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Parcast
Media production firm From Wikipedia, the free encyclopedia
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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]
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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]
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History
Cutler, a 27-year old graduate of the University of Arizona, launched Parcast in 2016. He was inspired by the hit podcast Serial, itself a spinoff of This American Life. He believed that his network could produce podcasts of comparable quality while saving money on the production of individual episodes.[9]
Parcast's original focus was on producing scripted true crime series, but their scope expanded into the mystery, science fiction, and history genres as well as fictional audio dramas.[10][11]
Parcast produced over 40 daily and weekly shows, supported by a team of more than 75 voice actors, producers, and scriptwriters.[10] Following a decline in demand for the shows and the anticipated merger of Gimlet Media and Parcast into a single Spotify Studios subsidiary, the firm is expected to be disbanded sometime in 2023.[12][13]
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Audience
According to due diligence performed by Spotify, over 75% of Parcast's audience is female.[14]
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