Spotify acquires another podcast network to continue building its original catalog.

Become the Disney of podcasts.

Table of Contents
  1. Become the Disney of podcasts.
  2. Spotify's CFO Barry McCarthy said the company is following the same model as Netflix in that it will develop

Spotify announced today which has acquired Parcast, a podcast network specializing in crime, mystery and science fiction shows, for an undisclosed amount. 

The news follows the recent acquisitions of Spotify from Gimlet Media, another renowned podcast network, and Anchor, a podcast creation application. 

In its press release about the purchase, Spotify says that crime and mystery podcasts are "a top genre for our users," and that's why it felt it was worth buying Parcast.

Given this, it makes sense that Spotify would want to invest in a network that already has the expertise to create interesting shows. 

Spotify CFO Barry McCarthy, said that the company follows the same model as Netflix in the sense that it will develop

"good predictive algorithms",

so Spotify knows what people like and can greenlight production based on those forecasts.

In this case, Spotify didn't need a sophisticated algorithm to tell it anything; it had listening data to help make its purchase decision. 

The company has previously referred to its purchase of Gimlet as similar to Disney's purchase of Pixar or Marvel: the studios retain their independence, but live within and enrich their parent's library of intellectual property. 

Parcast has not clarified whether it will keep its team or its offices, but Gimlet will maintain its headquarters in Brooklyn, New York. 

Since the announcement of the Gimlet deal, Gimlet's creative team made known its plans to unionize, although Gimlet and its legal counsel said that they will not voluntarily recognize the union.

Spotify said it plans to spend up to $ 500 million on podcast-related deals, so the company will likely have more news later this year.

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