Podcast startup Luminary is facing backlash — here's what's going on

Luminary is a startup that raised $100 million in funding to create what it describes as “Netflix for podcasts.”The company offers a service which has a free tier and a premium tier, costs $8 per month, and is expected to launch in June. An “Early Access” version of the app is available right now.But the company is facing major backlash from the world of podcasting, and major podcast producers are pulling their shows from Luminary.Here's what's going on.Visit Business Insider's homepage for more stories.With $100 million in startup capital and an ambitious plan to become the Netflix of podcasts, Luminary was off to a strong start.“We want to become synonymous with podcasting in the same way Netflix has become synonymous with streaming,” Luminary co-founder and CEO Matt Sacks told The New York Times in an interview this past March. But in the last week, amid an increasingly loud outcry from major podcast producers, Luminary has gone from a potentially huge new player in podcasting to a pariah. Here's what's going on.