Spotify continues to broaden beyond its musical subscription origins. It is closing a deal to acquire Parcast, a popular storytelling-driven podcast studio. Parcast has since its 2016 launch generated 18 premium mostly non-fiction podcasts that include Serial Killers, Unsolved Murders, Cults and Conspiracy Theories. It recently launched its first fiction series, Mind’s Eye. Spotify will gain access to its content library and growing audience. Parcast will launch over 20 new shows this year.
“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.”
Said Parcast founder and president Max Cutler: “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.”
The transaction should close in the second quarter of 2019. Price was not disclosed.