CuriosityStream Inc
curiositystream.comWhat Do They Do?
Offers factual video and audio programming to viewers, and licenses its content library and data to media and technology companies.
10-K for FY2025, filed Mar 12, 2026Founded by John Hendricks, former Chairman of Discovery Communications and founder of the Discovery Channel, CuriosityStream is a media and…View ↗
CuriosityStream’s award-winning content library features approximately 14,000 programs that explore topics ranging from space engineering…View ↗
Our Content Licensing business provides factual content to entertainment media companies. In addition, we work with technology companies to…View ↗
How Do They Make Money?
Consumers generally pay monthly or annual subscriptions upfront for access over the subscription term. Partner platforms pay license fees over agreement terms; media and technology firms buy content or data licenses, with some high-volume data deals paid within 30 days after delivery and acceptance; bundled partners pay annual fees or per subscriber, typically quarterly.
10-K for FY2025, filed Mar 12, 2026Direct Business. DTC includes subscriptions to consumers as well as bulk subscriptions through enterprises, and provides monthly or annual…View ↗
In these arrangements, the Company’s performance obligation is to provide the partner’s subscribers with access to CuriosityStream content…View ↗
Revenue from these arrangements is recognized at a point in time when the license period begins and the content or data assets are made…View ↗
The transaction price for these arrangements typically consists of either an annual fixed fee or a fee per subscriber. For fixed-fee…View ↗
$71.7M
-
10-K for FY2025, filed Mar 12, 2026
$71.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Total Direct Business
Recurring
10-K for FY2025, filed Mar 12, 2026 |
47%
FY2022: 44%
|
Total Direct Business, FY2025
$33.6M Sources
|
Recurring |
|
Total Content Licensing
Licensed
10-K for FY2025, filed Mar 12, 2026 |
46%
FY2022: 32%
|
Total Content Licensing, FY2025
$33.2M Sources
|
Licensed |
|
Bundled Distribution
Recurring
|
4.7%
FY2022: 15%
|
Bundled Distribution, FY2025
$3.4M Sources
|
Recurring |
|
Other
|
2.0%
FY2022: 2.5%
|
Other, FY2025
$1.4M Sources
|
|
|
Trade and barter license fees: Content licensing
Licensed
10-K for FY2025, filed Mar 12, 2026 |
18%
FY2022: 0.0%
|
Trade and barter license fees: Content licensing, FY2025
$12.6M Sources
|
Licensed |
Who Are Their Customers?
Consumers subscribe directly through CuriosityStream's site and apps or via partner platforms; enterprises also buy subscriptions in bulk. Media and technology companies license its content and data, while distribution affiliates buy bundled access.
10-K for FY2025, filed Mar 12, 2026The Company's streaming content is provided to consumers through two primary distribution channels: (i) direct-to-consumer (“DTC”) and (ii)…View ↗
DTC offering includes subscriptions to consumers as well as bulk subscriptions through enterprises, and provides monthly or annual…View ↗
We generate revenue through digital distributor partners and vMVPDs, including YouTube TV, The Roku Channel, Apple Channels, and Amazon…View ↗
The multichannel video programming distributors (“MVPDs”), virtual MVPDs (“vMVPDs”) and digital distributor partners making up our Partner…View ↗
Our Content Licensing business provides factual content to entertainment media companies. In addition, we work with technology companies to…View ↗
We have affiliate relationships with our bundled MVPD partners (including Multichoice, FuboTV and Izzi, among others) and vMVPDs, which are…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $6.4M in FY2025, but brought in more cash than it spent: $13M of free cash flow.
10-K for FY2025, filed Mar 12, 2026
−$7.3MView ↗
10-K for FY2025, filed Mar 12, 2026
−$6.4MView ↗
10-K for FY2025, filed Mar 12, 2026
$13MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
$8.9MView ↗
- ▲ +1033%
- vs $784K in Q2 FY2025
-
Aug 26, 2026
CFO Brady Hayden departs; Sean Piche is appointed successor
Piche is scheduled to take over as CFO on September 1, 2026.
Sources
8-K, filed Aug 26, 2026
On August 26, 2026, CuriosityStream, Inc. (the "Company") announced that Brady Hayden will step down from his position as Chief Financial…View ↗
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Aug 12, 2026
Raises full-year revenue and adjusted EBITDA outlook
Full-year 2026 revenue outlook is $77 - $82 million and adjusted EBITDA outlook is $18 - $22 million.
Sources
8-K, filed Aug 12, 2026
Second-half 2026 revenue in the range of $38 - $41 million, and full-year 2026 revenue in the range of $77 - $82 million. Second-half 2026…View ↗
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Jul 7, 2026
Acquires remaining ownership interests in German operations
The deal gives CuriosityStream sole ownership of its German operations.
Sources
8-K, filed Jul 7, 2026
SILVER SPRING, Md. -- CuriosityStream Inc. (Nasdaq: CURI), the global factual media and entertainment company, today announced that it has…View ↗
Flat. Revenue was $71.7M in FY2025, about the same as the $71.3M of FY2021.
Artificial intelligence licensing
The older description focuses content licensing on entertainment media companies and selected rights sold before production. The latest report also describes licensing content and data to technology companies for training artificial intelligence models.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 12, 2026Our Content Licensing Business is focused on providing factual content to entertainment media companies. We have the opportunity to provide…View ↗
Our Content Licensing business provides factual content to entertainment media companies. In addition, we work with technology companies to…View ↗
Who Do They Compete With?
Competes with Amazon Prime Video, Hulu, and Netflix
10-K for FY2025, filed Mar 12, 2026We compete for the time and attention of our users across different forms of media, including traditional broadcast, cable, satellite and…View ↗
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