LINK: Spotify Acquiring Parcast
“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.
Parcast is really great at producing True Crime and Fiction shows. Spotify has become really good at throwing money around lately, and this is all about stepping up against Apple Music. Fantastic. The value add is now original content, and aside from the abysmal Beats 1, Apple Music has nothing. Spotify 3, Apple Music 0.