Spotify Set to Buy Parcast as It Continues Push Beyond Music

Spotify premium apk said on Tuesday that it had agreed to buy Parcast, a podcast producer known for crime and mystery series, as the streaming service continues its quest to become the biggest home of online audio.

The deal for Parcast, whose 18 shows include "Serial Killers" and the fictional series "Mind's Eye," comes several weeks after Spotify agreed to buy two other podcast companies: Gimlet Media, a podcast studio, and Anchor, a podcast tool maker.

All three acquisitions highlight Spotify's main goal: offering not just music, but essentially any content that users would want to listen to. By snapping up podcast producers, the streaming service is hoping to stock up on high-profile titles in its rivalry with Apple, which has historically been the top podcasting platform.

Podcasts help Spotify premium apk iOS in other ways as well. They are relatively cheap to produce, in that way improving the company's profit margins, and help reduce the service's reliance on expensive music licensing rights. And popular podcasts can attract a faithful audience of subscribers.The terms of the deal were not disclosed

Parcast, which was founded in 2016 and now has two studios and 20 employees, helps fill a particular niche in Spotify's lineup: crime and mystery shows. The podcast studio says that seven of its shows have debuted in the top three spots on Apple's podcast charts.

"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," Dawn Ostroff, Spotify's chief content officer, said in a statement.

Spotify added that 75 percent of Parcast's audience are women.

"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," Max Cutler, Parcast's founder, said in a statement.

Source : https://www.nytimes.com/2019/03/26/business/dealbook/spotify-parcast-podcasts.html