News - 27/03/2019

Spotify is buying Parcast

Spotify is buying Parcast

Streaming giant Spotify is going to buy a third podcasting company. Indeed, shortly after acquiring Gimlet Media and Anchor, the company will soon own Parcast - a podcast production studio whose 18 shows include "Serial Killers", "Crimes of Passion" and "Unsolved Murders: True Crime Stories".

Spotify’s chief content officer Dawn Ostroff stated:

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.

The deal is expected to close in the second quarter of this year.

In a blog post, Spotify noted that Parcast has more than 20 staff working in its two studios in Los Angeles; and that more than 75% of its audience are women.

Spotify still hasn't unveiled how much it’s paying for Parcast, but the "Financial Times" claimed the deal is worth “more than $100m” for the company.

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