Gaia’s post-COVID profitability struggles continue

LOUISVILLE — Streaming video provider Gaia Inc. (Nasdaq: GAIA) added subscribers in the second quarter of 2023, but profitability remains a struggle after a comparatively successful run during the COVID-19 era, when television and web-streaming viewership skyrocketed.

Sales for the most recent period were $19.8 million. That’s “down 4% compared to the year ago quarter, due to the post-COVID subscriber contraction experienced industry-wide during 2022,” Gaia said. 

The company posted a net loss of $1.7 million in the second quarter of 2023. In the same period last year, Gaia had a modest $100,000 profit. 

Gaia added 8,000 members to the Gaia platform in…