Starz Q3 Revenue Grows, Losses Narrow As It Starts To Unlock “Financial Upside Of Increased Ownership” In Slate

Starz Entertainment saw overall and streaming revenue rise for the three months ended in September and pared its losses significantly year-on-year as the company focuses on owned originals and refines its strategy in an evolving DTC landscape.

“Our third-quarter results reflect the continued strength of the business and our focused execution against our four key financial priorities,” said STARZ President and CEO Jeffrey Hirsch. “Our portfolio approach to programming is driving a more durable revenue base, and we are just beginning to unlock the financial upside of increased ownership. We remain confident in our outlook and in our ability to continue delivering against our plan and create long-term value for our shareholders.”

The company has been moving to increased ownership of its slate of shows.

Revenue rose to $322.4 million from $320.9 million. OTT was $287 million of that, up from the year before. Linear revenue dipped to $95.8 million. The numbers beat Wall Street forecasts. The shares were flat after the numbers but have had a major run-up, surging 85% year to date.

Starz, which separated from Lionsgate Studios in 2025, ended the quarter with cash and cash equivalents of $86.8 million and total debt of $687.5 million.

Starz’ third quarter included the finale of Power Book III: Raising Kanan, the premiere of its first owned series Fightland, and Season 2 of Outlander: Blood of my Blood, as well as S.W.A.T. Exiles and hit biopic Michael, which was the best-performing Pay 1 title in Starz history.

The current Q4 slate and beyond includes the premiere of the final season of P-Valley, two new Power Universe series, and another STARZ-owned original — the untitled Black Rodeo series — now in production.

The company earlier in October reached a distribution agreement with Verizon Fios after a dispute and blackout on the service, one of multiple new distribution agreements over the last four months.

Hirsch will host a call with analysts at 5 pm ET.

More to come