Parcast

Parcast is a digital media firm and podcast network, that specialized in producing both scripted podcasts as well as audio dramas. It was founded in 2016 by podcaster Max Cutler and his father Ron Cutler in Los Angeles California. In 2019, it was acquired by Sweden-based media firm and streaming service provider Spotify. Spotify spent over $56 million to acquire Parcast; however, the total compensation has been reported to be over $100 million. 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. 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.