Spotify has expanded further into the podcasting business with the acquisition of Parcast , which is best known for its true - life productions . The move follows Spotify 's purchases of podcast networks Gimlet and Anchor for $ 500 million , and the podcast giant 's commitment to invest up to another $ 500 million into its podcast business . Parcast productions are available on platforms including iTunes , Pandora and Stitcher , and there are said to be no plans to make content exclusive to Spotify .
Spotify has expanded further into the podcasting business with the acquisition of Parcast, which is best known for its true-crime productions. The move follows Spotify's purchases of podcast networks Gimlet and Anchor for $340m, and the streaming giant's commitment to invest up to another $500m into its podcasting unit. Parcast productions are available on platforms including iTunes, Pandora and Stitcher, and there are said to be no plans to make content exclusive to Spotify.