Spotify announced on Tuesday that it has entered into a definitive agreement to acquire Parcast, a narration-based podcast studio. The terms of the transaction have not been disclosed.
"Adding Parcast to our growing list of podcast content will advance our goal of becoming the world's leading audio platform," said Dawn Ostroff, content manager at Spotify.
Parcast offers 18 series of high quality podcasts, based on scenarios and stories, including Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the Studio's first fiction series, Mind & # 39; s Eye. According to Spotify, these genres are particularly attractive to women. More than seventy-five per cent of Parcast spectators are women.
"In three years we have created a production house that has grown exponentially and struck a chord with fans of mystery and real crime, especially women. 50 states and around the world, "said Ostroff.
Parcast will continue to develop his own stories. In addition to Parcast's current series of podcasts, the studio is developing more than twenty new scripted shows focusing on topics such as crime crimes, the justice system and the world's most resilient survivors, which Spotify plans to launch. 39; here end 2019.
Why You Should Care About It
The Podcast Industry As a Whole is Growing and Spotify considers itself to be the Second largest podcast platform in the world behind Apple. The acquisition further strengthens the advertising revenue of Spotify's competitive advantage and podcasts.
The IAB and PwC predict that advertising revenue from podcasting will more than double to $ 659 million by 2020.
Although Spotify does not does not show ads to Premium subscribers, some podcasts may contain third-party ads in their episodes. For some marketers seeking to achieve certain demographics, podcast advertising could prove to be an effective way. White papers such as the IAB Podcast Reading Book: A Guide for Marketers are a good starting point for marketers who want to know more about this opportunity. Spotify's Ad Studio program also offers many resources and tools for advertisers.
Learn more about the agreement
Spotify has announced plans to spend up to $ 500 million in podcast startups this year. In February Spotify spent $ 337 million to acquire the Gimlet Media podcasts network and Anchor.Spotify production house claim over 200 million users worldwide, far behind the near of a billion Apple users.
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