Key Financial Data
- Total revenue: $320.9 million (-7.5% year-over)
- Streaming revenue: $222.8 million (-4.1%)
- Linear TV revenue: $98.1 million (-14.5%)
- Net income: -$52.6 million (compared to -$30.6 million)
- Read more coverage of Q3 2025 media earnings
If there was one bright spot in Starz’s third quarter (Q3) financial earnings on Thursday, it was this: The company didn’t lose very many subscribers.
Beyond that, Starz didn’t have much to cheer for.
During its first full quarter since its separation from Lionsgate, Starz saw its overall revenue drop to $321 million, down nearly 8 percent when compared to last year. Its financial loss widened to $52.6 million, or 72 percent worse compared to the $30.6 million loss logged during Q3 2024.
In the U.S., Starz added 110,000 streaming subscribers to end the quarter with 12.29 million customers. Another 5 million or so pay for Starz through their cable or satellite provider, with Starz counting 17.46 million American subscribers overall.
In Canada, another 1.74 million customers have access to Starz, a number that increased by 120,000 subscribers after the company was able to resolve a distribution dispute with one of its partners.
The total number of customers paying for access to Starz in North America was 19.2 million, flat compared to Q2 but down by 950,000 customers when compared to last year.
“Starz reported a great quarter both operationally and financially, and we expect to continue our momentum to close out 2025,” Jeffrey Hirsch, the President and CEO of Starz, said in a statement. “It’s been just six months since we became a standalone public company, and we are set to deliver on our post-separation plan of generating new revenue through content licensing and getting more ownership of series on the network at improved economics.”
Stock Price
Starz continues to focus on licensing original content and movies that cater to the interests of adults — during its Lionsgate days, Starz adopted the slogan “We’re all adults here,” and it has largely stuck with that theme.
Hirsch said more fare of that flavor will be coming to Starz through 2026, which will present “a great opportunity to further scale our core audience of women and underrepresented audiences, while also delivering significant value for shareholders.”
Starz will continue to report subscriber numbers in the U.S., but it will stop disclosing how many customers it has in Canada. The change was due to an evolving relationship with Bell Canada, which exited a joint venture between it and Starz and transitioned to a content licensing agreement with the company.
