Approximately 20 million subscribers for CuriosityStreamTuesday, November 9th, 2021
CuriosityStream Announces Third Quarter 2021 Financial Results
- Increased 2021 revenue visibility to 100% with $71 million committed
- Third quarter 2021 revenue of $18.7 million, up 114% year-over-year
- Grew direct subscribers 50% year-over-year
- Announced enhanced strategic partnership with and investment into Nebula, the world’s largest creator-owned streaming and technology platform
SILVER SPRING, Md. — CuriosityStream Inc. (NASDAQ: CURI), a global factual entertainment company, today announced its financial results for the third quarter ended September 30, 2021.
“The triple-digit revenue growth we generated during the third quarter is a testament to the success of our unique, multifaceted content monetization strategy and the broad appeal of our award-winning factual content. With business momentum continuing into the fourth quarter, we are thrilled to announce that 100% of our fiscal year 2021 revenue target of $71 million is now committed,” said Clint Stinchcomb, President & CEO. “As we accelerate the pace of new content additions to our platform this quarter to the highest level in our company’s history, we are laying the groundwork for attractive long-term growth as we fulfill our mission to satisfy humanity’s enduring curiosity about our world with premium factual content that informs, enchants and inspires.”
Third Quarter 2021 Financial Results
- Revenue of $18.7 million, up from $8.7 million in the third quarter of 2020;
- Total paying subscribers approximately 20 million, up 43% year-over-year;
- Gross margin of 49% compared to 61% in the third quarter of 2020;
- Net income of $0.8 million compared to net loss of $(6.7) million in the third quarter of 2020; and
- EBITDA of $(7.9) million compared to EBITDA of $(6.7) million in the third quarter of 2020.
Third Quarter 2021 Business Highlights
- Entered into an enhanced strategic partnership with and investment into Nebula, the world’s largest creator-owned streaming and technology platform with 350,000 paying subscribers and 140+ active creators who have over 120 million combined YouTube subscribers;
- Premiered RESCUED CHIMPANZEES OF THE CONGO WITH JANE GOODALL, SECRETS OF CIVILIZATION,and BECOMING MARTIAN, a new season of BUTTERFLY EFFECT, new episodes of FASTER and BREAKTHROUGH,and our acclaimed feature-doc HEVAL; and
- Announced a multi-year distribution partnership with fuboTV, the leading sports-first live TV streaming platform.
For the full year 2021, CuriosityStream continues to expect the following:
- Revenue of at least $71 million, representing 80% year-over-year growth