Starz Reports Q3 2026 Revenue Growth Driven by OTT Expansion and Improved Efficiencies
Starz (STRZ) reported third-quarter results for 2026, highlighted by total revenue of $322.4 million and a significant increase in adjusted OIBDA to $44.2 million, more than doubling year-over-year. The growth was primarily driven by over-the-top (OTT) revenue, which reached $226.6 million due to price increases implemented earlier in the year and successful subscriber renewals. Despite an operating loss of $21.2 million caused by high depreciation and content rationalization costs, the company demonstrated strong cash flow generation with unlevered free cash flow at $18.8 million for the quarter. Management reaffirmed its full-year 2026 guidance and outlined long-term targets for 2027, including a goal of a 20% adjusted OIBDA margin and a leverage ratio of 2.5x or lower.
Topics: Adjusted OIBDA Free Cash Flow Net Loss Per Share OTT Revenue Revenue Growth