Pricing Page Teardown - Curiosity Stream's curious pricing
Does Curiosity Stream's pricing have what it takes to thrive in the competitive streaming market? We're looking at their gifting, annual plan discount and their bundling strategy to try and get to the bottom of it.
Curiosity Stream's Curious Pricing
We're taking a look at the pricing strategy of Curiosity Stream, an educational and documentary video platform founded by John Hendricks, the mind behind the Discovery Channel. Curiosity Stream has done an impressive job raising $280 million and amassing 20 million subscribers. However, there's an interesting mistake they're making with their pricing strategy that many companies fall into. Let's jump right into it.
Background of Curiosity Stream
Curiosity Stream was created by John Hendricks, who wanted to continue his passion for sharing educational content within the competitive streaming market. The company quickly gained momentum and became the first publicly traded streaming company focused on factual content. By 2021, CuriosityStream had completed a full rebrand, consolidating its offerings under the Curiosity umbrella, which includes Curiosity stream, Curiosity Channel, and Curiosity Studios.
Reaction to Pricing Page
During the pricing page teardown session, we examined Curiosity Stream's pricing strategy. While we praised the company for its iterative approach and adaptation to market trends, we also pointed out areas where improvements could be made.
One aspect that stood out was the inclusion of corporate subscriptions and gift cards. These options allow businesses to offer Curiosity Stream subscriptions at a discounted rate, opening up avenues for retention and gifting. We highlighted the smartness of this move, as it expands CuriosityStream's market reach and taps into the corporate sector's purchasing power.
Takeaways
Gifting
Curiosity Stream's inclusion of gift cards and corporate subscriptions presents an excellent opportunity to engage with new customers and leverage word-of-mouth recommendations.
Annual Discount
While Curiosity Stream offers annual discounts, we suggest reevaluating their pricing to ensure it aligns better with customers' willingness to pay. Adding context to the savings, such as mentioning the exact dollar amount saved, could enhance the appeal.
Bundling
The positioning of the smart bundle, which provides access to content on multiple screens, might require reconsideration. We suggest experimenting with prompts for upgrades when users attempt to access content on additional screens, similar to Netflix's approach.
Recap
Curiosity Stream's pricing strategy offers several noteworthy elements, such as corporate subscriptions and gift cards, that cater to different customer segments. However, we recommend fine-tuning the annual discount structure and exploring alternative methods for promoting multi-screen access.
By implementing these suggestions, Curiosity Stream has the potential to optimize its pricing strategy, increase profitability, and further solidify its position in the competitive streaming market.
That concludes our analysis of Curiosity Stream's pricing strategy. Stay tuned for more insights in the next episode of Pricing Page Teardown.
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