Last month, Spotify made a massive statement of intent by purchasing not one, but two podcast companies. As well as purchasing Gimlet – the creators of Reply All and Homecoming – Spotify also bought Anchor, a podcast hosting and distribution platform. The two purchases apparently cost Spotify a not insignificant €300 million (~£257 million) combined.
This, it turns out, was just the start, as Spotify has just announced the purchase of Parcast. You can get an idea of the kind of shows the company puts out from the titles of its 18 series, which include Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and Mind’s Eye.
The company has a further 20 series that it’s working on, and one of the reasons for Spotify’s interest was the huge appeal amongst female listeners. In its ‘five fast facts’ release, Spotify revealed that more than 75 of Parast’s audience are women.
“The addition of Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform,” Spotify’s chief content officer, Dawn Ostroff said welcoming the deal. “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”
Max Cutler, the founder and president of Parcast was equally effusive. “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. Alongside Spotify, our ability to scale, grow and amplify the unique and tailored brand of content we create is full of fantastic possibilities.”
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The amount paid hasn’t been revealed, but the transaction is expected to close in Q2 2019. Now all eyes will be on Spotify to see if this the end of the podcast buying binge, or just the beginning.
Do you use Spotify for podcasts? Let us know on Twitter: @TrustedReviews.
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Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.