Will we ever have a 'Netflix for podcasts'?
Luminary launched in April 2019 as a paid-subscription service for podcasts. The company has been developing this idea since its founding last summer. They were able to raise $100 million dollars in venture capital, which is an unprecedented number for this industry.
Luminary has also set up partnerships with exclusive popular podcasting creators such as Love+Radio and the makers behind the popular political podcast Slow Burn. They have even started to sign up some big celebrity names, such as Trevor Noah and Queer Eye’s Karamo Brown.
However, the company has come under fire as it was reported that the app would also be offering a tier of unlimited free podcasts in addition to its exclusive content. This angered publishers and content creators who believe that Luminary is ultimately using their shows and content to attract listeners to the Luminary’s app - without paying any royalties.