NextUp aims to propel stand-up comedy into the £40 billion subscription video market. VC backed, they provide live gig streaming for comedy fans and preserve live shows for artists via their subscription video-on-demand platform.
The subscription VOD market is fast-growing at 10% YOY. As we have more choice than ever over what to watch, it's broken off into genres e.g. HayU (reality) and Shudder (horror).
NextUp is a destination content source for the est. 5.8m UK comedy fans and beyond. Unlike other genres, comedy costs little to produce, meaning we release content reflecting the true comedy circuit, with original content produced by us that would otherwise be lost.
We monetise our content for fans to enjoy worldwide, sharing revenue with the acts. NextUp streams via web, mobile & TV apps for £59.99p/year with a 7-day free trial. With 3yrs of development and user experience behind us, we've scalable unit economics with an ave. £25 CAC.
We also support acts through free practice space, fronting diversity initiatives and COVID-19 support with virtual gigs and a JustGiving campaign that raised £120k+.
Our share value has increased 27% since 2019 due to amazing progress:
- Increased users to c.5,000
- Launching a podcast and festival
- MRR from subscriptions grew 173% to £25k (YTD EBITDA of -£361k)
- 200+ shows catalogue from 120
- Partnerships inc O2, McDonalds, The Telegraph
We’re raising to cement our UK position whilst upgrading NextUp to grow reach via direct-to-app live streaming. The round is being led by Velocity with a view to position us for a Series A in 2021, and we'd love you to join us on our journey.