Former CEO of JioSaavn, Rishi Malhotra, aims to help the Luminary go “beyond subscriptions,' while Dave Chappelle’s has made an investment.
, created and hosted by Chappelle and rappers. “I chose Luminary because they value artists and share my vision for re-imagining audio content,” says Chappelle in a press release. “The Midnight Miracle and our unique format is changing the podcast experience.” Malhotra describes the show, which debuted in May 2021, “as an audio Saturday Night Live.”
Chappelle’s Pilot Boy Productions’ investment, the amount of which was not disclosed. comes with a seat on Luminary’s board, which will be filled bySacks says the deal is a natural extension of Pilot Boy’s involvement with Luminary for which it executive produces, as well as a number of other shows in development. “For us as a business, having Dave and Pilot Boy as content creators, executive producers, shareholders and board members, has done a ton,” he says.
While Luminary hasn’t yet shared official subscriber figures, Malhotra says that they number around a couple of 100,000 people. Around 75% of the audience is based in the U.S. The United Kingdom and Canada are its biggest international markets. Part of the network’s strategy moving forward will be “going beyond subscriptions to deliver products that connect fans more uniquely to creators,” Malhotra says, potentially including merchandise, live events and NFTs.
“When I started looking at the product, there were natural pathways to artists being able to extend themselves,” he says. “There are things like artwork and audio transcripts that can be delivered as limited-run NFTs.” He added that Luminary will co-distribute the upcoming album byPrior to joining the platform, Malhotra helped grow SVOD service HBO On Demand’s business between 2003 and 2008.
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