Partnerships / Acquisitions

Spotify Buys Parcast To Further Goal To Lead In Streaming Audio

Spotify Buys Parcast Streaming Podcast Platform

Spotify Technology, producer of the audio streaming subscription service, announced Tuesday (March 26) it is acquiring Parcast, a storytelling-driven podcast studio, for an undisclosed sum.

In a press release, Spotify said that since Parcast’s 2016 launch, it has rolled out 18 podcast series, which Spotify will bring to its curated library of shows for its users. Spotify noted that Parcast’s expertise in mystery, crime, science fiction and history will help advance its goal to lead in the audio platform market.

Some of the podcasts Parcast has produced include Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the studio’s first fiction series, Mind’s Eye. The company has more than 20 new shows scheduled to roll out this year, noted Spotify in the press release.

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

“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,” said Max Cutler, founder and president of Parcast. “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.”

Purchasing a podcast studio isn’t the only way Spotify is attempting to differentiate itself in the streaming music market. Earlier this year, the Financial Times reported Spotify is gearing up to launch an in-car music player that can be controlled by voice later in 2019.

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