Spotify expands its podcasting portfolio with the acquisition of startup studio Parcast

Spotify has agreed to buy Parcast, a podcast studio that focuses on stories about true crimes, cults and unsolved mysteries. That makes it the third podcast startup acquisition for Spotify this year.

Spotify spent more than $300 million to acquire Gimlet Media, the maker of Reply All and other popular shows, and Anchor, the company behind an app that allows anyone to easily create their own podcasts.

Founded in 2016, LA-based 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 also has more than 20 new shows slated to launch later this year. The entire portfolio will go to Spotify.

The companies did not disclose the terms of the transaction, which is expected to close in the second quarter of 2019.

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