Spotify Acquires Parcast

Deal

SPOTIFY TECHNOLOGY S.A. has gone shopping for podcast companies again, this time entering a definitive agreement to buy LOS ANGELES-based true crime podcast network PARCAST for an undisclosed price.  PARCAST has 18 series on its network, including "SERIAL KILLERS," "UNSOLVED MURDERS," "CULTS AND CONSPIRACY THEORIES," and the fiction series "MIND'S EYE," with 20 more shows slated for 2019 debuts.

“The addition of 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. “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. 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,” said PARCAST Founder/President MAX CUTLER. “Alongside SPOTIFY, our ability to scale, grow and amplify the unique and tailored brand of content we create is full of fantastic possibilities.”

SPOTIFY recently acquired podcast producer GIMLET MEDIA and podcast recording app/hosting service ANCHOR and has been increasingly aggressive in adding original, exclusive podcasts to its streaming music service.

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