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Media Entertainment

Spotify Makes Third Podcast Acquisition

Spotify is plowing ahead with its strategy to be the king of all things audio with the acquisition of Parcast, its third podcast company acquisition in just a couple of months.

Terms of the deal for Parcast, which specializes in mystery and crime podcasts such as “Serial Killer” and “Unsolved Murders” were not disclosed.

For Spotify, the deal is part of the company’s strategy to use podcasts to grow subscribers and advertising revenue. In February, Spotify bought Gimlet Media and podcast producer Anchor.

While podcasts are growing in popularity, they have yet to prove themselves as money makers. However, as Apple and other streaming services focus on video offerings, Spotify may be smart to stick to its roots in audio and seek to own that market. 

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