Technology

Spotify buys new mystery theme focused podcast


After spending several million dollars on the purchases of new podcasts companies Gimlet and Anchor last month, Spotify is going further on its podcast market expansion with the purchase of a mystery theme focused podcast.

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Reported by Reuters, Spotify has agreed to buy the podcast startup, Parcast. It has a focus on mystery-themed content and has produced 18 “premium podcast series” over the last few years.

Parcast, founded in 2016, specializes in crime and mystery-themed audio content. It has launched 18 premium podcast series, including “Serial Killers,” “Unsolved Murders,” “Cults” and “Conspiracy Theories.”

It’s unclear how much money Spotify has spent for their new podcast purchases on Gimlet and Anchor, but it is believed that the company has spent over $300 million for these acquisitions. The company previously said that it had set aside $400-500 for future 2019 acquisitions.

While Apple has the best podcast market, Spotify CEO previously said that Apple is trailing to them at the second place. He then explained why moving to podcasts is more important for Spotify.

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In just shy of two years, we have become the second-biggest podcasting platform. And, more importantly, users love having podcasts as a part of their Spotify experience. Our podcast users spend almost twice the time on the platform, and spend even more time listening to music […]Based on radio industry data, we believe it is a safe assumption that, over time, more than 20% of all Spotify listening will be non-music content […] We are building a platform that provides a meaningful opportunity for creators, excites and engages our users, and builds an even more robust business model for Spotify in an industry we believe will become significantly larger when you add Internet-level monetization to it.

However, time will show everything Spotify wants us to see. As their subscription rates are going up, revenue for every registered user is dropping, making them to think better ways on podcasting.

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