Business
CuriosityStream Announces Second Quarter 2021 Financial Results
Second quarter 2021 revenue of $15.3 million, up 27% year-over-year and 55% compared to Q1 2021 Paying subscribers across all platforms and distributors grew
About this update from Curiositystream Inc.
[{"type":"text","content":"\n\nSecond quarter 2021 revenue of $15.3 million, up 27% year-over-year and 55% compared to Q1 2021\n\n\nPaying subscribers across all platforms and distributors grew to approximately 20 million at the end of the second quarter 2021\n\n\nPartnership with SPIEGEL TV accelerates international expansion, establishes Curiosity Channel in German-speaking Europe\n\n\n SILVER SPRING, Md.--(BUSINESS WIRE)--\nCuriosityStream Inc. (NASDAQ: CURI), a global factual entertainment company, today announced its financial results for the second quarter ended June 30, 2021.\n\n“CuriosityStream delivered very strong results this quarter. We continue to be solidly on track with our plans for 2021,” said Clint Stinchcomb, President & CEO. “During the quarter, we grew direct subscribers 56% year-over-year while retaining a higher percentage of users who signed up in Q2 2020 than any other streaming service, based on data from ANTENNA. We continue to deliver unprecedented value to our subscribers and partners in the factual category, having recently announced a landmark partnership with SPIEGEL TV, the leading producer and distributor of high-quality factual content for German-speaking audiences. This partnership bolsters our global reach by adding millions of subscribers in Europe, accelerates our growth through the addition of hundreds of hours of German-dubbed programming to our SVOD service, and extends our brand through the introduction of the Curiosity Channel in German-speaking Europe.”\n\nSecond Quarter 2021 Financial Results\n\n\nRevenue of $15.3 million, up from $12.0 million in the second quarter of 2020;\n\n\nTotal paying subscribers approximately 20 million, up 40% year-over-year;\n\n\nGross margin of 63% compared to 61% in the second quarter of 2020;\n\n\nNet loss of $(8.3) million compared to net loss of $(4.3) million in the second quarter of 2020;\n\n\nEBITDA of $(10.9) million compared to EBITDA of $(4.3) million in the second quarter of 2020.\n\n\nSecond Quarter 2021 Business Highlights\n\n\nEntered into a strategic distribution partnership with SPIEGEL TV and Autentic which accelerates our international expansion, establishes a Curiosity-branded channel with millions of subscribers in German-speaking Europe, adds hundreds of hours of German-dubbed programming to CuriosityStream’s direct-to-consumer service;\n\n\nPremiered DOUG TO T...