Spotify Technology today announced that it has entered into a definitive agreement to acquire Parcast, a premier storytelling-driven podcast studio. Terms of the transaction were not disclosed.
Since its founding 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. 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.
“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.”
The transaction is expected to close in the second quarter of 2019 and subject to customary closing conditions.
Here are five fast facts about today’s news.
- Max Cutler founded Parcast in 2016. Since then, the company has launched eighteen premium series.
- Parcast’s home base is Los Angeles, California, where the company has two studios and over twenty employees.
- You can count the highly popular Unsolved Murders, Cult, Serial Killers and Conspiracy podcasts among Parcast’s high-end, scripted crime and mystery shows.
- These genres are particularly appealing to women—over seventy-five percent of the Parcast audience is female.
- Parcast will continue to develop its unique stories. In fact, there are more than twenty new scripted shows focused on topics like crimes of passion, the justice system, and the world’s most resilient survivors slated to launch later this year.