CITY, Month Day, Year — Wayne Wright, a key financial backer of The Platform, has taken full ownership of the media venture, acquiring the Wright Family Trust’s shares in March. The platform, which began in September 2021, now relies solely on advertising, subscriptions, donations, and merchandise for revenue.
### Wright Takes Full Control as Platform Seeks Sustainability
Wright now holds 75% of The Platform through related parties, with co-founder Sean Plunket retaining 25%. The transition from startup funding, which Wright described as being in the millions, was planned since August of the previous year.
“It’s a tough industry, and you know that better than anyone,” Wright stated today, acknowledging the company’s month-to-month struggles. “We struggle month to month, but we have survived on our own, if you will, since March.”
Plunket described the business’s financial performance as “lumpy, bumpy,” attributing challenges to rapidly changing technology and the need for constant adaptation.
Wright emphasized that he hasn’t injected personal funds since March. “As we go month to month, some months we make a little bit and some months we lose a little bit, but it remains quite touch and go,” he said. He also noted a potential complacency among listeners, who might assume continued family backing.
Plunket is optimistic about attracting more subscribers, aiming to launch a live video stream on the app within the next week.
### Plunket Faces Backlash for Gaza Social Media Post
The Platform’s future comes amid controversy surrounding a social media post by Plunket on X, stating, “I’m really concerned about the mass outbreak of anorexia in Gaza.” The post drew significant criticism, with some calling it “objectively heinous.”
Wright addressed the backlash, affirming his support for free speech and The Platform’s aim to provide a voice without fear of cancellation. While he doesn’t always agree with Plunket’s humor or controversial attempts, Wright believes in protecting editorial independence.
“I don’t control Sean or anyone else,” Wright communicated to those complaining via email. “It is obvious by the number of similar emails I am receiving on this topic that there is a coordinated response to Sean’s comments so I recommend some of you call his show to discuss your views.”
Wright clarified his position, stating, “Look, I don’t agree with everything that Sean says. I think that what he was writing there was an attempt to be ironic, but frankly, it may have fallen flat. But that’s really for Sean to address.” Plunket, when asked about Wright’s assessment of irony, responded, “Oh I don’t know – what do you think?”
Plunket defended the platform’s stance on free speech, vowing not to yield to “cancel culture.”
Wright acknowledged a brief discussion with Plunket about the post, focusing on its business implications. “The only thing that I look at is how does this interaction affect the welfare of our business,” Wright said. He believes past controversies haven’t deterred advertisers, citing a history where some subscribers threatened to leave but others joined.
Wright remains committed to the founding principles of The Platform: “The need for free speech, the need for media independence, the restoration of a voice for everyday New Zealanders.”
