Sunday , September 26 2021

Luminary, the podium platform for $ 100 million, launches

First post:

New York (AFP)

The American Platform for Podcasts Luminary launched on Tuesday with $ 100 million worth of investments, making it the most ambitious project ever in this young and busy market.

Originality, Luminary offers two versions of its platform: one free with an ad that includes most of the catalog with free podcasts already in circulation and the other pays, without advertising, $ 7.99 a month, including 25 exclusive podcasts – and more than 40 in the medium term. A similar model to Spotify's music.

Exclusive podcast includes podcast or celebrity references, such as actress and producer Lena Dunham ("girls") or host Trevor Noa ("The Daily Show").

Luminary, which is also available in Canada, the UK and Australia, predicts that the podcast industry is ready to go further on the payout path, such as video or music before it.

Financed by private investors, Luminary has already raised $ 100 million.

The newcomer's ambition is clear: to become a reference platform and the natural destination of podcast users, whether they are ready or not.

"Luminary has made great technological investments to develop an application that anyone can use to discover and hear content of their choice, whether publicly and supported by advertising or our premium + channel," says Mat Sachs. , co-founder and CEO of Luminary, quoted in a statement.

Podcasts often include an ad integrated directly into programs, or even read on air by the host (s), and therefore can not be separated from the program.

In March, Luminary wrote: "podcasts do not need advertising," indicating their intention to prefer a paid model and attract many critics.

Mat Sachs apologized in an interview published on Monday by The Verge.

Several podcasts, available for free on other platforms, refused to appear in the Luminary catalog. Like the New York Times' The Daily, or Gimlet Media podcasts, bought in February for $ 230 million from Spotify, which now plans to offer exclusive content.

Luminary is not the first to enter the pay-per-view market in a market dominated by Apple and Google, two free platforms.

Stitcher already offers $ 4.99 a month, just like Wondery ($ 5).

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