Luminary Media announced that Simon Sutton, former President and Chief Revenue Officer of HBO, has joined Luminary as CEO. Matt Sacks, who founded Luminary in 2018, will serve as Executive Chairman of Luminary.
This comes after a series of personnel changes at Luminary. The company debuted in April of 2019. In August of 2019, co-founder Joe Purzycki stepped down as Chief Strategy Officer. Luminary replaced Joe Purzycki with Jeff Saunders, who is now Luminary’s Chief Product Officer. Previously, Jeff Saunders was the VP of Product and Technology at Jet.com.
“It is hard to imagine a more perfect, positive, and transformative development for Luminary,” Sacks said. “Simon is a seasoned media executive who at one point or another ran every functional area of one of the most successful subscription content businesses in the world, consistently growing subscribers, revenue, and profit.”
In addition to successfully recruiting Sutton, Luminary also announced that it had raised an additional $30 million in the first closing of a Series C financing from existing and new investors.
Luminary was founded by Matt Sacks in 2018 with backing from NEA. NEA is a global venture capital fund with $20 billion in assets under management, where Sacks previously was a Principle focused on consumer internet investments.
Sutton’s deep expertise aligns perfectly with Luminary’s approach to world-class talent like Trevor Noah, Conan O’Brian’s Team Coco, Lena Dunham, and Leon Neyfakh, as well as Luminary’s business model.