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Could this be the first crack in Luminary’s paywall plan to be the Netflix of podcasting?
Luminary Co-founder Joe Purzycki has resigned as Chief Strategy Officer. No reason was given for the change after only 6 months in business and The Verge is reporting that Purzycki has been replaced by former Jet.com VP Jeff Saunders. .
Luminary made a big splash on the podcasting scene back in April and ruffled a lot of feathers right out of the gate by tweeting “podcasts don’t need ads.” Many podcasters hoping to support their side hustle with ads were offended, along with everyone in the ad-supported podcast world. That post, before the company even launched, set off a series of fumbles for the $8 per month podcast company. It also lead to companies pulling shows from the app. CEO Matt Sacks eventually apologized.
Luminary has never revealed how many paid subscribers it has. It launched with a free and a paywall side in April after announcing it had $100 million worth of investors money to spend.
Comments:
I think you meant $100 million.