CuriosityStream Takes $140M in Funding, Deepens Content Library
Streaming service CuriosityStream announced it has taken in $140 million in new funding. The service is the brainchild of John Hendricks, founder of Discovery Communications (pictured above), who has personally invested $100 million in it. This new funding round saw participation from Bum Capital Ventures and TimesSquare Capital Management, with Stifel Investment Banking acting as the placement agent.
CuriosityStream is known for its library of science, nature, history, and technology documentary features and series. The service currently has over 2,000 titles, which will grow to over 3,000 by the end of this year thanks to the new funding.
The company plans to improve its content discovery system and promote the service abroad. It will also increase the number of titles it shoots in 4K. The service currently has 1 million paying customers. Subscriptions go for $19.99 per year or $2.99 per month, and include a 30-day trial.
"This is an important step in a significant effort to connect CuriosityStream with viewers around the world," says Clint Stinchcomb, CuriosityStream's president and CEO. "Hundreds of millions of people globally are migrating to on-demand television and entertainment. We are in the middle of a seismic shift in consumer behavior, and this funding will accelerate the dynamic growth we achieved in the last 12 months."
CuriosityStream debuted in March 2015.
Providing production and monetization tools to Twitch and YouTube live streamers, StreamElements has grown a 200,000 member user base.