Spotify has announced the acquisition of Parcast as the company begins to explore the audio podcast arena for new content and business opportunities. This marks Spotify's third podcast-related acquisition in two months, and represents the company's ongoing plan to boost the music streaming platform as a hub for podcasts that can compete with Apple Podcasts.
Last month, Spotify purchased Gimlet Media for $300 million, acquiring the company's big-name podcasts like "Homecoming" and "Reply All." Around the same time, Spotify also purchased Anchor, a company that is more behind-the-scenes of the podcast world and lets its user’s record and create their own shows that can easily be shared online.
Parcast will be added to that list, and Spotify will now have ownership of its specialization in crime and mystery-themed podcast content, genres that are hugely successful in the market. Parcast is home to a big list of popular genres and podcasts, covering topics like cults, serial killers, haunted places, unexplained mysteries, extraterrestrials, and more.
These purchased shows will also join new and original podcasts created by Spotify, all of which will be curated by the team that built Spotify's Discover Weekly playlist algorithm. Eventually, the music streaming company hopes to become the Netflix of podcasts, able to provide recommendations on what to watch and house both third-party and exclusive first-party content.
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