Spotify Buys True-Crime Podcast Studio Parcast to Boost Audio Lineup
Spotify continues its aggressive podcasting expansion by acquiring Parcast, a bootstrapped studio famous for true-crime and mystery series. The financial terms of the deal remain undisclosed.
Spotify expands its original podcast offerings by acquiring Parcast, a studio known for popular true-crime and mystery series. This purchase follows Spotify's recent acquisitions of Gimlet and Anchor, showing the streaming giant's commitment to investing hundreds of millions into podcasting. Parcast currently produces 18 shows that attract millions of listeners and rank highly on iTunes charts.
The acquired studio operates as a completely bootstrapped business without any outside funding. Parcast features hit titles like Serial Killers, Unsolved Murders, and Cults, appealing strongly to true-crime fans, especially women. Unlike some other Spotify acquisitions, Parcast's existing content remains available on competing platforms like Pandora and Stitcher without becoming Spotify exclusives.
With about 20 additional programs in development for this year, Parcast sees Spotify's massive global audience as a way to scale its unique content significantly. The studio is also exploring television adaptations of its popular podcasts, which potentially opens the door for Spotify to expand into video production. The deal is expected to close in the second quarter of 2019.