STARZ ENTERTAINMENT CORP /CN/ (STRZ) Company Report

Starz reported Q3 2025 total revenue of $321 million and adjusted OIBDA of $22 million.
The company added 110,000 US OTT subscribers in Q3 2025, bringing the total to 12.3 million, and anticipates continued growth in Q4.
Starz reaffirmed its FY 2025 adjusted OIBDA guidance of approximately $200 million and expects to achieve a leverage ratio of approximately 3.1 times by year-end.
A strategic shift in Canada involves moving from a joint venture to a content licensing agreement with Bell Canada, which is expected to generate international licensing revenue and will result in Canadian subscribers no longer being reported from Q4.
The company is actively pursuing content ownership, with its first Starz-owned original "Fightland" in production, and projects content investment to decrease year-over-year in 2026.

Nov 13, 2025, 10:00 PM

STARZ Entertainment Corp. Reports Third Quarter 2025 Results

STRZ

Earnings

Guidance Update

For the third quarter ended September 30, 2025, STARZ Entertainment Corp. reported total revenue of $320.9 million and a net loss of $(52.6) million, or $(3.15) per share.
The company's operating loss was $(34.8) million and Adjusted OIBDA was $21.8 million for the quarter.
As of September 30, 2025, STARZ had 12.29 million U.S. Over-The-Top (OTT) subscribers, a sequential increase of 110,000, while total U.S. subscribers decreased by 130,000 from the prior quarter to 17.46 million due to continued pressure on linear subscribers.
Total North American subscribers increased sequentially by 120,000 to 19.20 million, primarily driven by a 250,000 increase in Canadian subscribers due to the resolution of a carriage dispute.
Management reiterated all previously provided 2025 outlook.

Nov 13, 2025, 9:05 PM

Starz Entertainment Corp. Reports Q3 2025 Financial and Subscriber Results

STRZ

Earnings

Guidance Update

Demand Weakening

Starz Entertainment Corp. reported total revenue of $320.9 million and a net loss of $(52.6) million for the third quarter ended September 30, 2025, resulting in a net loss per share of $(3.15).
The company recorded an operating loss of $(34.8) million and Adjusted OIBDA of $21.8 million for the quarter.
U.S. Over-The-Top (OTT) subscribers reached 12.29 million as of September 30, 2025, representing a sequential increase of 110,000 and year-to-date growth of 520,000. Total North American subscribers increased sequentially by 120,000 to 19.2 million, partly due to a 250,000 increase in Canadian subscribers following the resolution of a carriage dispute.
Starz ended the quarter with total net debt of $588.1 million and a total Adjusted OIBDA Leverage Ratio of 3.4x for the trailing twelve-month period ended September 30, 2025.
Management reiterated all previously provided 2025 outlook.