Curiosity Stream Stock Rises In Market Debut.
In August, the corporate in agreement to travel public through a merger with blank check company computer code Acquisition cluster. The trend of blank check corporations, or special purpose acquisition firms (SPAC), has het once more within the media area this year.
CuriosityStream’s stock is currently mercantilism on the data system exchange below ticker image CURI. As of 9:35 a.m. ET, it absolutely was up fourteen.6 p.c at $11.57.
CuriosityStream has aforementioned it's around thirteen million subscribers in additional than one hundred seventy-five countries. Its service is priced at $2.99 per month or $19.99 a year and is additionally offered bundled through such pay-TV operators as Altice USA.
Founder and chairman Hendricks in an exceedingly recent capitalist presentation spoke of the “unstoppable demand for the patron to finally get management of their viewing options” and also the “unstoppable revolution” brought on by Netflix and different streamers. “We're about to participate because the factual leader,” he said.
“We don't see our role as a distinct segment service in any manner, however, what we're addressing is that the full factual class, the manner ESPN addresses the complete sports class. And by addressing the complete class, you've got a way larger future than if you address the niche sort of a golf channel or a lawn tennis channel compared to ESPN.”
Sanford C. Bernstein analyst Todd Juenger in an exceedingly recent report known as CuriosityStream "a rare chance for public market investors to have shares in an exceeding video streaming pure-play, aside from Netflix." He conjointly represented it as "a new venture re-born for the longer term era with a commitment to remain faithful the complete and mission of high-quality factual programming, in an exceedingly SVOD business model with no gift conflicts."
Hendricks aforementioned concerning the IPO: "We square measure excited to become the primary in public listed streaming media company centred on delivering factual content. As a public company with new money funding and access to the general public capital markets, we have a tendency to square measure poised to dramatically accelerate our growth plans."