The Netflix of podcasts with $100M in funding

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And the content they are pulling from is a classic case of "what the bay area thinks people actually care about." All the promoted content creators there make me want to run the other way. Kudos to the founders for being able to raise $100MM for this with a straight face, but no freaking thanks.


It plays audio, I assume.


Things that play audio already exist.

Raising $100M and locking in exclusives with folks like Guy Raz, Lena Dunham, and Noah Trevor is one way to "brute force" a way into podcast subscriptions. @jason wrote about this exact strategy two years ago here. I'm happy to see more experimentation in this space although my worry is that podcasts will start to resemble the fragmentation we see in TV and film, where consumers are pulled to subscribe to Spotify, Apple, Luminary, etc. to get access to their favorite podcasts (which used to all be free and available on every platform using RSS – NYT Daily and Gimlet's Reply All are not available on Luminary). Curious to hear others POV on this. Will you subscribe to Luminary? Why or why not? 🤔
@jason @rrhoover I agree, feels like a brute force effort. At the end of the day, this sort of business is all about distribution. Getting it started is obviously the hardest part, but imo they need to really go deep on content and having enough that people care. They’re competing against the entrenched platforms already. Apple Podcasts sucks, sure, but we use it and are used to it. I use Spotify for podcasts too but still find myself on Apple Podcasts even tho Spotify is a better experience and is just a different app on my phone, and I’ve paid for it from US Day 1 Launch. I think to really take on those incumbents, this needs to be 10x+ better. I don’t think it’s there yet but I’m rooting for the team.
@jason @rrhoover While I agree that fragmentation will be annoying, I think there is room in the market for this. I don't mind paying $8 / month to avoid ads, and based on the value I get out of podcasts, and the number of hours a month I spend listening to them I think paying a bit for high quality content is fine. For me, podcasts are similar to Audiobooks in the type of value I get from it and I don't mind spending $15 on a book for my Kindle or Audible.
The lack of any Gimlet podcasts is killing me
Podcast apps are slowly but surely becoming a saturated market, interested to see if paid subscription models can become the new norm for podcasts, I personally have no issue with paying a monthly fee for access to a library of podcasts so as long as new ones are being added
I listen a a few podcasts for developers but have never met anyone else that listens to them. I'm also a Guy Raz fan from his days doing TED Talks. I certainly don't see his podcast as a big enough draw to get me to pay a monthly fee. I don't see a big market for people willing to pay for podcasts.