What is a fair price for ridding oneself of podcast ads? Luminary CEO Matt Sacks is betting it’s $8.99 a month. At least that’s how much his just-launched podcast platform charges for its big-ticket roster of premium exclusives.
Podcasts, once merely the province of long-winded, starry-eyed monologists, have gone corporate in a big way, with several companies vying for which one will become the one true Netflix-for-podcasts. (A prospect Fast Company’s Melissa Locker sees as more a threat than a promise.) As Apple Podcasts slips in market share, platforms like CastBox, Stitcher, and the lavishly funded Himalaya have arrived, and Spotify has thrown down the gauntlet with its recent purchase of Gimlet Media and Anchor, two of the world’s mightiest podcast hubs.
Luminary made a splash in 2018 with its initial $40 million in funding (which has since ballooned to $100 million) and a shrewd acquisitions strategy. Now that the platform is officially open for business, it’s time…
