 | |
| Type | Podcast network |
|---|---|
| Country | United States |
First air date | 2016 |
| Availability | International |
| Owner | Spotify |
| Established | 2016 |
Official website | parcast |
Parcast was a digital media firm and podcast network, that specialized in producing scripted podcasts and audio dramas. It was founded in 2016 by podcaster Max Cutler and his father Ron Cutler in Los Angeles California.[1]
In 2019, it was acquired by Sweden-based media firm and streaming service provider Spotify.[2] Spotify spent over $56 million to acquire Parcast; however, the total compensation has been reported to be over $100 million.[3][4] This makes the Parcast acquisition one of the largest podcasting platform mergers in US history and largest single acquisition deal of Spotify's $400 million acquisition program.[5] In September 2020, employees went public with their union drive at Parcast.[6] A month later, Spotify voluntarily recognized the union. 15 months later, 56 workers of the bargaining unit ratified their first collective agreement, which included a minimum salary of $70,000, annual increases and affirmative action when hiring.[7] On June 5, 2023, Spotify sent a memo to staff announcing that Parcast would be merged with Gimlet Media into a single Spotify Studios division, as part of a restructuring that also included the elimination of 200 jobs.[8]
- ^ "Spotify acquires true crime studio Parcast to expand its original podcast content". TechCrunch. Retrieved 2020-01-02.
- ^ Leach, Kamaron (April 26, 2019). "Spotify's Podcast Bet With Parcast Sets the Stage for Earnings". Bloomberg. online. Retrieved November 19, 2019.
- ^ "Spotify Paid $100 Million For Parcast: Report". Insideradio.com. Retrieved 2020-01-02.
- ^ Massoudi, Arash; Nicolaou, Anna (2019-03-26). "Spotify to buy podcasting business Parcast for more than $100m". Financial Times. Retrieved 2020-01-02.
- ^ Sawers, Paul (April 29, 2019). "Spotify confirms it paid $56 million for Parcast, taking its total podcast acquisition value to $400 million". VentureBeat. Internet. Retrieved December 2, 2019.
- ^ Carman, Ashley (2020-09-02). "A third Spotify-owned podcast company is starting a union". The Verge. Retrieved 2024-06-24.
- ^ Kilkenny, Katie (2022-04-18). "Spotify's Parcast Union Members Vote Unanimously to Ratify First Contract". The Hollywood Reporter. Retrieved 2024-06-24.
- ^ Weprin, Alex (2023-06-05). "Spotify to Slash Podcast Workforce, Combine Parcast and Gimlet Studios in New Round of Cuts". The Hollywood Reporter. Retrieved 2023-07-12.