Starz Entertainment Earnings Call Transcripts
Fiscal Year 2026
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Achieved record OTT subscriber growth and exceeded 2025 financial targets, with strong Q4 results and a robust original content slate driving revenue and margin improvements. 2026 guidance projects continued cash flow growth, margin expansion, and further de-levering.
Fiscal Year 2025
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Strong quarter with sequential revenue and subscriber growth, affirming $200M adjusted OIBDA guidance. Strategic shift to content ownership and licensing, reduced content spend, and improved leverage position set up for margin expansion and free cash flow growth.
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Revenue and subscribers declined sequentially due to BMF underperformance, but strong results from Blood of My Blood and a robust upcoming slate support expectations for renewed growth. Cost discipline and increased content ownership underpin a 20% margin target by 2028.
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Separation from Lionsgate completed, with $1.4B revenue and $200M adjusted EBITDA for the year. Subscriber growth was driven by original content, while revenue declined year-over-year due to a strike-impacted slate. Focus remains on margin expansion, deleveraging, and building owned IP.