Luminary is a subscription

podcast A podcast is a Radio program, program made available in digital format for download over the Internet. Typically, a podcast is an Episode, episodic series of digital audio Computer file, files that users can download to a personal device or str ...

network that launched on 23 April 2019.

History

It was launched by Luminary Media LLC, a venture-backed company, that was co-founded in 2018 by Joe Purzycki, and Matt Sacks. Preceding the launch, the company had raised $100 million in

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

, from

New Enterprise Associates New Enterprise Associates (NEA) is an American-based venture capital firm. NEA focuses investment stages ranging from seed stage through growth stage across an array of industry sectors. With over $25 billion in committed capital, NEA is one of t ...

and Sinai Ventures, among others. Nicholas Quah, writing for Vulture.com, described Luminary's launch week as "horrific", with licensing and permission issues, and other controversies. In late 2019, Simon Sutton replaced Matt Sacks as

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

. In May 2020, ''

Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg T ...

'' called Luminary a "money-losing podcasting startup" with an app that "has struggled to find an audience since its debut in April 2019. Only about 80,000 people who tried the app have remained paying subscribers" per sources. ''Bloomberg'' reported that the company had received "$30 million in a new round" of investment and was looking for additional funding due to the

COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...

. Nicholas Quah, for ''

Nieman Lab The Nieman Foundation for Journalism is the primary journalism institution at Harvard University. History It was founded in February 1938 as the result of a $1.4 million bequest by Agnes Wahl Nieman, the widow of Lucius W. Nieman, founder of ' ...

'', commented that in light of ''Bloomberg'''s report "it would seem that Luminary's fundamental problem is that it didn't end up signing anybody who had a powerful enough pull to drive that many paid listeners. Sure, it assembled a catalog of interesting stuff, but it doesn't have a world-building

Howard Stern Howard Allan Stern (born January 12, 1954) is an American broadcaster and media personality. He is best known for his radio show, ''The Howard Stern Show'', which gained popularity when it was nationally syndicated on terrestrial radio from 1 ...

Bill Simmons William John Simmons III (born September 25, 1969) is an American podcaster, Sports journalism, sportswriter, and cultural critic who is the founder and CEO of the sports and pop culture website ''The Ringer (website), The Ringer''. Simmons fir ...

-level asset, plain and simple". Early 2022, Rishi Malhotra became CEO. In March 2022,

Dave Chappelle David Khari Webber Chappelle ( ; born August 24, 1973) is an American stand-up comedy, stand-up comedian and actor. He starred in and co-created the satirical comedy sketch series ''Chappelle's Show'' (2003–2006) before quitting in the middle ...

's Pilot Boy Productions invested in Luminary with an undisclosed sum; Chappelle's podcast is also hosted by Luminary. Later that month, Jacob Kastrenakes, for ''

The Verge ''The Verge'' is an American Technology journalism, technology news website headquarters, headquartered in Lower Manhattan, New York City and operated by Vox Media. The website publishes news, feature stories, guidebooks, product reviews, cons ...

'', commented that "maybe Luminary's subscription-only podcast model still has legs". However, after scanning "the company's website before my chat with Malhotra, and nearly all of the shows featured on the front page hadn't posted new episodes in the past six months. In fact, if you look around Luminary's website, it's hard to find ''any'' shows that have updated recently. That's a tough sell for a service with a monthly subscription fee. ..Luminary shows will continue to start and stop publishing throughout the year, Malhotra said, being produced in seasons more like a TV show". The 2023 album '' Liberation 2'' from

Talib Kweli Talib Kweli Greene (; born October 3, 1975) is an American rapper. He first earned recognition through his collaboration with fellow Brooklyn rapper Mos Def (now known as Yasiin Bey) in 1997, when they formed the group Black Star. Kweli's music ...

and

Madlib Otis Lee Jackson Jr. (born October 24, 1973), known professionally as Madlib, is an American record producer, DJ, multi-instrumentalist, and rapper. Critically acclaimed for his eclectic, music sample, sample-heavy production style, he is rega ...

was released exclusively on Luminary.

Programming

References

{{Reflist Podcasting companies American companies established in 2019