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Spotify Acquires Podcast Network Parcast: Report

The transaction is expected to close in the second quarter of 2019, and subject to customary closing conditions

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Spotify Music still leads outside of the US, tallying 75 million subscribers as part of its first earnings report in May.
Spotify Music still leads outside of the US, tallying 75 million subscribers as part of its first earnings report in May. Pixabay

Swedish music streaming giant Spotify has announced it is acquiring Parcast — a premier podcast storytelling studio which specialises in crime, mystery and science fiction shows for an undisclosed amount.

Founded in 2016, Parcast has till date launched 18 premium podcast series including Serial Killers, Unsolved Murders, Cults and Conspiracy Theories and the studio’s first fiction series, Mind’s Eye.

Parcast would bring to Spotify its curated library of highly produced shows and its engaged and loyal audiences.

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“The addition of Parcast to our growing roster of podcast content will advance our goal of becoming the world’s leading audio platform,” Dawn Ostroff, Spotify Chief Content Officer, said in a statement late on Tuesday.

“Crime and mystery podcasts are a top genre for our users and Parcast has had significant success creating hit series while building a loyal and growing fan base. We’re excited to welcome the Parcast team to Spotify and we look forward to supercharging their growth.”

The transaction is expected to close in the second quarter of 2019, and subject to customary closing conditions. (IANS)

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Spotify Launches SAI Techonology for Podcast Advertising

Spotify launches new tool for podcast advertising

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Spotify on Thursday launched what it calls the 'Streaming Ad Insertion (SAI) at the ongoing CES 2020. Pixabay

Swedish music streaming company Spotify on Thursday launched what it calls the ‘Streaming Ad Insertion (SAI) at the ongoing CES 2020 here, a new proprietary podcast ad technology that powers Spotify Podcast Ads to insert more targeted advertising into podcasts in real time.

The SAI technology leverages streaming to deliver Spotify’s full digital suite of planning reporting and measurement capabilities for Spotify original and exclusive podcasts.

According to the company, this includes data such as actual ad impression, frequency (number of times a listener heard the ad), reach and anonymized audience insights (age, gender, device type). This is the first time this type of data is available for advertisers and podcast creators.

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With this technology, Spotify is offering the intimacy, quality and efficacy of traditional podcast ads with the precision and transparency of modern-day digital marketing. Pixabay

Advertisers generally have a sense for who they are reaching, based on survey data and the magazine’s target audience.

Total circulation measures the number of doorsteps that the issue hits, but there’s no precise data on how many readers actually opened the magazine, let alone reached or acted on the ad.

Until now, podcast advertising has experienced many of these same challenges because the medium is still largely downloaded via static Really Simple Syndication (RSS) feeds.

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But the shift in consumption from downloads to streaming has opened the door for advances in data-driven podcast advertising, and the company is moving beyond these constraints to reimagine what is possible for this uniquely powerful and intimate medium.

With this technology, Spotify is offering the intimacy, quality and efficacy of traditional podcast ads with the precision and transparency of modern-day digital marketing. (IANS)