Stan has reached 1.7 million active subscribers as the streaming platform posts a revenue increase of 62% for the year to June.
Nine’s 2019 results show Stan's revenue at $157.1 million, up from $96.8 million last year. EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 56%, with the company posting an earning loss of $21.3 million.
However, Nine says Stan had positive earnings in the second half.
Nine, which took full control of Stan following its merger with Fairfax, says a $2 price increase in March, coupled with growing subscribers, helped increase bring Stan's first EBITDA positive result in the second half.
"On the back of the increasing subscriber numbers, and the recent price increase, Stan expects to move strongly into profitability in FY20," says Nine.
The news comes just days after Disney+ announced it will launch in November across Australia. Disney’s entrance in the streaming battle puts pressure on Stan, which signed a deal with Disney for access to content from its key brands such as Walt Disney, Pixar and Marvel, all of which will become available on Disney+. Yesterday Stan announced an exclusive deal with Paramount Pictures.
The 2019 Stan numbers:
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