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article imageSpotify to acquire story teller Parcast

By Tim Sandle     Apr 1, 2019 in Technology
Audio streaming subscription service Spotify is to take over Parcast, which is a storytelling podcast studio which has grown in popularity in recent years.
Parcast was founded by Max Cutler in 216 and it has proved to be a success, especially with millennial audiences. The podcast service has launched 18 premium podcast series o date. This includes popular titles like Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the the fiction series, Mind’s Eye. Of these titles, Cults debuted at #1 on Apple Podcast charts.
With the new arrangement, Parcast will bring to Spotify all of its curated library of produced shows plus its audiences. The deal is expected to close in the second quarter of 2019, subject to customary closing conditions. The arrangement follows Spotify’s acquisitions of Gimlet Media, another podcast network, plus Anchor, which is a podcast creation app.
Commenting on the deal, Dawn Ostroff, Spotify Chief Content Officer said: "The addition of Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform."
She adds: "“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."
While Spotify has not disclosed the financial terms of the deal, the company is beginning to crave more content beyond music to lure in listeners. This has led some commentators to compare Spotify to the audio equivalent of Netflix.
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