Streaming service financial model, built free.
A three-statement Excel model for a video streaming service (SVOD and AVOD), built from your own figures and checked to balance.
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- Usually ready within the hour
We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more
Sells paid memberships to an on-demand video service — often with an ad-supported tier and partner bundles — and spends heavily on original and licensed content that is capitalised and amortised on an accelerated viewing curve.
In short
- 01
Three linked statements
Income statement, balance sheet and cash flow, linked in every period.
- 02
Valued two ways
Discounted cash flow and trading multiples, side by side.
- 03
Monthly to annual
Monthly, quarterly, half-yearly or annual periods, for up to 30 years.
- 04
Checked every period
A Checks sheet shows the balance sheet balances and the cash reconciles.
The sample, as Excel draws it.
Built by the same system and checks as yours: its structure and its inputs, ready for your own figures.
The sample describes no real business. Yours is calibrated to your own figures, so its results are your business’s.
How the model works for a streaming service.
- How it earns revenue3 formulasRecurring revenue and ARR · All product plansSubscription revenueOpening ARRClosing ARRshare of the yearRecurring revenue and ARR · All product plansNew customer ARRNew customersfrom new customers and sales and marketingARR per new customerRecurring revenue and ARR · All product plansNet expansion ARRPrice increase on the installed baseUpsell and cross-sell (net of contraction)
- What drives its costs3 formulasCost of revenue · All product plansCost of revenueHosting and infrastructureCustomer support and successFixed platform and support overheadNew customers and sales and marketing · All product plansSales and marketingCustomer acquisition spend (new logos)Account management and renewalsNew customers and sales and marketing · All product plansCustomer acquisition spend (new logos)New customersCustomer acquisition cost (CAC)
- What it invests in3 formulasCorporate fixed assetsCapital expenditureRevenuefrom statementsCapex as % of revenueAdditional planned capexCorporate fixed assetsDepreciationDepreciation of the opening asset baseDepreciation of new capexCorporate fixed assetsClosing net book valueOpening net book valueCapital expenditureDepreciation
- How it is funded3 formulasDebtRepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweepDebtClosing balanceOpening balanceDrawdownsRepaymentsDebtInterest expenseOpening balanceAll-in interest rateshare of the year
- How profit becomes cash3 formulasBillings and deferred revenue · All product plansClosing deferred revenueClosing ARRfrom recurring revenue and ARRShare of ARR billed in advanceBilling term invoiced in advanceBillings and deferred revenue · All product plansBillingsSubscription revenue (recurring revenue and arr)from recurring revenue and arrClosing deferred revenueOpening deferred revenueContent spend and content obligations · Across the businessLicensed content obligationsAnnual content cash spendLicensed content (% of content spend)Months of licensed content spend owed at period end
21 parts, each one tested.
Every part is a tested building block with its own checks: yours is put together from the ones your business needs.
- Exchange rate (US dollar)Exchange rate by financial year
- Operating expensesHeadcount build by function
- Corporate costsFixed cost base indexed to CPI
- Working capitalFull working capital
- Income taxCorporate rate with tax losses
- Corporate fixed assetsStraight-line over remaining life
- DebtAmortising term loan
- Equity raisingDistribution reinvestment plan
- Discounted cash flow valuationDCF on free cash flow to the firm
- Multiples valuationEV / EBITDA multiple
- Content spend and content obligationsContent cash spend budgetCash spent on original and licensed content, additions to the content asset, and licensed-content obligations owed for titles already available.
- Content asset and amortisationCash spend to amortisation ratioThe capitalised content library and its amortisation into cost of revenue, on an accelerated viewing pattern.
- LeasesLease register
- R&D and capitalised developmentGross R&D × capitalisation rate
- Headcount plan by functionHiring plan by function
- CPI forecastCPI glide path
- New customers and sales and marketingNew customers per period × CAC
- Customer base and churnConstant churn rate
- Recurring revenue and ARRARR bridge on ARPA with price increases and net expansion
- Billings and deferred revenueBilled in advance (billing mix) with deferred revenue
- Cost of revenueCost per customer plus fixed platform cost
The numbers it tracks.
- 01paid memberships
- 02net adds
- 03churn
- 04average revenue per membership
- 05content cash spend
- 06content amortisation
- 07cash spend to amortisation ratio
- 08operating margin
- 09free cash flow
What it is used for.
- Operating forecastGuide · Financial projections
- Budget and rolling forecastGuide · Cash flow forecast
- Equity capital raisingGuide · Startup financial model
- ValuationGuide · DCF valuation model
- Scenarios and sensitivities
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Looking for a streaming service financial model template? Ours arrives built for your business, with your figures in it.
See a finished model, sheet by sheetThe sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.