Earnings call transcript Q1 2023

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Operator

Good afternoon, ladies and gentlemen. Welcome to the CuriosityStream First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode and please be advised that this call is being recorded. After the speakers prepared remarks, there will be a question-and-answer session. [Operator Instructions]

I to time, over the this Ms. to at would turn like call And Relations. Investor Garcia, Denise Please ahead, go ma’am.

Denise Garcia

today CuriosityStream’s Welcome its Westley, financial discussion first Paul. CuriosityStream’s quarter Clint Thanks, to XXXX results. CuriosityStream’s Chief Financial Leading and Executive Officer, Chief discussion Officer. of are Peter Stinchcomb, the

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

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

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

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

also the filed. Report our forth set Form XX-Q XXXX, on for will in information quarter Additional XX, be March ended Quarterly when

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

Now I'll call Clint. the turn to over

Clint Stinchcomb

Content, Tia all our Rob of everyone. you our on I joining Hello and and call Denise. appreciate Westley, our CFO, COO Cudahy, today. you, Counsel, us are Thank Burk. the Peter General Head Also

enhanced good added last our critical-mass rolling Distribution library unique content. paying our through several compelling new around new and six made and with direct weeks In earnings in call, we’ve factual pricing, world, since out the we partnerships new subscribers our Bundled million subscriber progress the early have

business and our exceptional and of us provide strategic agreements, distribution favorable with that debt strong attributes content flexibility. base, direct lack believe cash position are that We subscriber library, multi-year

are finished in including potential encouraged solid QX As to such, in the profitability We we to are interests positive shareholders, by continue business closer seeing will best repurchases, scale momentum the the that we we moved combinations partnerships. and and in a business. of believe position, cash our consider are opportunities share

I ahead, and do quarter, flow. not Looking second results prior expect significantly but the QX cash revenue, pleased the to to we we results lower our adjusted believe am trough free report the only that, year in represented revenue. quarter, EBITDA adjusted we Despite compared increased for better

to of company conviction financial our improving on trajectory was cash prioritize reinforces results. Our interests and despite best revenue had our dampening shareholders, that our of effect and the flow the it the quarters past line over growth the couple my decision near-term in top long-term over profitability

cash flow, discuss As and efficient, remain positive expense top businesses, in of is in adjusted our pipeline while revenue trends continued prudent Peter greater of achieving detail, moving opportunities laser our to free subscription management. the positive financial a necessary on other lines will outlook across to focused generate favorable forward. We line based commitment investments our growth making on growing sustainable

of players face tighter of the well-capitalized to daunting less opportunities and in environment We and interest potentially diversified financial growing a rates less conditions current result expect as pipeline increasingly rising challenges. accretive

on of enter we full or reflect to won’t value what opportunity, when if any exactly the into we table. doesn’t might the say to difficult trigger we be particular what transaction adequately that any to we the bring pull believe it’s While

and We are our in future. business, command of about confident our

more it some of new made library critical-mass of guidance. recent for over and touch to highlight our a financial on I and additions quarter QX we a key developments turn before results our briefly Turning to first discussion the business, exciting detailed content to have the Peter I’ll few

only tests. our pleased performance in on as a Direct our service rolled subscribers, a few monthly revenues our new pricing points quarter. out And been relatively we during consistent the year-over-year extensive marketing while grew weeks the basis we quarter, with and the and been subscription it’s investment have significantly price standard our since We annual subscription results early by for consistent reduced business direct higher even expectations. encouraging, with of prior were and were

pleased continues investments content around in sizable cost-effective Turning to and high-quality, world, content our media and which the quickly localizing Latin made Asia, partnerships variety partners are earlier with quarter companies. languaging a partners, expand North from our to to are expand were this announce America business, Bundled we legacy scale across new alternatives Distribution increasingly seeking footprint we global who Europe, to the have with Australia. enabling aggressively content our us key America, The our of and and to resonate price

and MVPD, and films non-fiction The to million distributors streamer, Fetch and Amazon’s deliver Slovenia and paying help Telekom in include: services Eastern Video Recent channels others. Netherland’s partners relationships our in MTS, new Curiosity new These will Channels TV NLziet; Ziggo; Central Mexico’s European subscription programs launch Dutch India; and Izzi the largest subscribers. Australia; Prime several incorporate Telecom; Megafon, and among premium

-- globe. integrated partners product channels audiences direct to in with forward We our set distribution as we for to the partners paths a our of moving full revenues offerings from -- both app improvement licensing across monetization creates from and as us range connect expect localized our meaningful

In Free opportunities our licensing. addition to content direct FAST both Direct partner subscription and and distribution we deliberately Air are and both initiatives, through and thoughtfully AVOD, growing To leveraging

as ensure content. powder manner. targeted comps a provide These are ability clear to our that value increasingly to these the subscription we to secure efficient are dry us for also full believe promote now and and working in and, lot predictable, the we environments our of platforms be for available tiers have We what we highly to an

The critical-mass XX,XXX programs invest what yet off to we can original while that experiences. we in with continue new deliver we January, In library believe we leveraging over differentiated highly side, content the and engaging kicked of is behind-the-scenes so Harnessing NASA’s On our things a dive Breakthrough, content source to the Power boldest solar hit save energy mission of our at Mission, and from into origins deep the the timely look, could our that Lucy a our of series, Fusion: Stars, system, unravel planet.

The separate In Story The new unraveled Pirates. thrilling to in mysteries Vikings: from surprising of in a fiction our February, we from True past embarked voyage Kingdom, Hollywood on and fact Lost

quest often series, a of price woman paid look in the look the at at ultimate We the world, tales engineers, who untold uncover consequential feature-doc, with and a Queen license. in first pioneering history, and activists series, the aviator pioneering artists of explorers, the American Science, XX-minute of the pursuit State have three-part of pilot’s Skies” a an the also the continued and African Deadly the six-part Bessie unflinching our who most the put on progress, the to the human California, Coleman: Golden the to moving became who changing edge portrait innovators earn

disciplines had most On quarter, six-part the premiered on science the of off and into companion a on the nightmares impact delved of Capping crime produced was they’ve the a augmented scene of and CSI of investigation the wrongfully our inflict we tragic some tools The anticipated they behind with and flawed iHeartMedia, lack also through distributed forensic podcast, the lives origins Trial, investigation partnership often six-part with the well-known the convicted. personal the our series original further at wrongfully which look accused. highly series,

five-part the and the on the history CuriosityStream These shining titles and Americans native biggest beasts specials Curiosity West, slated and history Audio American of light natural for unlocks of are on who the walk West. our The just planet, a release Wild that secrets series XXXX. tribes, landmark the women, notable Real Other GIANTS, beautiful that immigrants a shaped series original a a Network four-part American series in and few African evolutionary include

ahead, cash we are in that improving Looking drive flow. free capabilities and we place have the assets and confident profitability adjusted to

see taken this a on rationalize organic with to a behind in our to we and variety forward. opportunities believe prudently large-scale decisive creation We the commercial required leverage created base of our strategic have to operating we the value significant library as creation ways invest investments and continuing explore us, to foundation have to actions With for drive languaging build outsized as the execute with content we win we many we while partners. initiatives, environment moving growth and cost

results in the maximize pursue QX demonstrate free path this all significant our us baseline, From summary, profitable to on to available we near-term. In of and drive to flow made shareholder expect the we positive have avenues to achieving the value. growth cash the adjusted progress

over Now to I’ll Peter. call turn the Peter?

Peter Westley

Thanks, Clint.

by tightly most focusing channels customer with our economics our made efforts content we quarter, and to our our and improve efforts overall overall productive results progress the on During in financial our acquisition. on first marketing spend, expenses partnerships attractive concentrating of further managing

First revenue as adjusted these from and of in toward his and ranges came mentioned free cash beyond. in and, the to Clint build flow guidance we high-end remarks, levels our expect quarter during QX

on or these XXXX. more in still a basis. and compared the growing in $XX with by reductions, or the advertising more and spend our expenses context were achieve some XX%, by To million, able quarter while the than than marketing business of XX%, first quarter to direct extent provide content around our million, we our transformation, reduced $XX cash We comparable our year-over-year on

to content growth a by change quarter. revenues, million first offset Distribution and reduction was revenues, year-over-year revenues Other million, the quarter our Direct reduction The compared in partially licensing primarily categories. year a and Turning our driven results, $XX.X was in $XX.X in a in to $X.X $X.X revenue million prior in revenue million reduction Bundled Enterprise $X.X million by

subscribers on our we testing, most concluded with part was was XXXX. increases activity as end quarter $X.X an in our new of Our We largest believe first our Direct this important that call. introduced price X%, we increase the revenues category with last during the of the Direct at of million, the the March, for compared extensive the this discussed price revenue which at business in business. quarter quarter came of

revenue to $X.X was our second largest we compared to Licensing, million this generated the category quarter, of Turning million revenue, Content year prior $X.X quarter. in which

deals lower the profitability year. licensing in quarter pre-sales of actually content year-over-year, increased of of improved due revenue the zero mix this revenues an While line first a this to margin revenue, with percentage decreased

next $X.X $X.X we that category last Distribution did Our grown quarter first million from Distribution, not revenue quarter. the was to related revenue year, XXXX million year-over-year. the largest mid-year of XX% of Bundled saw in of contract have which revenue a would renew If deduct Bundled we

several to As Distribution new engaged we remain and quarter were first with Bundled mentioned, the partners pleased Clint enter in we worldwide. actively distribution into partnerships potential

driven quarter, quarter, year margin of but by lower gross in by from XX.X% quarter in prior lower the First decreased primarily X.X% expense. amortization fourth from year-over-year XX.X% driven revenue, the improved content

down of mentioned our As level and test. at was million marketing did quarter I We quarter first $X.X expense more reduced purposefully keep year-over-year. first $XX our than marketing earlier, a our advertising pricing during spend million

expect at be level of our to a the remaining and marketing the quarters expense higher year. We advertising in

million expense discipline. last expense year-over-year, the was by first XX% reduction $X.X year’s G&A of during continued driven workforce quarter down and

EBITDA million improved of quarter’s loss. adjusted than profitability, from and was $XX.X prior XX% year the to in loss Moving $XX.X a XX% million of $X.X better period, million loss last

flow down First cash below momentum. well use cash positive quarter the we This by the sequential basis was year-over-year million was million $X.X $X.X progress of improved our underscores have prior million content in as as sequentially. on and XX% flow, a by on than made tremendous of $X.X year cash improving Adjusted quarter. continued more and $X spend million free slightly

quarter, $X.XX of $XX.X quarter, remained great restricted shape cash first the and sheet with per million end believe outstanding overall the and assets value of of approximately million our totaled liabilities, debt into had of $XX cash, We translating equivalents, or share. of the million. book At at the $XXX million, cash end we balance no in and $XXX

of cash flow we $XX million. to guidance, million the in the and range range million adjusted Moving to to $X $X in expect quarter free $XX of second our revenue million

reflects flow focus down cash priority this continuing guidance burn cash for top our bringing free our us. as remains adjusted a Our on

I that I’d last guideposts call. quarter’s out also like XXXX in to reaffirm the laid

million and expense a to $XX million, and XXXX million As $XX $XX in of million. to $XX of amortization on expect content $XX reminder, spend of cash expense advertising content marketing million million $XX we to

to call the open let’s operator, that, With questions.

Operator

Thank take question Instructions] D.A. you, afternoon Tom Forte of We'll this [Operator Mr. from Davidson. Westley. first our

Tom Forte

Great, thanks.

sense and you're how So follow-up the year of it are customer advertising a that the progresses? question increase. in sounds gauging spend. like then will that on get early But as you And better have we how price spots determining a I the

Clint Stinchcomb

you the Thank question, Tom. for

new March in launched So new expectations. executed and we XX, with just to the along for subscribers, our summarize, moving line that's pricing

a existing roll We of we price. through of messages I shift we're we've the testing quarter, the we see where and think our are retention, conversion weren't options plans went testing not with as subset on a percentage looked seeing service. of monthly a did will increase take more with decline the subscribers change upgrade but than surprised it of toward quarter our time to we're plans, through X majority marketing customers. slight also intensive visitors the annual as This process the in and important. to to of we combinations subscriptions in bundle at a our really shift data, do million rates what variety was the and financials higher smart yet, a in And points, some to first price price And and

per that's next quarter. subscriber, of give a more churn. than lifetime increase us all than greater change report value but in new XX% made So have this up we we more to to expect lot for Overall, the

Tom Forte

Thank like some you to are expecting for $XX it Alright, dollar the In that. on on maximizing are question $XX engine the you're generate heavily most marketing search the looks marketing? the some outlook, or are you there you about Or every there optimization? spend million dollar. you, so spend? on contractual is basis. full-year what million, marketing spend spent focused marketing on effective And on second million $X return Are Clint full-year contractual is, a and marketing you finding is of return then way how thinking to your your highest

Clint Stinchcomb

that any over I'll the add hand additional Peter to I'll first it part and take of then to color.

some be that to we right not Tom, relates we've we've there not we What the where money -- So want quite spend, areas about obviously. time it in -- we as now. are is that to how some thoughtful fertile see do marketing pretty spent that

good subscription have mean who we are by I our So service is direct really at service and who offer video demand partners that marketing. or

Unlike to XX% acquired generate subscribers have was the as the SVODs, and who you If in channel subscribers, of subscribers less for to than come us. direct through look those large composition at XX% channel that that we how direct our compared pure through stores. past their many those stores, XX% of

So it’s some we those are with we're spending in money and we where appropriately And to predictable. partners. territory, way can spend It's going that a appropriately. fertile scale

as So continue course increase we're are channels and year marketing most closely good trends us. with spend the the partners with work for as that over lot we of confident the there to a those make seeing work the we'll and we really that of sense those

Peter Westley

of balance contractual of the I'd get XXX,XXX roughly was Tom, first have add your for thing commitment the The year. one Yes. to question, part we of to the

than million less commitments. So of $X

things previously we some have did the commitments. pretty of that substantial one So

this lack most will us really channels the marketing give the allow contractual a and flexibility concentrate whatever marketing of that does to spend. spend to better for are on So much return drive ability the effective which us, on us commitments

Tom Forte

Clint. the you, back in I'm to Thank going Thank queue. you, Peter. get

Peter Westley

you, Thank Tom.

Operator

Laura now We'll go of to Martin Needham. next

Laura Martin

by in distribution your intrigued XX% really have revenues, the Hey that guys. Dundle was this deducted up renewed. Hi would a if was been wasn't million $X.X I $X.X you million there. thing it that but

How And which revenue, these profitability. signing discontinued in we of more deal is questioning what guess now you days the it than a I'm actually hurting wasn't doing lot are the up we're sounds one bundle different olden last what profitable. ended were hoping that year, I deals. So but like kind actually

Clint Stinchcomb

me Laura. Yes. Great clarify. allow Thank for you question, try and asking that to to

that number had into both national So regional digital distributor scale and that proposition. and video entered agreement entered late into advertising we a a networks that of really agreement, the a traditional with a networks at of compelling we distributor point owned and owns three-year in XXXX

advertising them over to side of on next the business. of made at looked And so spend it course we and for their that sense the looked two years as us platforms, at with we our spend

with was And unless as spend though weren't to distribution so well. there going component them we a

thought we and out us. for And reasonably so so deal they and at We wanted for direction, forward over the we places. is years, services use assets into other the could an worked time didn't moved the as use a shed the had move put But we like it commitment did years. as we at in it that with. that money first we two looked And had many to to pay better well advertising different we something have see -- it,

was So deal. a that unique

we've distribution that content signed, sense? For for are, make that volume into those since those at no course, we've entered we sort that agreements with the of this problem built library have. -- new we of baseline beyond point obligations us no a provisions that Does traditional

Q - Laura Martin

It update helpful. we can super on going what's get add makes Yes, Yes. And totally Clint, then, on tiers. an with sense.

You quarter Can sure an AVUD are where channel think, stream we’re you launching update? were a in channel, revenue the about, you I'm tell talking I advertising getting. fast us if last or

Clint Stinchcomb

Yes.

for you thank So asking.

as title tiers. heavily very, $XXX,XXX paywall our in We out for limited generated the distribution I that been to-date do We've some paywall. as of front biography single have building that a very just around that subscription think mentioned title content one last have of focused there call, put on alone. of that we we there. lot we've I very the been front we've in in conversations done And while do little the

right fast placements, the with the AVOD matured, because a approach will look marketing of comps here work our we to content commitments, kind the right and business A generate. of lot has and secure good the of to idea what kind largest platforms of now. really our have so And is at since

So fast distributors, on is do marketplace. the that's right we're with the several have internationally intent a there to a our few as quarter take deals it to our Dipped to we'll there. channel in trying next and more report do We toe have well.

where certain there free through generate fast AVOD we rights. in distribution direct potentially we and with fast would will and moving licensing license and and both platforms also revenue these and to through agreements air from So parties AVOD content

Laura Martin

Thanks the Okay. That's Appreciate answers. super much. very helpful.

Clint Stinchcomb

you, You Laura. bet. Thank

Operator

go Bank We to you. Peter Thank now next America. Henderson of of

Peter Henderson

thank question. taking Hi, Yes. you the for

I'm helpful. guess on distribution any I wondering So sort you can know, quarter, the would you in of, if I the you or be know, and was just any just deals you about partners how color several those new can wondering, that sort of talk announced new work just deals on subs, provide those color economics ran the through. you

Clint Stinchcomb

Yes.

I costs. is U.S. they obviously as whatever are at so in to reduce do Peter, distributors, think a all zero Outside few the still growing to -- U.S. traditional the points Pay year. TV can a you know fixed

to become door to are services a compared opportunities but to there's agreement certainly some with -- the for to distributors fee that is of there so we -- and deals try And today, typically products on ago, easier a do for work multi-year the CPS don't And we really deals, additional with offer close fixed a we fixed light more have we us. just And proposition few it's provides security years fee, wonderful of for as our exchange possible, in everybody. in whenever scale. and

are of is increases. is really rate lot there add companies, the other going I The significant marketplace on the would in legacy one that looking to that larger media drive who dynamic a are thing

over of when cost they this And years. sort of alternatives, over effective that's turn? where that more we so handful think people grow opportunities to year happens, turn do Well, high the for next quality some next us continue nicely and will and so that ideally to creating

Peter Henderson

That’s Thank you. helpful.

Operator

Thank Research. you. to of We next Barrington Goss go now Jim

Jim Goss

quarter, should frame press of expenditure $XX run a you? Would in $XX a for how content release? what The will that Thanks. for the million series rate buy level and to we is buy, listed expect? that of it Is that you example, And per million all say year. those

Peter Westley

spent million, the QX, $XX We to $XX with the for bear $XX.X the hold leaves million that year. so so had just So sec. million me spent to -- -- of we balance million on in roughly $X.X a $X.X just we million

of if a So really per in on we million would quarterly balance quarter haven't go you averaged that balance do for little but expect that down to beyond, range magnitude content set Call we $X a probably it the order year. of would basis of our it's kind be the for budget kind million the cash imply year. on a the $X of spend of to and out XXXX in And bit terms same a forward, our of expectation. somewhere come

Clint Stinchcomb

And little a to bit add just more color, Jim.

have has that We been content in opening some XX in cases. to I for production my in remarks even that certain XX-months mentioned

expenditures some obviously Well, at seeing from prior coming amortization. for time, And of our of so that some increased we're same series even the reflected breakthrough. like in franchise consumption the content gets that's

we and with plenty have then what to of to people. breadth to library we confident provide that with content keeps a people is have -- depth new them of what we're that continue So really the and content have provide provide is coming down with sufficient and what with we them pike

Jim Goss

you have And all the through can what you of tell me Or you -- do you level you produce Do are this? do stages Or you curate do Do -- them? the involvement big ideas? them? you lot your a creation? have of actually flying of how

Clint Stinchcomb

Yes, Excellent question. Jim. question, excellent

of could imagine. tend because programming in our see ever heritage our when the Because factual that past, of and it up. created of of every to we've all the group experience idea add that So have, because what aggregate has we you say we hundreds you years in probably content would nearly that the I is people the of that

XXX partners today over and have partners. distribution production relationships We well with

we lot Every we're the we've if a meet. with then seen involved ideas heavily process they producer we make content, milestones six need a commission lot piece to five of of see to that them. has yes, and a of decision the So or ideas, through

good relationships have, know who's We -- the we a as that relates in it we of to project. light particular really

that We to and all a stuff. sports leverage around space thing experience world, or And of is or have, it's those large are also factual lot I and acquisition whomever this we whether that, partners the it you the or have expertise for bear talked a bring NHK fraction we And the be the world. OTF CFD and relationships CDE Banijay we said, about see might around rights. or as the we or so content entertainment And or through just we've pay with great a all what to need of of opportunities. scripted of about nice fraction costs in of as past factual

more. keep our wanting confident content to very of to have happy we that helpful, subscribers access and we're plenty So Is that Jim?

Jim Goss

was one, one example. number large to have that's opportunities could of the some recently strategies? run what big this any streamers into wondering very I'd today No, contextual Disney your framework And discuss if helpful. problems -- last I'm have for And business have implies down you and a streamers

Clint Stinchcomb

that mean, I a difficult direct think early say, friend what build Peter. that of, we I'll sort revenue. Jim, saw over start that really right? to I and business then to I colleague I'll is is, XXX% we're that and seeing think would it's good reality subscription I wearing its reliant pure on my on hand head,

world. a help people factual can are factual with to victory, So our where and direct We're case, path key world their through our delighted our that additive step satisfy consider the to and the the even of parts partners the happy to success happy the in. to to do entertainment that through In premium through is we so back business we're and licensing provide working to through We're that really to want be and you best working to that's content curiosity us, take do in do media We intellectual brand approach. with companies it what other bundled partners. for through subscriptions. video

growth, it, I think that of way lot a generate there overspent. line another Peter? say just know was top such subscribers companies generate I just don't to I to rush think

Peter Westley

to our out The our is in there. is category our already as Look, only ability well I'd really the breadth of of a smart as by we the in is the differentiated has and this really has offer cost then global services, category have long we we variety as services of, and this touched think content on about that prior category is we that compared of definition is a that bundle, offering things of add a have kind the as in service deal. And our couple and well. we've touched services not great one in that things, many to calls content and other talked marketplace and depth unrivaled we've which also of other, our complementary it on Clint life, that differentiating, low bundle the of ability have also and of really selection has but to distinctive about

are different there and is money losing think relative as number unique reasons their of of amounts butting who build significant there to a about really our heads go of we story So the they businesses. significantly kind to trying of why are out larger -- some and streamers

Clint Stinchcomb

broad in it's easy people's of sort for talk a including Well content proposition light peeling the, equally Jim, a in, what's we of, able couldn't to global, the going Indiana. control to that peeling economic that broad of India of a factual we're the variety of is somebody territories to across someone and not in said enough Peter of profile rights the companies content global factual with be content Lots evergreen we're can that of set I about in rights reasons emphasize beauty have. most of and set are associated

Jim Goss

your you very much. response. Thank Okay. Appreciate

Clint Stinchcomb

Thank Jim. you,

Operator

Davidson. Tom Instructions] now question a follow-up [Operator take at we'll from D.A. And

Tom Forte

Great. Thanks.

the off on So for Clint, follow can't you hook. my let question, I

partnerships sit can thoughts business you it just two So juicy combinations scale more to get and let statements on there? level high with

Clint Stinchcomb

would media I no say, path and We're free no in Tom, that is to flow. adjusted the secret cash what have ecosystem has affection cash, today guess debt, I limited considerable what we unique for it's by small Street clear is positive that mean companies. Wall I

We evergreen have deep a wide, content library. and

XXX direct have currency, Considerable countries, a in a agreements XXX unique XX multi-year profile. bundled powder subscribers over and in in appeal. languages, public demonstrated that's programming We global so dry countries,

including may the that who combination is one media attractive a And not I landscape. think be partners, companies to set obvious broad of in

so I secret it has to I that be and want certainly our as appears need Street the best shareholders we many think And We people. limited of today for it's larger. to in that companies, what's no like small said, to affection do interest Wall that,

with and obvious content, where of our be our not light opportunities light have would I So exist, to happy the have might ability for we're conversations they to in companies be media in of Peter? conversations other that profile, those I companies, have we as people again, as with think think

Peter Westley

No, I think you captured.

Tom Forte

additional the you Thank comments. for

Clint Stinchcomb

you, Tom. Thank

Operator

and conference evening. CuriosityStream thank questions ladies no have first much you. this And and you Thank also Again, to quarter we for earnings like call. joining, further gentlemen, thank so great all much afternoon. XXXX you joining for everyone the it I'd appears a Good-bye. wish

CuriosityStream (CURI) 11 May 232023 Q1 Earnings call transcript