New York — CuriosityStream says its content licensing business is on track to become its largest revenue driver next year as demand grows for video libraries used in artificial intelligence training and media distribution.
The streaming and documentary content company told investors that licensing revenue could exceed subscription income in 2026, marking a major shift in its business model.
Executives highlighted the change during the company’s latest earnings update, noting that demand for structured video data from technology firms and media partners is accelerating.
CuriosityStream reported fourth-quarter revenue of about $19.2 million, a 36% increase compared with the same period a year earlier.
For the full year, revenue reached roughly $71.7 million in 2025, up about 40% from the previous year as the company expanded both its streaming platform and its licensing deals.
Adjusted EBITDA also turned positive in recent quarters, signaling improving profitability as the company tightens expenses and grows higher-margin licensing revenue.
One of the fastest-growing parts of CuriosityStream’s business is licensing video content for AI training datasets.
The company maintains a massive library of factual programming and raw footage that can be packaged with detailed metadata and delivered to technology firms building artificial intelligence models.
In 2025, licensing revenue climbed to about $33.2 million, nearly matching the roughly $37 million generated from subscriptions.
Management expects licensing deals to continue expanding as both media companies and AI developers seek high-quality, rights-cleared video content.
Even as licensing grows, CuriosityStream says its subscription streaming service remains a core part of the company’s strategy.
Executives expect subscription revenue to grow at a slower pace in 2026 through new pricing tiers and expanded distribution partnerships.
The service currently distributes documentary and factual programming through its own platform and through partnerships with streaming platforms and television providers worldwide.
CuriosityStream also reported a strong balance sheet with tens of millions of dollars in cash and no outstanding debt, giving the company flexibility as it invests in new content and licensing partnerships.
Leadership says the company plans to expand its network of licensing partners significantly over the next two years as AI development accelerates across the technology sector.
If the trend continues, CuriosityStream could soon operate less like a traditional streaming service and more like a data supplier for the AI economy, turning its vast library of documentary footage into a key digital asset for machine-learning developers.
