CuriosityStream said it finished the year with 15 million subscribers, up 50% from 2019, as full year revenue at the factual streaming service more than doubled to $39.6 million.
Fourth quarter revenue at CuriosityStream was $11.4 million, compared to $6.7 million in the prior year. Net loss was slightly higher at $15.7 million in the period, compared to a loss of $14.6 million in the prior year.
CuriosityStream went public in October after being purchased by special purpose acquisitions company (SPAC) Software Acquisition Corp. in a deal that valued the streaming service at about $331 million. Its stock, traded under the symbol “CURI,” closed at $16.47 each on March 23, down 60 cents each or 3.5%. Shares were up by 11 cents each in after-hours trading to $16.58.
Full year revenue more than doubled from $18 million to $39.6 million, while the net loss for the year improved to $38.6 million, compared to a loss of $42.5 million in 2019. The company said it expects 2021 revenue to rise by about 80% to at least $71 million.
“We had a strong 2020, ending the year with more than double our 2019 revenue with approximately 15 million subscribers,” CEO Clint Stinchcomb said in a press release. “More recently, we raised approximately $100 million in a follow-on offering completed in February of this year. We enter 2021 with a strong balance sheet, one of the largest libraries of factual content in the world and a world-class team of experienced media executives executing strongly against our plans. I couldn’t be prouder of what we accomplished in 2020, and I look forward to 2021.”
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