Overview
- Starz reported a third-quarter net loss of $52.6 million on revenue of about $321 million, missing earnings expectations with a $3.15 loss per share.
- Streaming revenue reached $222.8 million versus $232.2 million a year earlier, while linear and other revenue declined to $98.1 million from $114.7 million.
- Total North American subscribers stood at roughly 19.2 million, with U.S. subscribers down 130,000 to 17.5 million and U.S. OTT up 110,000 to 12.3 million.
- Starz will convert its Canadian joint venture with Bell into a content licensing arrangement, with Bell assuming operations and Starz ceasing Canadian subscriber reporting next quarter.
- Management emphasized content licensing, greater ownership of series, and co-commissions such as Fightland, reaffirming a target of about $200 million in adjusted OIBDA by year-end and projecting the Bell deal to be modestly accretive to 2026 cash flow and margins.