Nine’s SVOD platform Stan has passed the 2 million subscribers mark in what the company is calling a “landmark year” for the service.
While Nine Entertainment Co. FY20 results show the network recorded a net loss of $575 million for FY20, the company revealed that Stan had managed to increase its revenue by 54 per cent to $242.1 million for the year to June.
Growth was attributed to a growing subscriber base – now sitting at 2.2 million – and a $2 price hike, introduced in March 2019.
This meant that on a like-basis, Stan’s EBITDA improved by more than $50 million.
The results show Stan managed to acquire around 500,000 new subscribers for the financial year – up from 1.7 million for FY19.
With Stan having sourced more than 60 first-run exclusives from 17 different distributors, the service’s costs increased to $211.1 million for the year, up from $178.4 million in FY19.
And while SVOD continues to grow in popularity among Australians, Nine has predicted this growth will subside in the coming years.
“Current subscriber momentum is expected to continue at Stan, albeit at a more moderate rate in FY22,” the company said.
“Stan maintains its positive long-term view of market potential, and therefore will continue to invest in incremental content to ensure this momentum is maintained.”
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