Nov 17, 2022 - Economy

Daily Wire says streaming service has surpassed 1M subscribers

Candace Owens and American commentator Ben Shapiro on set during a taping of "Candace" on March 17, 2021 in Nashville, Tennessee. (Photo by Jason Kempin/Getty Images

The Daily Wire, a conservative media and entertainment company, says it now has more than 1 million paid subscribers to its streaming service DailyWire+.

Why it matters: The company has been positioning DailyWire+ as a conservative alternative to mainstream entertainment companies, particularly Disney.

  • In March, Daily Wire execs said the company was planning a significant push into kids entertainment in response to Florida's Parental Rights in Education bill, known as the "Don't Say Gay" bill.
  • The company said then it would invest "a minimum of $100 million" in kids content for the service over the next three years.

Details: In remarks shared Thursday during a company-wide town hall obtained by Axios, Daily Wire co-CEO Jeremy Boreing outlined aspirations to grow its subscriber base to 10 million.

  • “It took us five years to get our first 100,000 active subscribers. But we doubled down, reached higher, pushed harder and, just two-and-a-half years later, we’ve 10Xed that number,” Boreing said.
  • “To succeed in our effort to create a true news and entertainment alternative for the millions of Americans tired of the hegemony of the woke giants, we have to grow 10X, and then we have to grow 10X again," he added.
  • DailyWire+ has three paid tiers, including an $8 monthly tier (billed annually) that gives consumers access to all content, another $13 monthly tier (billed annually) that allows subscribers to engage with Daily Wire hosts and writers and a third that is the same as the second but billed monthly.

Between the lines: In addition to those numbers, Boreing also announced a slate of upcoming projects in development, including the exclusive option to develop and produce an adaptation of Ayn Rand’s “Atlas Shrugged."

By the numbers: The company said in a statement that it's projecting nearly $200 million in revenue by the end of the year.

  • Boreing told Axios earlier this year that it brought in $100 million in revenue in 2021.
  • The Daily Wire's chief financial officer reaffirmed the subscriber and revenue statistics to Axios in an email.

What to watch: The company is also looking to build out more consumer products that cater to conservative audiences.

  • Earlier this year, Daily Wire launched its own razor brand to compete with Harry’s razors after it said Harry’s pulled its ads from the Daily Wire, citing its viewpoints.
  • In the town hall Thursday, Boreing said Daily Wire has sold over 100,000 razor subscriptions.
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