$140 Million in New Funding Powers CuriosityStream’s Future
CuriosityStream, the streaming media service that brings “high-quality documentaries and series across the full spectrum of the factual genre” to the masses, has announced it has secured more funding.
The service, founded by ex-Discovery Channel founder and veteran media executive John Hendricks, has raised $140 million in private placement funding from Stifel Investment Banking, in association with Blum Capital and TimesSquare Capital Management, both new investors to the service.
CuriosityStream plans to use the new funding to to boost spending on its factual programing content, enhance technology advancement in content discovery, and to forward it’s marketing efforts.
CuriosityStream has seen continued growth since it’s launch in 2015, with 1 million paying subscribers at the end of 2018, while its content library grew to more than 2,000 titles. The service projects that there will be more than 3 thousand titles, some of them in 4K quality, online by the end of 2019. It’s current titles include The History of Food, Birth of the Internet, and Destination Mars. The content features contributions from such notables as Sigourney Weaver, who narrates Dream the Future, and Stephen Hawking, who’s featured in the service’s exclusive presentation Stephen Hawking’s Favorite Places.
“This is an important step in a significant effort to connect CuriosityStream with viewers around the world,” said CuriosityStream president and CEO Clint Stinchcomb, in a statement. “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.”
Members of CuriositySteam’s board of directors include Vint Cerf, VP and Chief Internet Evangelist at Google, Actress Glenn Close, and recording artists Don Henley and Wynton Marsalis.
Subscriptions to the service have a base price of $2.99 a month after a 30 day trial period.
Image credit: CuriosityStream/PRNewswire