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Spotify to buy another podcast studio: Parcast


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Spotify has bought a third podcasting company, shortly after snapping up Gimlet Media and Anchor. Parcast is more like the former: a podcast production studio whose 18 shows include Serial Killers, Crimes of Passion and Unsolved Murders: True Crime Stories. It has 20 more on the way later this year.

“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,” said Spotify’s chief content officer Dawn Ostroff. 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 isn’t saying (yet) how much it’s paying for Parcast, but the Financial Times claimed the deal is worth “more than $100m” for the company. That would bring Spotify’s total spending on podcast acquisitions this year to around $439m, since the company revealed in February that it paid €300m (around $339m) for Gimlet and Anchor. That’s significant, because Spotify had previously said it has earmarked between $400m and $500m for podcast acquisitions this year. So, Spotify may be done for now, or alternatively it may have up to $61m still to spend…

Stuart Dredge

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