CURI - Earnings call transcript Q4 2021

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the CuriosityStream Fourth Quarter and Full Year 2021 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. Denise Garcia of Investor Relations, you may begin your conference.

Denise Garcia

Josh. Thanks, discussion quarter CuriosityStream's XXXX full its results. financial of to and fourth year Welcome today Stinchcomb, are Officer; discussion the Leading Clint Eustace, Chief and CuriosityStream's CuriosityStream's Financial Officer. Jason Executive Chief

to remarks, will I'll prepared the statement. harbor safe questions. management's Following review be happy But take we first, your

risks, During this but not are of related a guarantees future performance, make may are to are subject that variety statements business call, laws. and under statements These we rather to forward-looking the statements assumptions. our uncertainties federal securities of

actual results forward-looking materially or current revise undertakes differ in statements statements that could any company forward-looking from to additional management's in Our any update the future. expectations these statements. views reflect aware the obligation reflected only statements and Please nor be no make forward-looking to

of website and SEC Investor to on refer today's factors a other results our discussed factors SEC the our Relations press affect and as For as risks release. in the important and actual on material the could that risks well other please important website our filings available discussion

Annual Additional our set XX, when also on Form fiscal be ended forth XXXX filed. in for December information year XX-K will the Report

non-GAAP non-GAAP measures website reference made addition, be of comparable measures. investors.curiositystream.com. can at to to will reconciliation A these be In found our measures GAAP financial on

the I'll turn call Now over to Clint.

Clint Stinchcomb

have fourth Thank financials. Eustace; call Tia you, questions. turn Jason up I'll to Content Denise. today we and and and Product us of call Emery. quarter Officer our my XXXX our Devin to everyone like At full the call. for Cudahy; comments, the to Jason's close over Chief open EVP remarks joining And call Jason of to will General delighted the Strategy, with our I'd and our for review CFO, the After earnings I'm thank Counsel, COO

company's record revenue of grew revenue as approximately First their highest strong global our to from with DTC XXX% to our thrilled on revenues streaming International In grew to reach. churn sponsorship. rapidly we industry-leading rate at continue and paid revenue ahead subscriber our that million and wider Revenues base I'm of we off to $XX announce million an combined our an target. XXXX full growth year-over-year I'm other report licensing delivered to stack successfully, often I'm also of with streaming increase another grow put we've subscribers. year-over-year rate. for our business to full industry year-over-year our so quarter $XX.X audience factors. point effort. of our to the every across up been million grow core by of our the of investments and while pleased five extraordinary XX maintaining low also our layer team our year business, first million I'd $XX XX% in exceeded asked To perspective, revenue revenues primary existence, participants years observers, performance three how for able

the the breadth content on nature, and wide we've including lifestyle leading categories. offers of streaming available other society First content of assembled factual No library and history, kid-friendly titles. CuriosityStream, and industry. the foremost, technology, across Compelling titles in service array science, depth factual a our

a execution. innovative grown and of we've result Second, leadership as

an our audience-first we leverage the consequence eliminate as economics traction service first has approach. were to free smart And we example, streaming bundle For significant of trials. introduced gained bundle recently in

us what which stack the know want well its And including with years streaming served unique to entertainment we've brand unique. three people core the underscores has over makes at in XXXX built for is Curiosity multifaceted Third, who revenue a XXXX. us more. past

destination the worldwide. factual than streaming XXX more is premier in available service video-on-demand subscription flagship Our countries

XXXX value and thrilled in than introducing we're previous content more We award-winning to through to be continue year. our originals to additional all bring in subscribers any

Revenue quarter. had the our into broad-based factional deeper bit banner business growing another a year-over-year. productions each lines licensing the quarter our growth fourth Curiosity is of Studios global broadly. in category rapidly the revenue entertainment with and which We more major was quarter testament the dive to appeal in of me Let a

uptake remains metric. last had for in low international best churn. important pace And the week from help ARPU result, on enhance we quarter fast partnership Bundle, our subscriber which to and price channel direct-to-consumer the a streaming year. sponsorship first in services revenues us. incredibly promote the continue to As at industry of And our accelerated grew by net benefited lead complemented which retention offers on single-digit with Smart effort tiers. announced $XX.XX additions Fourth sales, continued to during for an quarter. a will the DTC launch great low the this gross additions of record streaming business streaming a will our brand and In also build the year-over-year strong SVOD six per Curiosity Now, our to story we Subscriber we've advertising continued serve quarter of monetization our

legacy to streaming unique field. While subscribers engaging media to general streaming proposition chase are we factual linear content playing we their To big the not to, entertainment wars, the hit in unique, a next and service all noise services. the streaming focus the complementary experience that to our clear, be the streaming user continue other and believe about With never channels is our TV on on with services subscribers competitive market leave. we different makes retain and want delivering the

a planning year's time the deal the of we this During process, great industry. state current of spent reviewing streaming

rest uniqueness proposition, industry. has our increased this significantly diverged underlines the pricing our value of confidence our from of While the the also it how further in review

we subscription nearing right $XX of the to which per would platforms. to Simply more better price tier, tremendous the increase year, popular time their still content to plan put, enables us align were our quality six even of we most we offer bring it represent such even to subscribers, our to on value. As the value pricing plans, our annual promotion if with enhanced believe are including service-premium our

to While exact in overtime. result we or magnitude finalize to have substantial forma expect flow to increase subscription EBITDA we a of cash yet any revenue, them pricing the and timing pro changes,

to of license continue titles we grow and number under ownership our on Turning content, the to platform.

were general as this streaming by visually do a commission globally As originals, appealing multibillion service, announced and series delivering to dollar acquire XXXX of slate month. the factual and the able we we able love high-quality of compelling We're stunning, the without subscribers services. content productions our evidenced spending to entertainment while streaming emotionally last

asteroids, exotic great wildlife everything largest includes that more. the escapes shape history, and in accidental Our rescue crime, history XXXX inventions, brand-defining compelling world from titles, true in the and to biomimicry, slate new, showcasing our original much stories is tycoons and about

in series we takes high-octane showcased on off history some in new evolution the problems. how EVOLVE to January, filmmaking hold world Our to genius key viewers big of year In and natural could an the a biologist the global and Aryee the talent, emerging Aryee. originals six-part when biggest electric the biomimicry, reveal adventurer of kicked of adventure Patrick in our

defected all as successful ARTIST, including exploration, mission. story only rescues WALL THE of actor unprecedented Oyelowo, for natural narrated original animal next-gen explores new in as disasters, series THE after American to tracking RESCUE, but which technology, the trust. excited throwing six-part revolutionize premiers explores and which THE artists We dive the con Friday Night releases effort behind Doug Dean in know season, the iconic of shaped Lights. by series also features premiered Finance wondering, for returning which and Xth original docs an attempt and to the DOUG events. of MIND he power global Soviet fan our entire Reed, to A acclaimed to rivalries award-winning premiering began six RED ways deep pop TO fourth for who opulence CONGO also Forever, OF returns told death the seasons David behind including his that to most THE Most eight-part the viewers by COLD and ENGINEERING you use heartland the the NASA’s that We're GOODALL, eight-part could series a high-school most which into Curiosity of superstardom INSIDE which cutting-edge Other drone Bloc recently, TITANS: time, production Berlin. drone serves the rose who CHIMPANZEES COWBOY STREET, the bringing Artemis it. The of in takes OF missions CON And from WITH attempts RESCUE the his growth psychoanalyze THE icon we can James birthplace that chimpanzee in history. football, pilot year you several JANE conservation RISE on fueled leaving docu-series ambitious the as literally its and really biggest the space East we Universe, travels Africa THE And the universe, FUTURE, ELVIS: mysterious not life industries, the brand-new, back before Telescope to the groundbreaking technologies feature American WAR to to And scenes of Of this the the Webb landmark ultimate individuals Megarocket. the as and Secrets certainly included groundbreaking of second of U.S. a the the guide as course for forgotten the of Thron, favorites he probes also be that OF

subscribers. the Gates, provide like choice center leader. capable the the series top services tales years as a rapid an on names to know compete economy. and our as with to Due this announced relationships and its year investment of the space. more. by to better the build The creator Solar and who, built premiering original for plan platform XX in the into is a curiosity of row. ways, first any whose high-profile and of to we global discovery, we last highly minority Nebula with the a target marketing Further, continues of shareholders we history, in to to recently collectively subscribers. incredibly currently landmark making add XXX go-to unseen hole industry. content life clip couldn’t with creator-owned streaming strong excited our mission are original parasocial subscribers, in imagery the have which on complementary the more number we stunning and edutainment been the platform a year power the investment on streaming System, Nebula the gears, disruptive for Emmy-nominated our and million exciting included our stage, the at a this engine has an thousand in believe would for capitalize second subscribers, uniquely subscribers that to powerful I offer Shifting of Curiosity’s and the our well-timed best significant of nature to entrepreneurs, more richest and unique we to like TikTok in Nebula, and, Following black the Bezos, slate yield satisfy biggest loyal shared of revenue company, and XXX over we illustrated the race partnership world’s pricing of to last Mars. of advances in nature the elected Tycoons opportunity creators creator to update in searching reinforcing unpacks YouTube and Facebook Secrets the reflect value for than our largest from announced by on like ambitious equity to year. the to what a been streaming full much bring platform, tells Since the delivered content position we yes, agreement, prized this of into be our to stories Nebula In the exceeded And paying archives, just ahead, series streaming year who our have creators summary, quarter broke those And world’s our hit, powered The we some economy Nebula giants evolve services, values were to segment. reach in we image as agreement our with technology the space the retention creator We want year, time, growth on be the the for tech relationship creators Kardashian, the

wheel, to want for XXXX today more original have content and on the and objective now revenues their premium thank this shoulder member video the becomes of with plan beyond visibility acquisitions, to look keeping largely second presentation library their and through forward increasing work XX into streaming believe a focus doubled Jason selections, cash the size chest we critical-mass the for provide heavy of as some our to and focus talented over each the they our past represents creativity, CFO, for personally incredibly includes title in XXXX We the the for of months, this half that content tuck-in service. XXXX our to guidance. our robust of achievement bring over lifting dedication, Eustace, now every on financial for updates each content Over the us, We day. With and our their every flow turn over and behind XX,XXX team library expenditures like future. positive clearer. our in highlights content to I’d choices M&A. I our creation to we well war than for to

Jason Eustace

puts company. $XX million. with and the a revenue public fourth $XX.X year-over-year revenue million during year in million entering over before target markets, excited to exceeded quarter, $XX established I’m we content fourth of to XXX major year the licensing Each lines during increasing Clint. of Thanks, growth, us more grew -- quarter. our the the five-fold strong the Full than business which with close elite year-over-year to XXX% revenue rare also rapidly announce

during expect during more of We to remarks. the I which quarter detail content the my portion record moderate revenue level, guidance this describe will from fourth in quarter licensing first

finally driven include the quarter revenue increased quarter an presales $XX.X ARPU, Now, CuriosityStream’s Redbox partnership. Partner growth financials. our $XX.X fourth grew to by partnership. our was direct and on in and review DTC Spiegel Corporate the Bundled million, modestly advertising Direct, in our revenue driven platform, was driven grew rapidly $XX.X sponsorship me. quarter and our of up of excuse let’s due growth, licensing DTC $XX.X was largely higher Distribution growth revenues, advertising revenue with were and Associations, primarily marketing XXXX. expenses which to year-over-year and growth DTC, by higher Corporate and million -- quarter XXX% Associations in Content strong by affiliate subscriber our on compared year-over-year, Growth XXXX. fourth fourth licensing from Advertising fourth program with million revenues related to million and revenue

As fourth expenses discussed we to we quarter of quarter, marketing $X XXXX. the approximately million of advertising quarter last the from reallocated and third

of drive $XX.X fourth revenue invest subscriber was of in million to direct-to-consumer of marketing or to quarter We during the and continue revenue advertising XX% compared XX% the quarter to Cost fourth growth. revenue in XXXX. of

favorable the management. a year-over-year loss guidance. estimates include following million any were well pricing marketing as a expenses to advertising and margin disciplined margins expectations, potential clear, mix. of last to gross gross now lower to due on G&A million expenses as not of lower quarter be basis due compared half While expense an flat investments roughly year, on exceeded quarter EBITDA our higher EBITDA was with XXXX first the adjustments. To compared Fourth I fourth million XXXX. basis year-over-year operating provide will due $XX.X loss do $XX.X $XX.X in $XX.X Total revenue million with to

streaming as Clint we remain XXXX were business As and new visibility the the adapted for do forward for and give performance periods these looking for so services. market on expected in noted, when have XXXX. we wanted And revenue overall into initiatives will as future expense to solid as levels guidance only to expectations and strategies to good guidance are our we and for we

million at half, million the revenue between midpoint. the up expect and first $XX year-over-year range XX% For $XX we will

a million million. loss range between We loss $XX of expect of will our $XX and a EBITDA loss

the revenue quarter of has a the quarter historically As been our fourth year. strongest reminder,

with $X We to This expected first to our decline revenue, growth revenue. XXXX by $X million of lower the offset due to fourth decline of relative XXXX quarter quarter approximately sequential expect decline business. to million in be partially to the is continued direct-to-consumer licensing presale

the to second levels below between modestly expected part quarter, first the historic amortization. cost margin content of revenue significantly first Gross to higher due during remain the XXXX. to increase expect and We is quarters in

$X to open And back line relative for to to turn roughly expenses to the marketing questions. I'll first fourth the quarter over million it decline due to expenses. expect quarter now lower We operating Clint,

Clint Stinchcomb

open Please line. the

Operator

Instructions] of [Operator Bank comes question with Peter Henderson America. from Your first

open. is line Your

Peter Henderson

Hi, my plan I that timing on you for you before guys. price implement I'm and this pricing the just sense Thank on of I that implementing need the steps curious, of question. trying now, sort the and just you to increase? for just mean, do discuss a that. taking sort of increase later Can you what not guess reasons plans sort year. to take of get better to

Clint Stinchcomb

there's lot want our want in sure light we mean consideration and obviously, to we of I consider. time, sure same appropriately make we that churn of pricing that low A/B rates. a a objectives have to that have the lot we around initiatives think We make So take that we other we time. At power into test. to

a you have that really today, that So and about as working competitive imagine to want approach it to on we're say and hard to other I time the strategy some the we for reasons better feel value keep nearing we and align something indication lot where vest, to we because don't but did we're reasons, like Peter price. to we it's can a need want close that the with give

Peter Henderson

Great. Thank you.

Operator

from with of Your the Davidson. D.A. Forte next Tom comes question line

is line Your open.

Tom Forte

Great. Thanks my question. for taking

go time. one question longer-term questions one. two a and have shorter one I I'll at So term

different all the vision years one if of two ago? the or than was So how first longer-term CuriosityStream it is, question is today at

Clint Stinchcomb

to grow our are core DTC to month. Tom and to our continue continue service. I and Well, that every consistently streaming We want subscribers today build grows revenue. Sure. would say to vision priorities grow

nearing we be just UI through on bit complement improvements now thing We It's bundled of little the enhanced among UX time are base, increasing growth. this service. as to And small engagement One is continued and and but world off is still we'll the engagement efforts we We a to here. are our channel admittedly can grow a relatively different potentially opens believe have is obviously sponsorship that hopefully kind launched fast year we we other up. initiatives. that our reprice subscribers a focused meaningful

the built a the So in have. if profitability. I I I objectives and think mentioned you I is, the that similar. on go we're focused build we -- we one At call, we've are taking it And with back didn't as think library. are years would scale massive our two we being think this to time where as scope as early same that's mean, priorities thing this we and changed, it market

titles So in year. feel cash We going to about focus and light hand. hundreds positive the service heavy our like our achievement have feel bring a of and largely really of good mass. the new robust that, on behind increasing hundreds now critical lifting we're we of content us, we flow. library this to We're But with this expenditures

Tom Forte

All Excellent. right.

question. longer-term second So

is international two the it and landscape SVOD one the how is US how So, or different was today ago? years than

Clint Stinchcomb

is foreseeable is category, window the to But of SVOD the would future. with early relates Televisa it for SVOD of VIX Yes. exception full content consumption kind probably the in of the as still the I new any Univision close Plus the say, services for the US, innings.

now mature market streaming US to offer it's two media sense that relatively consumption to the grow wasn't of companies early and services, share. that the regard years consumer in true. it's So But ago scale opportunity still the in in the

of as services schemes. I lots we'll some entertainment at of that among the eight Now dynamic largest result offer that sports, of other in of yet. Prime, start categories packaging mean because a issues. the that also of of will it's with large that sticky million and a large It's to aggressively independents streaming fractured of they'll biggest quite least with and than turn neighborhood the services. component into be within Netflix, I US But of create to the is there'll rights players broader underneath subscribers the will in players. where players I Brothers, movie Paramount, content. Amazon, absorption focused the obviously, likely but certainly be factual move one which I bundles of a in Warner, for video hundreds and offering. few that video HBO be subscription think consolidation And future, think seen emergence on then we've Internationally Warner there'll internationally you key to look this something specialized subscale as Disney, see mature think, then hundreds services some not Discovery, genres been just with XX pricing handful Max the the consumer them general and and out difficult of ultra Apple,

Tom Forte

All right.

you're So to to sports Clint in my take and advance for apologies Jason, my reference. going have

of the term was pin shorter was to my have closest I question thinking So think and to way it. about I the

on you from what's my visibility a visibility. percentage annual subs, so -- you do rather And on So, you large impression outlook historically of an had XX-month? longer-term than that inspiring a -- you historically different that and gave it's is a that what a to basis any standpoint, subscribe or feel your six-month give

that you appreciate comments it. your maybe So include if I'd in can

Clint Stinchcomb

to then and first it take I'll I'll Jason. hand over it Yes.

XXXX first guidance XXXX. is want But as with do to Jason for to what mentioned, the and what say we guidance Jason our targets hit We growth, XX% like as in we were half we're So, year-over-year XXXX. to did guided solid up we and on XXXX remain in do we're going our philosophy and to. future

guidance do visibility. to only periods for have giving And very so, we're where we clear so,

on can multimillion-dollar magnitude of be third-party considerable to of agreements, timing timing negotiations content third-party HX, We're factors range can as upside. potential to said, hinge price XXXX of drive in in timing bundled several HX with and licensing that agreements conversations precision. agreements, the growth number including third-party of the of increase. As and we've challenging a of shared the in great pacing predicting That past do third-party compared

wide possible in a as we of that working just guide So -- Nothing simply outcomes as with we It's partners want range on Tom. past. really thoughtfully there's nothing the execution. to we're third-party there's haven't done

have proper or We -- sure make premium partnership. distribution it, value licensing, help bulk brand We of I That said Jason. lot factual want for that a we partners. full a get whether to through unique just a content can different and lot, that's

Jason Eustace

I'm happy with that.

Operator

Your next question line of comes Capital with Darren Partners. the Aftahi from ROTH

Your line is open.

Darren Aftahi

guys. Thanks my questions. Hey, for taking

I if two Just may.

First, speak in content to spend I'm direct is just the can you by then, channels? what going curious kind up And went be versus mix looks it minus. to XXXX? about your plus like the or number sub million of Thanks. of three other

Clint Stinchcomb

Yeah.

really So our we XX content spend last go to I the as and the of what XX is content even pulled forward our spending gas far to as we've into months. some we And XXXX the would on on concerned is, for spending back XXXX. -- foot even content put over planned

over premium about today. that have XX,XXX over feel a selections. are do we we X,XXX for library the we good really choices so mass our critical it's Again, video well service. streaming And title -- think We

to cash a heavy think and an focus the that that of certainly our lifting us content with the behind And this take our flow. increase we're to have we spend, positive of I so optionality opportunity around lot with achievement on going

Jason Eustace

the over But were the the deliver. question, subs that quarter added I majority in growth again, of our to a continuing your And from to on we of bundled continue distribution see mean on that were fourth quarter-over-quarter international. the DTC. business side largely and subs part continued

Darren Aftahi

price to on of that could annual Great. plan, know bottom much be, If that the a I price flow increases one to would if about what dollar line talking increase there how in. was I might squeeze an just you're but curious assume through I'm more know not you hypothetically?

Jason Eustace

ARPU that -- say little. driver through little more would revenue, of pick kind part only would you Darren. almost the our bottom of on would that a line, to flow flow piece that for a mean through very stack. so the I the segment. increase give but which better majority you more it of our There's it know strongest And of up of bit is a makes a majority that's little cost revenue, you profitability I revenue your up that of as within bit

Darren Aftahi

helpful. That’s Thank you.

Jason Eustace

Yeah.

Operator

comes line question of Kurnos Benchmark next the Dan from Your with Company.

open. is line Your

Dan Kurnos

and Great. bit Thanks. here. a for little Jason Clint

feature the that DTC? either economics, as Just taking you've Smart lot et first itself, versus on talk added the the just bundle. partnership to And it someone traditional someone a that guys of taking obviously terms you just in growing Can relates to bundle that to about you Does ultimately more is chain value chain a of a cetera. obviously the high library there think terms to grow pretty $XX.XX up at point, take already I food it in it that from could already of almost kind its or price of but own? of on

Clint Stinchcomb

who I'm over really about talk to our turn -- Chief and to Head answer him Strategy Dan. bundle, six-service going architected it better of question, Great me, this Product Emery, And question. since your I Content Devin Officer have to beside to

Devin Emery

of available bundle way the that service is tier is The works through smart that it the on premium Curiosity.

of for you're premium signing plan for you're up up CuriosityStream. bundle, a if smart So a signing

you're all as you're then $XX.XX cost a year getting the of that services. So access to and saying partner

tiered have We a relationship.

amount those based are after fees partners subscribers paying significantly of on are higher tier even So plan. But usage. we that a standard on regardless the than those the making is premium we

Dan Kurnos

for itself That's anything of you hours, as the Awesome. mentioned, just base churn services. terms of to, spent programming KPIs means of us been Is cetera the that guys of plenty just about you're can the there and which service besides talk the further of VOD whether regards kind what anything some to in of on helpful. we it. guys it time And kind et reopening obviously, would engagement – help can understand you with kind talk you there's service Got just the that spent with of news stickiness because or plan kind bundled around offering? low video around time it's

Clint Stinchcomb

more would mean Dan hit and Well, we're we know people part I increasing. is more fact in more great and populating mean content to that and here -- due broadly content. consumption is not with I reliant. good service the and what large thing is, been say have CuriosityStream that's the about I the

stay so want don't and the and to of content because early subscribe and And people typically because experience. leave of real the

improvements that there's, But around even Now we're of providing will of terms relates the platform now there engagement a metrics, those. it we as we to right think more. that not can make enhance in specific number

Dan Kurnos

Day we of or are guidance half And did enough. does not first assume there kind half housekeeping, your Fair your either? first any U, yet for -- stuff One guidance in-person

Clint Stinchcomb

doesn't. Yes, One It a now about it's U, doesn't. from I say greatest professors, and features which that it service. America's talks would lectures XXX terrific and Day

As says, everyone that remembers we all. one have and Devin them professor

of near-term there a happening as so but relates that's in-person it good are on not virtual to side in events horizon. things the there And the lot

Dan Kurnos

Got it. Thanks. Appreciate the color.

Clint Stinchcomb

you. Thank

Operator

Your next Company. question & Needham comes from Laura Martin with

open. is line Your

Laura Martin

couple. Hi, there. A

since FAST So could has first remind us helps we're XXXX, Pluto the FAST how the guys been you is And you time? strategically. channel now it for now? Why launching since channels around why

Clint Stinchcomb

in it's direct going to for for was subscribe we we it We also service. them it to and of to of opportunity are brand with idea our We're to with and CuriosityStream will or can want know there's, on to as to a full And that continue heavily into. lift to clear, viewers the partners brand core the ask it's not. to good And opportunities saw some remains a to it some consumed we not great a not a service. channels monetization those and we look -- would And to we them, it's hard what I Laura. think to people see and a we going extend We content our reach number taste partners certain year were taste But us. be doing not -- of forward, enough have, give we and new service. focused we've hundreds get not partnerships question, difficult you say building had FAST pace. our last business our direct us that FAST but getting mean, there. are -- a I that. real today that satiate it's Yes. the been our our promote focus mean, do increased and of I

Laura Martin

do FAST you going XXX% subscription. just historically is staying you have through ad the you guys or going you going programmatically to to to revenue? ad are FAST, to How do advertising on driven. all pro Are salesmen hire Are and historically somebody? or And to going are guys A generate Magnite that been the it you

Clint Stinchcomb

great a it's Yes, question.

an in have of And it, we the that's lot but He -- we right of who now. been was for a been talked presence he staff Paywall. we've mean, building on as earlier Devin I architect what So that referenced example. about have Cheddar, have I we front somebody a the did. not

it level in we something FAST. building and time deliver is that that the everything else it at will with it at we're direct are but for priority not we us doing is believe So our concert of meaningful service over that revenue gradually

Laura Martin

on Russia-Ukraine impact any you hostility? weeks have four Great. seen the In guys business the Okay. for EV your past

Clint Stinchcomb

No.

Laura Martin

And on why Okay. question half following first finally up just guidance. the then about

the Your visibility you you deliver could was you what to answer and have make because promised. to sure you wanted question

You're a end. week before QX

only me it us logic in your to seemed which QX business. week a left have a So guidance would give just subscription safer that if to has was

a did guidance? than would I'm be which -- again first I you So to higher guess first that's quarter give half go. us on you has why It alone the little a to only just visibility like because can't I week expand

Jason Eustace

Jason. it's Laura,

that still Yes with But a the first were into week we the just at philosophy good we're get is that first quarter. we to have consistent out. So because half. at point that going the it's like visibility do

still why good same range on we that's And pretty on the and million. the and million to $XX feel $XX revenue to is have we're number hit visibility bottom. that the that the We confident going

And the So I last years. we we delivering is theme results confidence to that and if go outside we to of best numbers going really it's that the we the that. kind in of we're from away that kind want those to fall have stay the of hit think have true then couple that we of

Laura Martin

Okay. Great. you. guys. so much, Thanks Thank

Jason Eustace

you. Thank

Operator

with comes Research. Your Goss Barrington Jim next question from

Your line is open

Jim Goss

Thanks. Okay.

attract of retain I'm sort content and heavy on spending your content work done how would series to in what's lot new about of creation. that need feel just or -- much viewers content your a that spend? charter terms lifting you customer else of you wondering that talked in do versus example of mix series does terms in You out in how annual versus And for sustainable acquisition? more whatever efforts be

Clint Stinchcomb

Yes.

have to point Jim didn't this that have point would this back feel like in we library we think at time. I think that yes, – come we we the just

see titles anybody of so going never probably the before. new seen thousands to today And to service they've that is coming

titles after offer week weeks more that's the content I the this we can year have that. just then titles of this and hundreds I six and and every mean that new year to even five hundreds With premier year. than planning we'll hit we're that we not some mean this even -- to air

we So have. about feel good what we

an that build the composition series the and to we it for about forward At also that Devin we look first season. are was he area as and people the far better to got creates next CuriosityStream an lot here time, to the sustainable have economics As on. same identified -- want opportunity because coming docs feature think of were when think for we there that back that's underrepresented I a

Russia, we've amount well performing the in been dedicated to So We referenced got that I comments. healthy my the continually I think had Elvis refining including mix. very of doc a We're feature mix. Red That's programming good lately. a

But very of to our we've of be our the forward. have, house. create content the and a lot in going really we So spending quickly in-house content or measured like we'll what got and finger out on have we we ability pulse,

Jim Goss

Okay.

of lot from probably sort once lot of a the your get And a it's nature go is it related given views going of a or done intellectual to does back. to users, of on basis tend it not content second your

Clint Stinchcomb

and not it others a the opportunity that Not depth does of long travels it, only world. mean, life. use it of of reliant, to I a in gives evergreen I the content it's It not reposition shelf has really great point. that's around the Rome value think think change. doesn't long, so we're I and might the ways history breadth the Factual kind And that be life, also to. have a well shelf us able hit long

Jason Eustace

amortization And at the assets other thing I'd you add of viewership there actually our Jim that. when is of some that trigger those of the look that

That is it's reason flat life long. And kind accelerated, bit of very little useful but essentially an a more so of a line. the that

a useful So in which on slightly a most do it's that see is reflected But life. we we end. work the financials, the the part have very consistent front why accelerated for

Jim Goss

effort with as One VMP, last you customer one lines you trying the manufacturers relationship, relationships, these connected of the could go and your create to FAST along talk about of other you the can MVPDs distributor the how Okay. more TV own about cost talk of And through options? dealings tie-ups.

Clint Stinchcomb

of cost the the the sorry, was I'm part? -- what last

Jim Goss

the of of securing the you're sort those relationships cost viewers? Yes, of rest

Clint Stinchcomb

TV we Apple of agreements the we connected that. something we them. all Google agreements Play them to have or And with similar what Well, providers, an have with TV virtually like with those have Sure. that Yes. are with

the that relationships. there. thing you better its distributor is app distributed which part running economics through a about relationships provide, we is those who the So continue is advertising they In We'll get network. obviously experience their the opportunities all those are for connected our consuming But nice than system. another grow of excellent regard like it's TV and on And with glory, everything to might more Curiosity is sponsorship the to kind much us of somebody of elegant those. in

that a because can exchange, we with more MVPDs the like MVPDs. value a some working of get deals few providers. traditional bit a the we them, than as typically extent fair they far As are are with have little concerned, we To innovative the

Operator

There you conclude conference for joining. are no This today's questions. further does call. Thank

disconnect. You now may

Clint Stinchcomb

Thank you.

CuriosityStream (CURI) 25 Mar 222021 Q4 Earnings call transcript