Spotify continues building its podcasting platform by acquiring Parcast

Spotify is adding another podcasting company to its arsenal by acquiring Parcast Network, a premier studio focused on story-telling.

Parcast is known for producing high-quality audio podcasts that dive into topics such as history, mystery, crime and science fiction.

“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’s chief content officer in a press release. “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.”

Spotify did not disclose how much it paid for the podcast studio. However, the deal is expected to close in the second quarter of 2019.

The audio streaming service recently bought podcasting companies Gimlet Media and Anchor, a production studio and a do-it-yourself platform, respectively, on February 6th.

Source: Spotify

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