CURI - Earnings call transcript Q2 2022

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Operator

Good day to everyone. My name is Devin, and I will be your conference operator today. At this time, I would like to welcome everyone to the CuriosityStream Q2 2022 Earnings Call. [Operator Instructions]. Ms. Relations, begin of conference. Investor Garcia, you your may Denise

Denise Garcia

Chief its CuriosityStream's XXXX today Thanks, Peter CuriosityStream's to Financial of CuriosityStream's are Officer; second Chief Westley, Stinchcomb, discussion Devin. Welcome the discussion quarter Officer. and Leading financial Clint Executive results.

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

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

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

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

our also when ended quarterly will forth the on be information for set June Form XX-Q Additional filed. report XXXX, in quarter XX,

turn comparable I'll addition, measures investors.curiositystream.com. can to be reconciliation on call non-GAAP to website made non-GAAP Clint. reference at measures GAAP will of be In financial over measures. these A our to found the

Clint Stinchcomb

difference, empower General Cudahy; Chief to course, Emery Westley. us us is second cap earnings our billion. Devin Peter managing I've joining quarter CFO, already $XXX period are value to players can start Denise. that Tia way our organization and particularly and for May today future but I'd we Blum business size. our its role, our Peter like and in only COO new call. from charting Thank to help which Capital well from everyone thank the shareholder they elevate more in Avid Officer; of joining for and you, joined Strategy working our better. their media and Also Counsel, tend company As and companies. solutions Peter Not As, lead market companies helped creation of in million Recently, the a teams, as tend services, managing stronger to of Partners, their and of they the impact where years the Chairman increased where with a years to XX experience spent through do hire our performance seen XX and insights brings mores financial the make Technologies, strategy media real partner. of and overall in positively with their direction. true makes him the the a partner creators, Peter's peers as whose Peter last A perform he than $X.X technology

balance in and year-over-year reduced $XX both on the of quarter sequential strongly basis. our XX% of ended operating QX, range. with from and sheet. revenue grew to cash half globally We with exceeded a EBITDA first revenue stack, a high financial QX, better-than-expected at the organization second during Due clear in our performance to focused progress we and guidance across As board made we end half the first quarter. the multifaceted cash used our QX a on guidance delivered revenue investments activities We while by million

assets. added We new to hundreds paying quarter the We up million XX% continue and QX, XX of critical XX,XXX mass $XX with million last ended with quarter year-over-year. grow revenue library and titles the up approximately from in video our to of subscribers, business over audio

Bundle the Under Devin focused upgrades daily XXX% of in during and best-in-class Streaming number since streaming promotional performance on SVOD our our service, in the as quarter content a objectives the advanced our a gained average with new Smartest further also global path. QX traction rollout maximizing in We premium outreach. of increase our we of strategic Emery's package our leadership, upgrade

a a a individually. to each incredible compared subscribers CuriosityStream. services This savings $XX.XX Bundle represents both year, As get subscribing and compelling to subscribers financial for XX% for X reminder, streaming an a proposition value for our service Smart

With which announced seventh Bundle collection Bundle, da before. the to learning options ever later for interactive additional XX,XXX family-friendly than will user will entertainment this and of service programming Da join the Curiosity's an summer. Smart that from Kids, value Vinci smart across our Bundle, We streaming the service. per and Vinci XX,XXX educational bundled greater the as Smart Kids. Smart offers that revenue kids our average viewing now is multiples platform The standard expanded services kids plus With and than the families episodes, have all more recently extensive

and of expect strong on We bundle execute continued team his uptake Smart as monetization our strategy. Devin content our

flexible subscription through formats. release original in engagement array leadership, fast partners. strongest In of a through As the can Under distribution through the groundbreaking control we in part additional channel of last on rights we paywall we channel across genres AVOD, consumers across to quarter-to-date focused QX, Rob we our partnerships, increasingly to advertising brand needs of wide multi-platform social hours front we we launches, be audio and resistant light discussed and swiftly of due quarter, our integrated had to our Burk's building fast of content In responsive of factual thousands the strategy. our audience content, continued directly channels. and are our

During Oyelowo, the vehicles electric creating look quarter, The new visionaries tomorrow. the Beyond. and the award-winning premiered the of breed of the From Metaverse second David to hyperloops, next-gen thrilling technology season Engineering and of at we Future with a actor,

allowed even to who Ancient that ever the brings into reach also us creatures filmmakers loss Antarctica through ice of of over long our super-rich life the deep and and world state-of-the-art to to CGI. past ongoing of and the in-depth secret archaeology create episodes of a our And Our a new allowed X the deeper the our Earth, rules man world's some contemporary us popular analysis pre-historic Putin continent, into dive premiering history best of special quickly with ultimately timely them. Oligarchs, collaboration Russia science

foundation, monetize in to ahead, in including audio year launch last new library. the Evil number significant group of Looking month finishing our of were thrilled women last Thrones also the progress develop We're productions, and University a strategy audio hilarious the from to unlikely globally defeat Day test Geniuses, of with Paul on super the gamers, exciting starring British an Audio tactics X and story actor engineering, thousands for who making Kaye. we're stages XX of in according Curiosity and of partnership podcast the One of substantial content Science to Game our acquired , real-world With villain science titles learned we factual Network Podtrac. #X to iHeartMedia, we is publisher a

life first expanded role with coproduced the of and original true feature films, sports year, the Audio a Curiosity in American history follow-on Network will shows as deep couldn't exclusively the look which upcoming into content in documentary the the Cowboy, Later have to our Elvis, of and Red psyche. podcasting an in shaping dives sports available original series. on Also Cold America, from mixing CuriosityStream. is feature played foray of well We first to War and our the more It's year with mystery the the we audio to podcast Curiosity be iHeartMedia, crime. this audio Dean will #X in beyond. content surrounding catalyzing Reed. pop the excited to podcasts death history premiere into this Our programming delighting original forward podcast complement library as subscribers partnership in documentary and into move Curiosity make publisher and look culture, our untold With with world our

our hand. of global millions mass cash sizable and really tens library, factual like Looking I content of improving subscribers, an our critical ahead, a financial trajectory. position with

scripted the a destination place to exploration. continuing good While quality content on forward history, for Curiosity be. and factual science, and with on-demand human that and to battles medicine informs technology, look streamers, fulfill the provide rage is adventure, alone stands competitive space, to inspires. to chance in mission world This our as reliable a the entertainment We content premium nature, between

to thank support. I'd and over financials, continued call Peter? Peter a for our detailed to their of the dedicated for shareholders partners discussion turning employees, like our Before more

Peter Westley

first for the team great It's here curiosity as joining be received May. warm to entire Clint. Thanks, my CFO, the on call welcome since in and to the I've I'd thank like company

results, of us. into Before the thoughts to our I'd provide getting about ahead to a company minute the my opportunity like and take

of built massive the audio category global a in We've of several library has content. global factual with tens and and established factual ourselves CuriosityStream subscribers brand. video entertainment media years, worldwide an enduring Over past as leader a of millions mission-driven

content, most costly brand for that content. opportunities has content original is Burk, inherently Our shelf general to segment of and and bundles our assembled monetize the global less category continue content innovative exceptionally diversified world-class and content, John maximize market to safe service sports We've Clint of who and Emery team partnerships. than life including a our scripted least, far is and Officer, appeal attractive with revenue through developed our Chief entertainment not Strategy stack also but to leaders, a Last is have an of long Head that leadership Devin advertisers. extend produced Rob

make compelling elements these opportunity. to of All combine CuriosityStream a

strong, million, seeing pleased revenue business year-over-year. I'm up results. sequential perspective, $XX.X growth QX International lines our particularly over QX. From of growth quarter second up each XXX% our broad-based, with year-over-year. to was Turning to product a report growth our was XX% of

advertising streams revenue we of important monetizing We're front story. the another source revenue generating Our was traction the think are our excited that and in in to diversified content particularly for as revenue quarter of an during of have gain CuriosityStream element to our strength in the noteworthy started paywall.

mentioned, the range more to EBITDA of of guidance exceeded XX.X%. QX revenue provided margin the of XX.X% created gross half QX and and was XXX for basis Clint relative first our points at the high of gross than year, previously guidance. margin As end

lines of we in and in As business of particularly growth our the most some saw higher-margin lines. strong improved margins our business

in in and net used cash investments of significantly reduced our million. At for first We million, available activities end a XX% the the quarter. totaled sale burn restricted quarter, the reduction also operating cash cash, compared $X.X $XX.X cash second with with of QX

a the spending the we hard continue of our economics. to improve expect at base take will of While in commercial marketing the look with all cash coming G&A, look our to our cost along we in some to and partnerships for to we reduce business content quarters, flow lumpiness as our overall

took Before QX forward. has charge accounting our assets. an related turning $X.X noncash to a that We going business other we impairment believe on and million impact of the outlook, this should to intangible goodwill mention charge not I in do our

$XX to as and million Looking technology reduce and operator, loss to that, ahead flexibility let's long-term $XX to we're the the to million to companies the revenue the quarter, what focus $XX we commitments expect million cost we we can many million reduce forward. and other optionality profile. base, looking flow, $X an to do company's third financial questions. continue going in improving EBITDA of of Like and sectors, for improve With media increase our open call cash to on our

Operator

[Operator Instructions].

with from Your Martin first Laura comes question Needham.

Laura Martin

on Is am I'm to want easy revenue third, aggressive? salesmen, curious XX%? too sort learnings business? advertising did it you big with super as interested Or and size of is? for I'm way am direct And that know, Could did advertising, end in as very and you very a your programmatic? you I you enter your are revenue. advertising hiring being the challenges to you go-to-market, And Netflix in this us that fan didn't specifically know, how then you before of up you And I start expect up space, you into go was was coming easier. ad what Disney

experience you're adding interested So your revenue date first in of I'm this advertising my about to stream? sort talking That's question. more

Clint Stinchcomb

the Excellent about to question, Laura. I appreciate talk opportunity that.

for category single-digit as right percentage it's important, partners say to growing we the kind obviously and see but grow, would revenue the us continuing the overall about see look it at of important. we vitally have of I the that we also is the of our partners quality so we of business. we that component is to and now, partners. And of advertising And And revenue high it's advertising, quantity have certainly,

But light social all what in we're also QX as it's we'll QX pay good yet running attractive. audio sponsorship. us we'll of and I and over mean those fast, So safe the even and increases categories, example, more for automotive. haven't we're and It's fast in category where brand we TV we it's to It's those. advertising regions. seeing have channels pay And TV. expand AVOD. as have those the we flexibility But multiplatform. is up really as it's we and in launch an trying the AVOD, and -- channels, sponsors and second light We're and to in third viewing we're maximize up the will electronic financial quarter, such, even

X and his architect we our to now those with everything sure right ability partnership And so the with do opportunities partners them. that of strategy really exciting. safe is that us I that consultants brand and of just was Devin -- key monetization of would one Emery gives we us content kind kind Cheddar's elite helping that's We the that beyond there. promised have Devin around in here make outreach provide things architect many factual say confidence brand behind really

a upside person we'll move that a of opportunity steps grow, of sit to we like to that Laura. strong we kind lot was today, builds the take as forward. into words, Hopefully, that for But lot We and there's us. made. programmatic we We a will the of as progress lead helpful. That's full-time as going here hire obviously, more think team build and we

Laura Martin

you're like sponsorship sounds It with helpful. Super advertising. the Yes. equating word

doing right? far, basically, So you're sponsorship so

Clint Stinchcomb

return yes. But a on for it's higher But packages sure. yes. for Both, us, yes, sponsorship

Laura Martin

last of the goes by know committed my which ops And it are P&L, like up you on more question this positive every 'XX? out laid why happens dollar you and is goes quarter that Peter, revenue cost cost the that then me me And but accounting than XQ you, by by from how in look goes remind of -- remind $X firm Okay. maybe, you makes if other cash earn up million, Can in million every the is accounting still I Peter, in revenue for the which metric you is you and don't out pay this to we $X.X specifically to quarter, goods. why revenue, works?

Peter Westley

about the to first want the take You goals?

Clint Stinchcomb

Yes.

toward quarter. it operations, important. of Laura, our as target, relates our made And I lot think think progress I that a to to from goal really objective we this positive absolutely, and moving in

that to the $XX want we All are long-term for that think of year there potentially a we are we meaningful we over balance, are where getting us up to some the but if that said, going next million opportunities come make have below investments preserve laser-focused ability payoff can on go positive. to to

Peter Westley

Yes.

the of and a mean, look the versus of your we terms QX just just gross second $X QX, our revenue I part $X expanding I cost of million, revenues had and over little shy little at million, quarter. if of of grew a margin we In question, had growth over

of I'm take this conversation, revenues cost argument follow-on happy in not following I'm to grew I'm than that the revenues. the So up a sure but faster the

Clint Stinchcomb

an accounting... is There

Laura Martin

first accounting your revenue. cost revenue and year-over-year that quarter it's offline. can your question, offline. looking second We it in -- do goes But up of more year-over-year both than an at do can we I'm quarter,

Peter Westley

Okay.

Operator

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

Thomas Forte

if Clint, I question, So I exciting boring and question. I have one have one apologize

So first. the one exciting

So amount on this. follow I in remarks, prepared this you touched fair wanted a to your but on

your love and against to Your pricing SVOD you're favorable the consumer. your pricing your I relatively on your current peers low costs content low would model. monthly position because thoughts

Clint Stinchcomb

we think offer consumers. we now proposition Well, for As we before, mentioned value tremendous a right

And have believe take flexibility, advantage and of to that, so we Tom. we plan we pricing that

Thomas Forte

dollar? But I boring apologize its strong the now sales this line one, impacted by how the expense and the And you point. right, at U.S. line all right. operating are for and All

Peter Westley

Yes.

specific even tell have international that. don't you, A to year. though that have can of answer a is business we I of big part I lot our dollar-denominated U.S. still. X/X is obviously, about the our of -- It's this So business.

it's dollar-denominated that of not that to a of come not there. -- going fair I'm international question. the we've extent bit So it's Tom, to expense full kind U.S. revenue But of you, answer to on specific quite a is There need a got. with and the the exposure -- back

Operator

And question Bank Peter America. from your next Henderson with of comes

Peter Henderson

program that's of is there. Or the for the can just give mean, just I color potentially you any is could At bit? the there curious low sort range, on your the built wondering through it a a if guidance So sales environment? little in I'm that to and of decline going guidance Just QX. some decline? drive there pieces sequentially end sort talk like you of is conservatism about advertising there

Peter Westley

lines. there terms look are are at items the I like that there know time. different there. at business kind I conservatism don't we in don't puts of and specific I inherently, in some some as if call any do Look, to I it. different think out want there think think is takes of this

I think know it's have don't more to to that. like conservatism. you'd I general kind if of you add anything

Clint Stinchcomb

Yes. timing we a And quarter. those, impact lot as single of can some issues There think, that do Peter, there's I certainly around partnerships. aware third-party are always, -- of a you're

growth And all our is so lines broad we across of from strong. had Foundation second business quarter. the

those is cost that certain day, management. getting, scope Peter's to every in with think, content mostly agreements. think I of licensing agreements, -- it comes sponsorship I the and And timing are really I back certain structures distribution third-party stronger particularly agreements, think agreements, whether Our

Peter Westley

had And in Yes. quite strong QX also as well. obviously growth we

Peter Henderson

any any on as think revenue timing that. specific I podcasting. is would -- one podcasting What No, beyond going launch And -- I yes. you that? for Yes, quick do mean, just the to And then later see more said the sort year. guess you opportunity sure. That's one helpful. I that in of

Clint Stinchcomb

-- actually launched commercially now. actually So we're Well, we've

Peter Henderson

are. You Oh,

sorry. Okay,

Clint Stinchcomb

Yes.

around I apologize that. for So any confusion

are later this that specials out year. original higher-end some coming have We

possible -- well. love incremental the to world, realistic what's particularly incremental that not video in as we high be as as to There's that content, relate not they audio video are we cost related cost. about content but podcasting the think is content provision I produce us economics to can it's we it high particularly because

video-on-demand nice promote -- revenue. revenue we as be for it's growth to -- just And opportunities and that services. so us, audio our to And our audio. subscription see overall it's have sponsorship some an And it's that over terrific and other and of great excellent both in IP, we and area a it's think will time, some CuriosityStream way another exploit generate certainly advertising to service mix

Operator

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

Darren Aftahi

Congrats, Peter, I on your new may. if X role.

million can pertains you it business? I about gross midpoint, It revenue in First, to then guess, to the, speak in sub we to mix, maybe the and like you're And size the third a quarter? kind of growth of $X margins looks like kind EBITDA guiding should as how improvement. the two, but at think direct flattish

Peter Westley

Yes.

mean, of to terms and In we subs, QX I subs subs. in I I saw see think growth in growth continued in think expect we

the part which got, Smart economics of in is and that things Bundle in the exciting obviously we've in most the one is overall. of to happening price attractive a point business, think more particular, growth the much us I higher a

-- be new continuing that people What the that whether subscribers question? signing a to it's to package or story. is was So getting of up into part that's second the going upgrade

Clint Stinchcomb

Margin.

So...

Peter Westley

We really. the first I half of in with don't a to seen line first change big QX dramatically really we've we is think don't what I terms it's to be in the going business the year. to the the mix for from margin quarter think of in what the -- margin half. expect going third In during deviation be saw

think is by much So side of not the driven margin. in of We of equation. significant going QX reduction seeing a -- EBITDA do that in improvement a a the primarily be much the on change assuming to we're cost not

Clint Stinchcomb

did answer your Darren, we questions, Darren?

Darren Aftahi

Yes. Perfect.

Operator

Dan your Benchmark Company. comes Kurnos And from The next question with

Daniel Kurnos

Peter. Welcome,

near-term Peter. -- couple there of guide a you just or Just comb then looking into over be market? a opportunities would around And little sort more your maybe the guys be as improve also and Peter, bit of want gave to comments kind curious are of flow there's And what maybe go between making questions there, could to your any in trade-offs cash Clint, with you this damper run, shed kind growth and of alternatively, the how parse outlook. you if you there you're tooth if answer to the there? dry cash ago play that longer any the and a I'd little light might the more said little on continue you those the fin- leave you in powder that outlook. out opportunities. but guys a term, Are in in the be near any bit case could

Clint Stinchcomb

part, take Dan. the first I'll Thank you.

as the nearly And to factual every no got probably producer that idea so think, content at, around is has any we world. surprise, look I

we first got of look at to different lots We look at -- second or content libraries. the we ideas. get So think different of lots

And And we of So We're require lot are would it want cash. not trying all below consider us. presented just to interest if to objective. how that shareholders that in the opportunities was Board that as something deems that be look really of look at of there our light an thoughtful dip beginning there our about are I to example. We at the was are would to us in at. is there say in -- a $XX be million we to that potentially that best cash not our opportunities

So is helpful? that

Daniel Kurnos

partner And want Because versus context helpful. are near-term understanding? maybe kind partner just I trade-offs cash and/or strategy. that's I guess channel some No, and about flow do you to in a how thinking maybe Yes. expansion of of follow-up growth the ask on in Peter of the

Clint Stinchcomb

I thinking Yes. we're that ways the about think of it. is one that And

environment areas. that this it's to rewarded global to all approach So we that can we're now, And confident continue I right in we're our grow business. think in the

is -- a The As cost we as well. very structure has know, shelf factual content it life well. language palatable. considerable travels

critical we this than and library mass built anticipated. we've much We have faster this

relates at upside channel of whether new as think we So ala then look partners we direct partners. Scandinavia, in have months if lot we mean as services. makeup lot over you percentage Latin even in a there, I distribution last America with came kind relates and of as have of that a on and still few working to the partners of traditional it's it partners, great And most example, higher think app direct the the we compared India. of to have much our subscribers channel partners, it and subscribers, of store an carte kind pure other to I a

So Apple, other the stores. other most than most example, from they subscribers services stores other app Netflix their than of as get channel an the from

upside third-party we today, Day partner growth for has really Caring one for One do been for And I We've years. closely of so we just see see a within upside that One over see Day there few have worked a a of there not months, lot and also University. the the lot carrying We upside really university. there. just CuriosityStream. And encouraging. considerable

partners at then only opportunity space, do partners. the So that the advertising and you Was app and see not getting channel distribution were also we Dan? significant with in but traditional what stores

Daniel Kurnos

relative you of bit the not there, Yes, are holistic took to that's parsing also I that with question about people is to but of SVOD slicing to it. sort coming of you scripted of worried really curious abundance pricing uncertain into unique a , kind try bit, to was continue maybe don't know, going offering answered Vinci can guys of dicing on ODU to little just out, maximize you the how just up just to bundle are other have but grow this economic environment? a also a Da extent and people sort coming offering an or you was the sort you a of little the environment thinking out through how how things because ask, -- in was of you I question adding breaking which get you're the lot good. pricing kind answer. I Clint, I Kids more, to of kind I the and about dollars where

Clint Stinchcomb

Yes.

who's Devin about And it Emery architected bit so Devin fortunate for have think little talk that. we're to would tier, since premium I today good to be here a our

So for just a review as else. everybody

been We or We built have can anybody our world that's in a and for don't it encouraged XXXX extraordinary by think standard tier, a And a our in up color why today a been very flexibility that year. has that's premium little a the growth month proposition you in the for us there? we've But Devin, $X.XX sign little into give lot service the deliberate. future. an provide of --

Devin Emery

Yes, definitely.

were a was has about few of across very we rate different lot genres, So significant and partners improved our this of we have our And a Clint rolled bunch talking out we've as flow earlier. you as growth giving since earlier. been upgrade a numbers

up for We we also upgrading have signing a those ton of optionality drive in tiers. people into how how partners or and we work with those

under all how ARPU direct so increase service. on the falls of this we our And

terms the think that, we where in obviously, strategy about is pricing board. across of So our

are standard our different the who is We the also effort people different multiples is up. get that upgrade CuriosityStream are for strategy on choose premium in think of for can people can who sign in on who It on we up of CuriosityStream, ways our up are a those the we is SKU. tier, plan coming find upgrade terms path. who And higher-priced to X get sign X it ARPU an what sign we ways to about people the lot because our focusing higher to

as saying, you're Bundle Smart One Day we at price slightly a minority that is different different Nebula, that. potential the in, of -- Bundle, market slightly have promotions in encouraged very about far what and And successful very as app so by them to to get can own to some tell can have. also stake with but different opportunity we types been improving our that University is or in Smart within the users been we flow points. but bundling the capacities have planned standard is. We the work which they running increase in upgraded we We've also also partners services

this So as we as of piece a very marketing around overall growth view our strategy plans important strategy well are. what pricing ARPU as

Operator

from And our question comes Research. final Jim with Barrington Goss

James Goss

including Thank for right. All you me.

really but of something hard is -- the owned save a clearly, can you it Netflix, and of You if slide unless I a was to to your mix there you into more early, from want some know flexibility general talk established to versus content you your already a but first with of be premium -- And about. attract prosperity. have that -- wondering there you customers. you've new, and of even the and can't of rotate content this, as the bulk people share would a the about a just tier And -- to retain the is license I'm talked way lot content it's there's And That lot -- I going of that is that product? area with? content? do push into higher-priced be to way tier there's

Clint Stinchcomb

users. getting supplement That's a well the to point, think that roll X continue production great possible. your hard X in of for second we're want would day today, make that XXXX. a Obviously, would we I to week to question, they're having content yes, then have I Jim. it to content -- they're watching, that we say and but have titles are into I there think titles personalization, ever sure the to we And out year, important. that think, particular that. titles resurfacing through new serves of can as that And with I a we'll better more X,XXX thousands at I that kind becomes, to best at every anybody to we be get have that content and experience certain mean, thousands With

last that Hollywood, anywhere the about is the I series partner that's The premiered think an watch which against Built America. created of just we I Men who a any David would X-part there, in up I extraordinary production Rise Stephen just other service world. rank you'd on same Friday, anything of The history producers Hollywood, mean Who beautiful. Entertainment, media

answer I did hit sure that's to your all certainly hit content to compel Jim. questions? you around move Did we to make premium did we just different I give so a a And want I help -- could full tiers. there, -- that we that people

James Goss

available, all even at comes still extent in Well, if premium some try I of are know you content, at the -- back do perhaps effort. keeping later to to that's do it -- fresh hold maybe on? people unless it's moves a to been to large that tier of allow is this feel time? available probably of of and all it's to practice been revived big a back base the in Or it's some there out, the you it it all maybe you're you

Peter Westley

Yes.

or tier piece, you standard of tier. is our Bundle, including unlimited are same devalue So about the in the get that we including other is Currently, building the Smart of any premium to value plan. There and answer through the there. what are things on other want on you're premium you concurrent that available premium all CuriosityStream, bunch we're whether the the not tier, don't standard do making assuming differences benefits in we what to But streams, a household are

be we to not content our available are with premium subscribers. around Right there future back are devalue content interactive standard holding the only experiment we available that we because, things And don't that in to experiences so now, them tier plan. availabilities looking for to at again, only while will potential want

making it putting pulling into content of are sure of work we but into that content back having that are on our recommendations Obviously, seen on a lot out may go content platform fees. and when quickly. growing the come our and of people their exactly, not library came the have evergreen terms lot Not off a side the we have platform. In been product

always we users. of and new often so lot a have And

in new for And hitting content engaged been because they We something have signing might that up that week, still something a that it's their for make sure And our so has service, want to if not also that but when is audience. know feeds. are that, with signing fees. but we their they're hitting not is they miss the

on there, while make I have, that recommendations you're getting just the to make available at of So think, that is and discoverable. engagement the a we that sure which sure library discovery exactly lot always are is we putting easily work our side what do,

James Goss

you think some might any I might how it the And way last talk one behind directly relate CuriosityStream. that there's if it's about role factor to of . technology If it thing. Okay. could I And wonder and the not your video. how into or if applicable.

Peter Westley

Yes, sure.

to really So the to some and and here, way our of predictable having shareholders the done I went work saying which at the investments is how an business to lot a model in think through changes look structure I that went the applicability put we be make X more the needs create benefits were hard create benefit ago. to is could they companies taking there about even evolution company a the the is huge we business better would the the we rather really that X did and a by could in strategic we profitable, through is Really, we what the needed of about than by to say making cost exercise way value there of the think to model years where value and taking and position -- exercise a that more business there's together. for kind -- create the and model the business than

of if helpful we kind at it's maybe more cost of a through kind should see we and the to we but to partnerships look analysis should an business it's where to and and I the synergies, leaning in and rather of little. forward be be go structure still will, So think where all than that think look business and strategic kind through intellectual pulling of here back model a you have relationships framework

Operator

the concludes you Thank QX Earnings This presentation. Call. you. CuriosityStream XXXX Thank for today's attending

You may now disconnect.

CuriosityStream (CURI) 16 Aug 222022 Q2 Earnings call transcript