Starz, the streaming-focused network recently spun off from Lionsgate, showed signs of stabilizing its subscriber base in fourth-quarter results revealed Thursday as it reported positive sequential subscriber growth in the United States.
In its most recent fiscal quarter through Dec. 31, 2025, Starz added 370,000 OTT subscribers to reach 12.66 million streaming customers but lost another 200,000 linear TV subscribers during the fourth quarter.
Starz has attributed the recent growth in OTT subscribers in part to its scripted series lineup, which includes the third season of The Fourth Book of Power: Power And the first season of Spartacus: House of Assyria.
Starz’s US linear subscriber base ended the fourth quarter at 4.97 million customers. Starz recorded no Canadian linear TV subscriptions in the latest quarter. This follows the company’s announcement in November 2025 that it was switching from a joint venture model in Canada to a content licensing agreement with local partner Bell Canada to partially free up capital to produce the original series.
Starz Networks ended the fourth quarter with 17.63 million subscribers, down from 19.2 million in the third quarter, and 19.08 million at the end of the second quarter. Meanwhile, Starz said the restructuring of its Canadian operations allows the company to refocus on the US market, where it recorded sequential growth in OTT subscribers during the last quarter.
In a post-market analyst call, Starz CEO Jeffrey Hirsch announced that the company will no longer disclose subscriber numbers starting next quarter in March 2026. “We believe this decision is in the best interest of our shareholders because it paves the way for achieving the goals we have set,” he added, while Starz will focus on long-term OTT customer, revenue growth and profitability.
Total revenue for the fourth quarter was US$322.8 million, down from the previous year’s US$344.5 million, and sequentially the third quarter revenue line reached US$321 million. OTT revenue fell to $210.3 million during the fourth quarter, versus $239 million a year earlier, while linear and other revenue rose to $112.5 million, compared to $105.5 million in the same period in 2024. Starz narrowed its fourth-quarter net loss to $20.7 million, versus a year-earlier net loss of $31.8 million.
“Just nine months after our separation, we are beginning to see the full impact of operating as an independent company. We exceeded all of our financial guidance in 2025 and expect 2026 to be a positive financial inflection point for the company as we enter the year with a record number of OTT subscribers and a balance sheet that exceeded our expectations for debt reduction,” Jeffrey Hirsch, president and CEO of Starz, said in a previous statement accompanying its latest financial results.
The CEO added, “With a disciplined investment strategy, a more efficient operating model, and one of our strongest programming slate to date, we are poised to drive sustainable OTT revenue growth, expand profitability, and improve free cash flow as we execute against our long-term goals.”
