Slide 1: Investor Presentation Spring 2025
Investor Presentation Spring 2025
Slide 2: Legal Disclaimer / Forward-Looking Statement
Legal Disclaimer / Forward-Looking Statement Except for statements of historical fact, information contained in this presentation may constitute "forward-looking statements“ within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-lookin
Slide 3: Our Mission
Our Mission To satisfy humanity’s enduring curiosity about our world with premium factual content that informs, enchants and inspires 3
Slide 4: Curiosity at a Glance
Curiosity at a Glance Curiosity is the global entertainment brand for people who want to know more • Over 300,000 hours of audio and video • • Over 20M Paid Subscribers in 175 Countries • • Industry Leading Retention (Trusted Resource in the Home, not Hit Reliant) • • Diverse Revenue Stack - DTC Sub
Slide 5: Our Library Spans the Full Range of Factual Content
Our Library Spans the Full Range of Factual Content Award-Winning Content 5
Slide 6: Leader In Factual Entertainment With Depth Across Genres
Leader In Factual Entertainment With Depth Across Genres Main Categories SCIENCE HISTORY NATURE TECHNOLOGY CRIME LIFESTYLE Physics Prehistory Earth/Oceans Energy Heists Travel Space Ancient Birds Engineering Historical Crime Entrepreneurship Biology Medieval Insects Transportation Investigative & Fo
Slide 7: Our Quality Outpaces the Rest
OUR QUALITY OUTPACES THE REST “I Don’t Know” Source: Park Associates Research on behalf of Curiosity Stream 7
Slide 8: Leading Factual Pure-Play Service with Millions of Subscribers Worldwide
Leading Factual Pure-Play Service with Millions of Subscribers Worldwide 8
Slide 9: Global Appeal of Factual Content Expands Market Opportunity
Global Appeal of Factual Content Expands Market Opportunity Factual Content is Superior for Cost-Effective Localization LTM 12/31/24 - 35% of revenues are outside the United States with subscribers in more than 175 countries 9
Slide 10: Curiosity Browse Collections
Curiosity BROWSE¥ COLLECTIONS MyYsTuFFy |@)NOW Q SEARCH QD seria Y. - FEATURED With Artificial Intelligence evolving so rapidly, will it surpass hu intelligence? Could this lead to our replacement—or, worse, our Top experts provide a clear understanding of the immense benefits >) a® {x Sound off New
Slide 11: Satisfy your passion for learning with America's top professors
Satisfy your passion for learning more with more than 300 of America's top professors & subject matter experts and their engaging lectures about subjects as diverse as religion and history to rock and roll and intelligent life. GENRES: ANCIENT HISTORY | U.S. HISTORY | WORLD HISTORY | SCIENCE | ARTS
Slide 12: Mar 24, 2025 9:00 AM Eastern Daylight Time
Mar 24, 2025 9:00 AM Eastern Daylight Time 12
Slide 13: Curiosity University Now Available on Prime Video
Curiosity University Now Available on Prime Video Add-On Subscription Launches for Viewers Today, Strengthening Curiosity U’s Reach businesswire RKSHIRE HATHAWAY COMPANY September 05, 2024 09:04 AM Eastern Daylight Time “By integrating with Prime Video as an add-on subscription, “By i - h Prime Vide
Slide 14: Over 1,800 Titles
OVER 1,800 TITLES Catholic Stream includes more than 700 hours of courses and retreats led by renowned professors and theologians from the great Catholic universities. Programming covers the bible, European history, saints & mystics, contemplative retreats, literature, and so much more. SUBJECTS: BI
Slide 15: Premium Pay TV and FAST linear channel offerings
Premium Pay TV and free ad-supported streaming television (FAST) linear channel offerings are available globally with major distributors around the world. Featuring factual content across the full genre category, Curiosity’s linear channels provide accessible family-friending viewing experiences. GE
Slide 16: Audio features available across various factual genres
Audio features available across various factual genres on the top distributed platforms • Over 7,000 owned audio titles • 396 Chicken Soup ebooks • 1,100+ Chicken Soup podcasts 16
Slide 17: AI Training Corpus 300,000+ Hrs
AI Training Corpus 300,000+ Hrs Raw Video Footage 73,000 Produced Hours 7000+ Audio Titles Audiobooks, Courses, Podcasts, etc. 17
Slide 18: Positive Free Cash Flow
Positive Free Cash Flow • $25 million improvement in Adjusted Free Cash Flow in 2024 compared to 2023 • Q4 2024 represented nine consecutive quarters of increasing adjusted free cash flow • Guidance for Q1 2025: Revenue of $14.5 - $15.5M, Adjusted Free Cash Flow of $1 - 2M • Dividend of $0.04 per sh
Slide 19: Growth Drivers
Growth Drivers • Increased Subscription Revenue driven by Global Channel Store Rollouts: • Dataset Licensing (Video, Audio, & Text) for AI training and fine tuning • Traditional Content Licensing • Advertising/Sponsorship o AVOD o FAST o YT/Audience First o FTA o Social 19
Slide 20: Numbers at a Glance
Numbers at a Glance Omni-channel distribution strategy reduces friction by meeting users where they are while maximizing content monetization through multiple revenue streams ■ Multifaceted revenue stack ○ Direct subscriptions: recurring annual & monthly subscriptions to Curiosity services. Majority
Slide 21: Debt-Free Balance Sheet Reduces Financial Risk
Debt-Free Balance Sheet Reduces Financial Risk $39.7 million of cash and investments $3.8 million of investments in Nebula and Spiegel TV JV $31.5 million of content assets ** No debt ** $1.00 book value per share 21
Slide 22: Curiosity Financial Results
Curiosity Financial Results (in 000's) LTM 12-31-24 2023 2022 Direct (DTC and Partner Direct) $ 38,592 $ 34,592 $ 34,120 Content Licensing 7,798 14,047 24,691 Bundled Distribution 3,937 6,316 11,726 Enterprise and Other _807 1,934 7,506 Total Revenue $ 51,134 $ 56,889 $ 78,043 Cost of revenues 25,36
Slide 23: Slide 23