This is an archived page from 2019. Find out more
On Wednesday, at the Forecast financial radio conference in New York City, former Luminary CEO Marty Sacks said he believes the Luminary model is sustainable and will be profitable in the long run.
Sacks launched Luminary with $100 million in VC money. Subscribers pay $8.00 per month for ad-free exclusive content. Sacks would not reveal how many paying subscribers the company had when asked at the conference yesterday. He would only say that the company was doing well.
Last month Luminary hired Simon Sutton as its new CEO. Sacks moved into the Executive Chairman position. Sutton is the former President and Chief Revenue Officer of HBO. Luminary also announced it has raised an additional $30 million in financing from existing and new investors.