CuriosityStream now has more digital reach than the legacy business of founder John Hendricks, Discovery Inc.
The niche subscription video service focused on nature documentaries and other "factual" programming reached 20 million subscribers in the second quarter, adding a whopping 4 million customers during the three month period alone.
During its own Q2 earnings report in July, Discovery said it has 18 million direct-to-consumer customers worldwide.
The steep CuriosityStream growth followed a broad-reaching agreement with Germany's Spiegel TV, which was announced last month.
"The majority [of the new subscribers] are from the Spiegel agreement that we entered into," confirmed CuriosityStream CEO Clint Stinchcomb.
Beyond the customer additions, also notable is CuriosityStream's low churn, which Stinchcomb said is in the single digits.
"As of the end of May, we had retained 72% of subscribers who joined our service during the height of the pandemic in April 2020. You have Netflix 71%, Disney 55%, Hulu 52%, HBO Max 41% and Apple TV Plus 17%," he told investors.
CuriosityStream’s Q2 revenue grew 27% to $15.3 million. The company's stock price has increased more than 20% since Tuesday.
Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. His reliable mid-range jump shot, deft ambidextrous post-up game and tough interior defense have been criminally overlooked.
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