Spotify Is Buying A New Podcast Called Parcast

Illustration by Alex Castro via The Verge

Spotify has acquired a new podcast network company called Parcast, and it produces high-quality mystery, science fiction, and crime shows. The price that Spotify paid for Parcast has not yet been revealed. This is the 3rd podcast company that Spotify has acquired; the first one was a company called Gimlet Media, and the second one was a company called Anchor. Spotify has said the reason for the purchase is that they think the majority of their users enjoy mystery and crime shows. Spotify has also confirmed that it plans to purchase more podcast companies with a budget of $500 million to do so.

The CEO of Spotify, Barry McCarthy, has stated that Parcast has some similarities to Netflix because it has good predictive algorithms. Spotify has compared all of their acquisitions of these companies to Disney’s acquisition of Pixar or Marvel because the company that the purchased still gets to operate as if it was independent, such as Gimlet. Gimlet was allowed to keep their main office in New York.

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