NEW YORK (CelebrityAccess) — Music streamer Spotify has bolstered its podcast offerings with the acquisition of the podcast studio Parcast.
Since its launch in 2016, Parcast has become known as a purveyor of true crime, science fiction, and history, and currently carries 18 different shows, including “Serial Killers” and the fictional series “Mind’s Eye.”
Additionally, Parcast has a slate of more than 20 new shows in the pipeline to launch later this year, and the acquisition will help Spotify fill out its niche in the true crime/mystery world.
“The addition of Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform,” said Dawn Ostroff, Spotify Chief Content Officer. “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 Max Cutler, Founder and President of Parcast. “Alongside Spotify, our ability to scale, grow and amplify the unique and tailored brand of content we create is full of fantastic possibilities.”
The financial terms of the deal were not disclosed but it follows on the heels of similar acquisitions by Spotify in recent weeks that include the podcast studio Gimlet Media and Anchor, a podcast technology company.
Podcasts are an increasingly important aspect of the digital content landscape, and unlike licensed music, they can be produced in house for relatively little money, increasing margins.
As well, podcasts are increasingly popular with consumers. Podcasts such as ‘Serial’ hosted by Sarah Koenig, the first season of which recounts the investigation around the 1999 murder of high school student Hae Min Lee, has been downloaded more than 340 million times since it launched in 2014. The Peabody Award-winning podcast has also jumped to television and is currently being featured in a documentary series on HBO “The Case Against Adnan Syed.”