Silver Spring’s CuriosityStream CEO Predicts the Future of Video Streaming Services
CuriosityStream’s subscriber count was up 50 percent year over year, totaling 23 million. Much of the growth was due to the international market where revenue more than doubled, and it increased by over 50 percent of the total for the first time.
During the companies fourth quarter and full year earnings call, President & CEO Clint Stinchcomb was asked a question about the changes in the video streaming service industry around the world. According to Stinchcomb, the industry is at the early end of a new full category of services launching, and the window of opportunity is closing for new players.
“I would say as it relates to the U.S., the consumption of SVOD content is still kind of in the early endings, but the window for any new full category F-spot services with the exception of you know the Univision, Televisa, VIX plus is probably closed for the foreseeable future,” stated Stinchcomb.
Stinchcomb still thinks CuritosityStream can grow its market share despite its smaller size but predicts there will be additional consolidation of video streaming services over the long run.
“I think this dynamic will likely create consolidation among some of the largest players. And within that, the absorption of the independent with at least a few million subscribers... which in turn will result in something, in the neighborhood of 8 to 10 large video streaming services that offer the key genres of content... we've seen that with HBO Max and Warner.”
The key to getting people to not drop streaming services and end the feed will be bundling along with other perks virtual or physical services, and it can include free and faster shipping, grocery discounts and more.
"I also think that we'll start to see the emergence of some sticky subscription bundles other than Amazon where video is but one component of a broader consumer offering,” Stinchcomb said.
As far as the international markets are concerned, Stinchcomb sees it as one of the biggest opportunities left in the industry, but companies have to figure out how to get around certain obstacles.
“Internationally... [SVOD] is not quite as mature yet, it’s been difficult for the biggest U S players to move aggressively internationally because of fractured rights issues. But I think... as you look out into the future, certainly Netflix. Prime Warner Brothers, Discovery, Disney, paramount, apple; there will be large players and then it'll be a handful of specialized services focused on categories underneath them, and then they'll just be hundreds and hundreds of ultra-subscale services.”