Theverge | Spotify acquires another podcast network to keep building its original show catalog

Theverge | Spotify acquires one other podcast community to maintain constructing its authentic present catalog

Spotify introduced right this moment that it is acquired Parcast, a podcast community that makes a speciality of crime, thriller, and science fiction exhibits, for an undisclosed quantity. The information follows Spotify’s current acquisitions of Gimlet Media, one other respected podcast community, and Anchor, a podcast creation app. In its press launch in regards to the buy, Spotify says that crime and thriller podcasts are “a prime style for our customers,” and that is why it felt Parcast was price shopping for.

Given this, it is sensible that Spotify would wish to spend money on a community that already has the experience to create intriguing exhibits. Spotify’s CFO Barry McCarthy has mentioned the corporate is equally modeled after Netflix in that it will develop “good, predictive algorithms,” so Spotify is aware of what individuals like and may greenlight manufacturing based mostly off these forecasts.

On this case, Spotify did not want a classy algorithm to inform it one thing; it had listening information to assist make its buying determination. The corporate has beforehand referred to its buy of Gimlet as akin to Disney shopping for Pixar or Marvel — the studios retain their independence however reside inside, and richen, their company father or mother’s mental property library. Parcast hasn’t clarified whether or not it will preserve its crew or places of work, however Gimlet is preserving its Brooklyn, New York headquarters. Because the Gimlet deal’s announcement, the Gimlet inventive crew made its plans to unionize recognized, though Gimlet and its authorized counsel mentioned they will not voluntarily acknowledge the union.

Spotify mentioned it plans to spend as much as $500 million on podcast-related offers, so the corporate will doubtless have extra information later this yr.


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