Spotify just bought Parcast, another podcast studio

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Last month, Spotify made a huge statement of intent by buy not one, but two podcast companies. As well as buying Gimlet – the makers of Reply All and Homecoming – Spotify has also bought Anchor, a podcast hosting and distribution platform. Both purchases apparently cost Spotify a sizeable sum €300m (~£257m) combined.

Turns out it was just the beginning, like Spotify did Just announced the purchase of Parcast. You can get an idea of ​​the type of shows the company offers from the titles of its 18 series, which include Serial killers, unsolved murders, cults and conspiracy theories and Mind’s Eye.

The company has 20 other series it’s working on, and one of the reasons for Spotify’s interest was the huge appeal among female listeners. In his ‘five quick facts‘, Spotify revealed that more than 75 of Parast’s audience are women.

“Adding Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform,” said Spotify Chief Content Officer Dawn Ostroff, welcoming the deal. “Crime & Mystery podcasts are a premier genre for our users and Parcast has had significant success creating hit series while building a loyal and growing fan base. We are thrilled to welcome the Parcast team to the within Spotify and we look forward to fueling their growth.”

Max Cutler, the founder and president of Parcast was equally enthusiastic. “We are proud to join the world’s most popular subscription audio streaming service and have access to one of the largest audiences in the world. Alongside Spotify, our ability to scale, grow and amplify the brand of unique and bespoke content that we create is full of fantastic possibilities.

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The amount paid has not been revealed, but the deal is expected to close in the second quarter of 2019. Now all eyes will be on Spotify to see if this is the end of the podcast buying frenzy, or just the beginning.

Do you use Spotify for podcasts? Let us know on Twitter: @TrustedReviews.

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