Spotify Buys Parcast To Further Goal To Lead In Streaming Audio

Spotify Technology, producer of the audio streaming subscription service, announced Tuesday (March 26) it is acquiring Parcast, a storytelling-driven podcast studio, for an undisclosed sum.In a press release, Spotify said that since Parcast’s 2016 launch, it has rolled out 18 podcast series, which Spotify will bring to its curated library of shows for its users. Spotify noted that Parcast’s expertise in mystery, crime, science fiction and history will help advance its goal to lead in the audio platform market.Some of the podcasts Parcast has produced include Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the studio’s first fiction series, Mind’s Eye. The company has more than 20 new shows scheduled to roll out this year, noted Spotify in the press release.“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.”