Starz reported results for the quarter ended June 30, 2025, with a consolidated revenue of $319.7 million and a net loss of $42.5 million, or a net loss per share of $2.54. Operating loss was $26.9 million, and Adjusted OIBDA was $33.4 million. "In the three months since becoming a standalone public company, we have made significant progress toward achieving our key financial and operating objectives," said Starz President and CEO Jeffrey Hirsch. "Our content strategy continues to resonate with our audience as the subscriber additions from last weekend's 'Outlander: Blood of my Blood' premiere were the third highest for a series premiere in Starz's history.1 Looking ahead, our highly compelling slate, coupled with an improved cost structure puts us on a clear path to achieving our key objectives: returning to revenue growth, improving our margins, and increasing our conversion of Adjusted OIBDA to free cash flow."
Starz ended the quarter with 12.2 million U.S. OTT subscribers, representing a sequential decline of 120,000. Total U.S. subscribers were 17.6 million, a decrease of 410,000 from the prior quarter. These declines were primarily driven by continued pressure on linear subscriber and lower OTT subscriber additions. Including Canada, total North American subscribers were 19.1 million, reflecting a sequential decline of 520,000. Canadian subscribers declined by 110,000 in the quarter due to continued linear declines and lower OTT subscriber additions.
Starz ended the quarter with $300 million outstanding on its Term Loan A credit facility, $325.1 million in senior unsecured notes and $51.6 million in cash. This resulted in total net debt of $573.5 million. On a trailing twelve-month basis, the company's total Adjusted OIBDA Leverage Ratio was 3.2x2. STARZ's $150 million revolving credit facility was undrawn at June 30, 2025.
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