Spotify acquires another podcast network to keep building its original show catalog
Spotify announced today that it’s acquired Parcast, a podcast network that specializes in crime, mystery, and science fiction shows, for an undisclosed amount. The news follows Spotify’s recent acquisitions of Gimlet Media, another reputable podcast network, and Anchor, a podcast creation app. In its press release about the purchase, Spotify says that crime and mystery podcasts are “a top genre for our users,” and that’s why it felt Parcast was worth buying.
Given this, it makes sense that Spotify would want to invest in a network that already has the expertise to create intriguing shows. Spotify’s CFO Barry McCarthy has said the company is similarly modeled after Netflix in that it’ll develop “good, predictive algorithms,” so Spotify...