---
type: entity
entity_type: company
name: Dropout
domain: entertainment
status: active
tracked_by: clay
created: 2026-03-11
key_metrics:
  subscribers: "1M+ (October 2025)"
  ownership: "creator-owned"
  ceo: "Sam Reich"
---

# Dropout

Creator-owned streaming platform focused on comedy content. Reached 1M+ subscribers by October 2025 after near-bankruptcy to profitability turnaround. Led by CEO Sam Reich. Maintains dual-platform strategy with YouTube presence for acquisition and owned platform for monetization.

## Timeline

- **2024-08-01** — Profiled by Variety as part of emerging indie streaming category alongside Nebula and Critical Role
- **2025-10-XX** — Reached 1M+ subscribers milestone

- **2026-03-01** — CVL Economics analysis reveals 1M+ subscribers generating $80-90M revenue with 40-45% EBITDA margins and 40 full-time employees, achieving $3.0-3.3M revenue per employee. Platform maintains stable pricing for 3+ years, grandfathers legacy subscriber rates, encourages password sharing, and distributes profits to all contributors including unsuccessful auditionees. Estimated to have reached 50-67% penetration of total addressable market.
- **2025-10-01** — Crossed 1M paid subscribers (31% YoY growth); launched $129.99/year superfan tier at fan demand; Game Changer S7 premiere reached 1M views in 2 weeks (most-watched episode ever); ARR north of $30M with 40-45% EBITDA margins
- **2025-10-01** — Crossed 1 million subscribers (31% YoY growth). Launched $129.99/year superfan tier in response to fan requests to support platform at higher price point.
- **2025-10-01** — Crossed 1 million subscribers (31% YoY growth). Launched $129.99/year superfan tier in response to fan requests for higher-priced support option. Dimension 20 MSG live show sold out (January 2025). Brennan Lee Mulligan signed 3-year deal while simultaneously participating in Critical Role Campaign 4.
- **2025-10-01** — Crossed 1 million subscribers with 31% YoY growth; launched $129.99/year superfan tier in response to fan requests to support platform
- **2025-10-01** — Crossed 1 million subscribers (31% YoY growth); launched $129.99/year superfan tier originated by fan request
- **2025-10-01** — Crossed 1 million subscribers (31% YoY growth). Launched superfan tier at $129.99/year in response to fan requests for higher-priced support option.
## Relationship to KB

- [[creator-owned-streaming-infrastructure-has-reached-commercial-scale-with-430M-annual-creator-revenue-across-13M-subscribers]]
- [[creator-owned-streaming-uses-dual-platform-strategy-with-free-tier-for-acquisition-and-owned-platform-for-monetization]]
- [[indie-streaming-platforms-emerged-as-category-by-2024-with-convergent-structural-patterns-across-content-verticals]]