World’s most popular audio streaming subscription service, Spotify Technology, has announced entering into a definitive agreement to acquire Parcast, a premier storytelling-driven podcast studio, though terms of the transaction were not disclosed.
The transaction is expected to close in the second quarter of 2019 and subject to customary closing conditions.
Since its establishment in 2016, Parcast has launched 18 premium podcast series including Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the studio’s first fiction series, Mind’s Eye.
When the acquisition is finalised, Parcast will bring to Spotify its curated library of highly produced shows and its engaged, loyal audiences.
With an expertise in genres touching mystery, crime, science fiction, and history, Parcast has shown it has depth in subject matter and the ability to develop audiences across its robust network. Additionally, Parcast has more than 20 new shows slated to launch later this year.
“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.”
more recommended stories
Kiki Okewale Steals Spotlight in Bangkok
History was made at the just-concluded.
Ecobankmobile *326# Serenades Stars, Guests at AFRIMA Awards
Ecobankmobile *326# was the cynosure at.
Boomplay, Sony Music Expand Footprint in Africa
Boomplay’s vision to build the largest.
Accelerate Premieres 5 Short Films at African International Film Festival
The top five short films from.
Nollywood Stars, Stakeholders to Gather in Kano for 2019 BON Awards
By Dipo Olowookere Organisers of the.
9mobile Partners Lasmara to Fuse Art, Technology
By Adedapo Adesanya Nigeria’s top innovative.
Top Blogger Mr Porsche Begins Interior Decorations Business
By Modupe Gbadeyanka Celebrity Nigerian blogger,.
Kayode Alfred Joins ThisDay Newspaper
By Dipo Olowookere A notable society.