Stan Reports 28% Increase In Revenue Following Price Rise
Nine Network streaming service Stan who are trying to break into the sports market dominated by archrival Kayo and Foxtel has reported a 28% increase in H1 FY21 revenue during the COVID 19 pandemic.
The streaming service claimed 2.3M subscribers up 20%, what’s not known is how many of these were free subscriptions as the streaming service tried to lure in Rugby Union followers.
Netflix, Disney+, Foxtel and Binge have all reported increased demand during COVID-19 lock downs.
In a release today to the ASX Nine Entertainment said that across the half, Stan sourced content from 18 different distributors.
Particularly popular according to the ASX release were Sky Original Gangs of London, the Bryan Cranston series Your Honour (CBS Showtime), the reboot of Saved By The Bell (NBC Universal), the hit new UK drama series It’s a Sin (All3 Media), and Clarice (MGM).
Bump a Stan Original, which was released on January 1 has quickly become Stan’s most successful show of all time according to the network.
The higher subscriber base going into this half, coupled with the September price increase from $17 to $19 underpinned the reported 28% growth in revenues.
Costs increased by 10% (split fairly equally by content and marketing).
Nine Entertainment claimed that strong subscriber growth of the past 12 months has enabled Stan to expedite previous growth ambitions.
During the half, Stan announced a long-term content deal with NBCU, the launch of Stan Sports as well as an increased commitment to Stan Originals.
There was no mention of claims that Nine Entertainment have looked at trying to sell Stan.