Curiosity stream Inc. (NASDAQ: CURI) stock declined by 5.64% at the last close while the CURI stock price gains by 15.53% in the pre-market trading session. CuriosityStream is one of the largest global factual streaming services and media enterprises, founded by media pioneer John Hendricks.
CURI stock, Financial Highlights
Curiosity stream announced its second quarter 2021 financial results. Given below is the summary:
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- CURI has generated the revenue of $15.3 million for the second quarter 2021 which is a rise from $12.0 million in Q2 2020.
- The total paying subscribers are 20 million for the second quarter 2021, an increase of 40% year-over-year.
- The net loss has been totaled as $8.3 million relative to net loss of $4.3 million for the second quarter 2020.
- The Gross margin for the second quarter 2021 was 63% as compared to 61% in Q2 2020.
- And lastly the EBTIDA for the second quarter 2021 was $10.9 million relative to $4.3 million in Q2 2020.
For the full year 2021 the company is expecting its revenue to be minimum $71 million which would be a surge of 80% year-over-year.
CURI stock, Business Updates
- SPIEGEL TV and Autentic have formed a strategic distribution relationship that will help us expand internationally and build a Curiosity-branded channel with millions of subscribers in German-speaking Europe. It also expands Curiosity Stream’s direct-to-consumer offering with hundreds of hours of German-dubbed programs.
- DOUG TO THE RESCUE and FASTER: HUMANITY’S QUEST TO SAVE TIME premiered, as well as new episodes of ANCIENT ENGINEERING and ENGINEERING THE FUTURE, and an eight-part series called SECRETS OF THE SOLAR SYSTEM.
- Subscribers increased while turnover remained in the single digits.
Clint Stinchcomb, President & CEO commented,
This quarter, CuriosityStream produced outstanding results. They’re still on schedule to meet their objectives for 2021. According to ANTENNA statistics, they gained direct customers 56 percent year over year throughout the quarter while maintaining a larger percentage of consumers who joined up in Q2 2020 than any other streaming service. In the factual area, they continue to provide unrivaled value to their customers and partners. SPIEGEL TV, the premier producer and distributor of high-quality factual programming for German-speaking viewers, has just announced a major collaboration with the firm.
This agreement expands their worldwide reach by bringing millions of European customers, speeds up the growth by providing hundreds of hours of German-dubbed programming to their SVOD service, and strengthens the brand by introducing the Curiosity Channel in German-speaking Europe.