Stan now boasts more than 2.5 million ‘active’ subscribers, according to Nine Entertainment’s latest filing on the ASX.
This is slight increase on six months ago, when Nine reported the streaming platform had ‘approximately’ 2.5 million active subscribers.
This time last year, the local streaming platform reported it had ‘approximately’ 2.4 million. In its financial filing on Thursday, Nine said it was a 6% increase year-on-year.
Stan launched its separate subscription offering, Stan Sport, in February 2021, reporting soon after that it launched with 250,000 active subscribers.
For the financial year just gone (July 1, 2021 to June 30, 2022), Stan had revenue of $381.2 million, a 22% increase from the previous financial year’s $311.8 million and up significantly from the 2020 financial year’s $211.1 million.
Costs for the main platform were $277.7 million, an increase of 16% from FY21’s $239.3 million and up from FY20’s $211.1 million.
Stan Sport, meanwhile, had costs of $75 million in its first full financial year in operation. Its costs in FY21 were $33 million.
Total costs for Stan as a business unit were thus up 30% in total, from $272.3 million in FY21 to $352.7 million.
Earnings before interest, tax, depreciation and amortisation (EBITDA) were in turn down 28% from $39.5 million last year to $28.5 million.
Nine said the increase in costs reflected its decision to ramp up output deals with the likes of NBCU and Starz/ Lionsgate, as well as the increased roll out of Stan Originals.
In FY23, the platform is expecting to further expand its Originals commitment, with 20 currently slated for release.
CEO of Nine Entertainment, Mike Sneesby – who was previously the CEO of Stan – said: “At Stan, we have continued to grow ARPU [average revenue per user] and revenues, and have remained clearly profitable, and cash-flow positive, notwithstanding key investments in Sport, Events and Original content.”
In other recent local streaming news, Foxtel’s Binge had 1.263 million subscribers in its most recent report, 1.192 million of whom were paying subscribers.
Foxtel’s sport streaming service, Kayo, had 1.312 million, 1.293 million of whom pay.