CuriosityStream Inc. saw its Nasdaq price crater to an all-time low Monday, despite a 140% Q4 revenue increase to $27.3 million, as well as the addition of 3 million subscribers to a base that has reached 23 million.
The company said it will soon raise prices, but didn't say when or by how much.
"We think we have a lot of pricing power in light of our low churn rates," CuriosityStream CEO Clint Stinchcomb told equity analysts during the company's Q4 call last week.
CuriosityStream offers an HD-only version of its documentary, science and nature-focused SVOD service for $2.99 a month, or $19.99 for a full year. A 4K iteration is priced at $9.99 a month and $69.99 for a full year. That version bundles in Tastemade+, SommTV, Topic, One Day University and Nebula.
“We believe we are nearing the right time to better align the value we bring to our subscribers with the price of our subscription plan,’ Stinchcomb added. “Even if our most popular annual plan pricing were to increase to $30 per year, it would still represent tremendous value.”
In addition to maximizing profits for its core SVOD offering, CuriosityStream has made inroads into ad-supported streaming of late. Last week, it announced the launch of its first FAST channel, positioning it on LG smart TVs.
"With the content that we have, it's not a difficult business to get into," Stinchcomb said. "There's are hundreds of FAST channels today and some are heavily consumed and some are not. But it was not a hard lift for us."
CuriosityStream said its title selection has now surpassed 10,000.
