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Spotify to Acquire Parcast; Gimlet Union Update

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(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

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(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

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(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

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(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

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(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

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(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.

(1) Spotify announced this morning
that it is moving to acquire Parcast, the Los Angeles-based company
founded in 2016 by Max Cutler that trades in a genre-oriented,
high-volume portfolio with broad titles like Serial Killers, Cults, and
Unsolved Murders. (My dude Jonah Bromwich at the New York Times
has described the company’s fare as “pulp nonfiction” whose “lurid
storylines play out like snackable television,” which is a fair
assessment, I think.) The terms of the deal were not disclosed, and the
acquisition is expected to close in the second quarter of this year.
This is, of course, Spotify’s third podcast acquisition since picking up
Gimlet and Anchor for a combined $340 million earlier this year, and it
presumably eats into the later-stated $500 million budget it has set
aside for further podcast acquisitions.

Parcast currently has 18 shows on the market, with apparent plans to
roll out 20 more this year. The company currently has twenty employees,
and its audience is said to skew female (which is consistent with more general findings
about the true crime media genre). You should probably take note of
this quote from Spotify Chief Content Officer Dawn Ostroff, who joined
the company last summer, that’s circulated in the associated press
release: “The addition of Parcast to our growing roster of podcast
content will advance our goal of becoming the world’s leading audio
platform… 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.”

So between Anchor, Gimlet, and Parcast, I guess one way you could look
at it is that Spotify now has: a technology platform for third party
podcasts, a company built on a prestigious brand, and a company that
works in sheer volume. Interesting.

Anyway, one more thing to note: Parcast was previously associated with
Endeavor Audio, the new audio division of the media conglomerate
Endeavor. During Endeavor Audio’s launch announcement last September,
the Parcast network was said to be delivering nine million downloads a
month. It’s unclear if that’s raw downloads, or unique monthlies.

(2) So, as we reported on Thursday’s Insider,
Gimlet Media’s management declined to formally recognize the union last
Tuesday. The union organizing committee took to Twitter yesterday to
ramp up public pressure, laying out the situation from their
perspective: “Last week, Gimlet effectively declined voluntary
recognition. Instead, Gimlet’s lawyer came back with a surprisingly
aggressive counter-proposal. The company is trying to unilaterally cut
30 people from our proposed unit. Additionally, @Gimletmedia’s
leadership is demanding a revote, but the 30 people who were cut would
not be able to vote.”

You can see the full Twitter thread here.

I’ll be monitoring the situation. In the meantime, some questions to
keep in mind: How will broader Spotify management approach the
situation? How strong is the coalition that the organizing committee has
built among the workers? Also: what’s the argumentation around the
aforementioned 30 people?

Alright, moving on for now.