Observed Signal · Oct 29, 2026 · Earnings Report · Source: PR Newswire: Technology News · Impact: 4/5 · Sentiment: Positive
STARZ Reports Q3 2026 Results, Reaffirms Targets
STARZ Entertainment Corp. reported its third quarter 2026 financial results, showing sequential and year-over-year growth in OTT and total revenue. Total revenue reached $322.4 million, with OTT revenue at $226.6 million. Adjusted OIBDA more than doubled year-over-year to $44.2 million, and the company reaffirmed all 2026 and 2027 targets, including positive OTT revenue growth, mid-single-digit Adjusted OIBDA growth, and unlevered free cash flow of $100-120 million. The company also reiterated its 20% Adjusted OIBDA margin outlook for the second half of 2027. STARZ continues to execute its portfolio approach to programming and remains confident in its long-term value creation.
Earnings report from a major streaming platform reaffirming growth and profitability targets, reflecting industry trends in OTT and content monetization.
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Key Takeaways & Evidence Grounding
- STARZ reported Q3 2026 total revenue of $322.4 million, up from $320.9 million year-over-year.
- Adjusted OIBDA more than doubled to $44.2 million in Q3 2026 from $21.8 million in Q3 2025.
- Company reiterates 2026 targets: positive OTT revenue growth, mid-single-digit Adjusted OIBDA growth, unlevered free cash flow of $100-120 million.
- STARZ reaffirms 20% Adjusted OIBDA margin outlook for H2 2027.
- As of September 30, 2026, STARZ had cash of $86.8 million and total debt of $687.5 million.
Connected Companies & Entities
1 Entity mapped“Mentions the separation of Lionsgate's Studios Business and STARZ Business.”
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Starz Q3 Revenue Up, Loss Narrows as Streaming Offsets Linear
Starz reported Q3 financial results with revenue of $322.4 million, up 0.5% year-over-year, as streaming revenue grew 1.7% to $226.6 million, offsetting declines in traditional TV distribution. The net loss narrowed to $34.8 million from $52.6 million, beating Wall Street expectations. Streaming gains were partly due to strong performance of Lionsgate's film 'Michael,' the most successful Pay-1 release in Starz history. Additionally, regulatory filings revealed that media mogul Byron Allen sold his entire 10.7% stake in Starz, netting a profit of around $20 million after the company adopted a poison pill defense. CEO Jeffrey Hirsch emphasized a focus on content ownership and distribution partnerships while remaining selective on M&A.
10-Q Financial Filing Analysis for STARZ (2026-10-29)
Starz Entertainment Corp. reported its third-quarter 2026 financial results for the period ended September 30, 2026, delivering consolidated revenue of $322.4 million, up 0.5% year-over-year. Operating loss improved to $(21.2) million compared to $(34.8) million in Q3 2025, driven by lower programming amortization and a favorable net reduction in restructuring and contract termination liabilities. Over-the-top (OTT) revenue rose 1.7% to $226.6 million, supported by subscription price increases, while linear subscription revenue continued its secular decline, falling 2.3% to $95.8 million. Net loss for the quarter reached $(34.8) million, or $(2.02) per diluted share, an improvement from $(52.6) million in the prior-year period. For the nine-month period, revenue fell 3.5% to $937.2 million, resulting in a net loss of $(389.1) million due to $282.0 million in restructuring and other charges, including $136.1 million in contract termination fees for live-action films under a post-pay-one output licensing agreement and $126.2 million in content impairments. Following its May 2025 separation from Lionsgate, Starz amended its credit facility in August 2026, upsizing Term Loan A to $367.0 million to maintain liquidity, ending Q3 with $86.8 million in cash.
10-Q Financial Filing Analysis for Lionsgate (2026-10-29)
Starz Entertainment Corp. (formerly the Media Networks segment of Lionsgate prior to the May 2025 spin-off) reported its financial results for the third quarter ended September 30, 2026. Consolidated revenue reached $322.4 million, up 0.5% year-over-year, supported by a 1.7% expansion in OTT streaming revenue to $226.6 million, which offset a 2.3% decline in linear subscription revenues. The company recorded an operating loss of $21.2 million and a net loss of $34.8 million ($2.02 per share), marking an improvement from a net loss of $52.6 million in Q3 2025. Profitability benefited from a $13.3 million reduction in restructuring costs (including an $11.1 million downward revision to post-pay-one film contract termination liabilities) and lower programming amortization, while depreciation and amortization rose to $67.4 million due to shortening the useful life of traditional MVPD affiliate relationship intangibles.
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