CuriosityStream Inc. reports developments tied to its global factual entertainment media business. The company operates the Curiosity Stream subscription video service, Curiosity Channel, Curiosity University, free ad-supported channels, Curiosity Audio Network and Curiosity Studios, with programming across science, nature, history, technology, society and lifestyle.
Recurring news for CURI includes quarterly and annual financial results, outlook updates, investor conference participation, dividend declarations, share repurchase activity, distribution partnerships and launches for Curiosity Stream. Company updates also cover content licensing, AI video model training and data licensing, sales and business development leadership, and the use of its factual programming library across subscription, linear, advertising-supported and partner-distribution channels.
CuriosityStream Inc. (NASDAQ: CURI) reported strong financial results for Q3 2020, with revenue reaching $8.7 million, a 83% increase year-over-year. The company saw its subscriber base more than double to approximately 13 million, driven by growth in annual and international subscriptions. Gross margin improved to 61%. Although the operating loss narrowed to $(6.8) million, the company expects Q4 2020 revenue of at least $11.3 million, indicating 69% year-over-year growth.
For 2020, CuriosityStream forecasts a revenue of at least $39.5 million, reflecting 119% growth.
CuriosityStream (NASDAQ: CURI) announced the release of its third-quarter 2020 financial results on November 12, 2020, after market close. A Q&A conference call will take place the same day at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Investors can access a live audio webcast via the CuriosityStream Investor Relations website. An audio replay will be available for two weeks post-call. CuriosityStream is a leader in factual entertainment, offering a range of documentary series available globally across multiple platforms.
CuriosityStream and Software Acquisition Group have successfully closed their merger, which was approved by Software Acquisition Group stockholders on October 12, 2020. Starting October 15, 2020, CuriosityStream's common stock will trade on NASDAQ under the ticker 'CURI'. With this merger, CuriosityStream aims to accelerate growth in the factual media streaming sector, boasting approximately 13 million paying subscribers in over 175 countries. The company plans to increase its library to over 11,000 titles and continues to offer its direct-to-consumer subscription service at competitive rates.