Gaia(US:GAIA)2020-11-10 23:47Business Overview - Gaia is a global video subscription service (SVOD) priced at $11.99/month, offering niche channels with over 8,000 original programs and curated videos[2] - The company estimates its addressable market to be 26 million households, representing 7% of households willing to pay a subscription and interested in at least one Gaia topic[4] International Expansion - Gaia has international rights for 90% of its content[6] - The company is expanding by adding languages and is currently live in Spanish, German, and French[6] - International members currently make up 25% of the member base, with projections of 50% in 4 years and 60-65% in 8 years[6] Content and Partnerships - Over 80% of viewership is on Gaia original content, produced in-house at a cost of $20,000 per hour, significantly lower than Netflix's $10+ million[7] - Strategic partnerships with Roku, Amazon, Xfinity, and Windstream drive brand awareness and reach[7] Financial Performance & Metrics - As of September 30, 2020, Gaia had 697,300 members[15] - In Q3 2020, the company achieved EBITDA profitability of 19.2% excluding a $6.1 million gain on the sale of real estate[20] - The company has seen increased gross profit per employee from $270,000 in 2018 to $445,000 in 2020[18] - The company's estimated value of member base is $209.2 million, based on 697,300 members and a lifetime value of $300 per member[21]