shows slated to launch later this year.

The transaction is expected to close in the second quarter of 2019 and subject to customary closing conditions.

“The addition of Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform.”

Dawn Ostroff, Spotify

Dawn Ostroff, Spotify Chief Content Officer said: “The addition of Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform.

“Crime and mystery podcasts are a top genre for our users and Parcast has had significant success creating hit series while building a loyal and growing fan base. We’re excited to welcome the Parcast team to Spotify and we look forward to supercharging their growth.”

“We are proud to join the world’s most popular audio subscription streaming service and gain access to one of the largest audiences around the world.”

Max Cutler, Parcast

Max Cutler, Founder and President of Parcast, added: “In three years, we have created a production house that has grown exponentially and hit a chord with mystery and true-crime fans, especially women, across all 50 states and around the world.

“We are proud to join the world’s most popular audio subscription streaming service and gain access to one of the largest audiences around the world.

“Alongside Spotify, our ability to scale, grow and amplify the unique and tailored brand of content we create is full of fantastic possibilities.”Music Business Worldwide

Related Posts