Gaia’s video service sees nearly double-digit membership growth

LOUISVILLE — Streaming video provider Gaia Inc. (Nasdaq: GAIA) saw its year-over-year sales and membership totals grow in the first quarter of 2024, a period during which the company also trimmed its net losses. 

Gaia posted revenues of $21.7 million in the first quarter of this year, up from $19.6 million during the same period in 2023. 

Over that time, the streamer boosted its member count 9% to 839,000.

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The company’s net loss in the first quarter of 2024 was $1 million, an improvement over the first quarter net loss of $1.3 million last year. 

“In the first quarter we experienced a 10% decrease in customer acquisition costs,” Gaia chairman Jirka Rysavy said in a prepared statement. “We continued to see our member growth rate increase, as we doubled our net member addition to 33,000 during the first quarter up from 16,000 in the fourth quarter, finishing with 839,000 members.”