Starz Narrows Net Loss to $34.8 Million as Streaming Offsets Linear Declines
The third quarter results were boosted by higher pricing as well as “Power Book III: Raising Kanan,” “Fightland,” “Outlander: Blood of My Blood” Season 2, “S.W.A.T. Exiles” and "Michael" The post Starz Narrows Net Loss to $34.8 Million as Streaming Offsets Linear Declines appeared first on TheWrap .
Starz, the pay-TV network, reported a net loss of $34.8 million in the third quarter, marking a significant improvement from a loss of $2.02 per share on $319.5 million revenue a year earlier. Revenue grew 0.5% to $322.4 million, surpassing Wall Street's forecast of $319.5 million on a $2.96 per share loss. Streaming services were the driving force behind the growth, with revenue increasing by 1.7% to $226.6 million.
The finale of "Power Book III: Raising Kanan," the premiere of the original series "Fightland," and several other Starz productions contributed to this success. CEO Jeff Hirsch attributed the positive performance to the growing strength of Starz's portfolio programming and noted that the company is "just beginning to unlock the financial upside of increased ownership."
Looking ahead, Starz anticipates subscriber growth and engagement in the fourth quarter, as well as the debut of "Power: Origins" and "Black Rodeo" in 2027. The company expects continued growth in OTT revenue, expanded margins, and free cash flow, while reducing leverage as it moves towards consolidation and bundling in the industry.
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