Starz Entertainment

What Starz Entertainment does

Starz Entertainment Corp (NASDAQ:STRZ) is a publicly traded premium subscription video streaming company headquartered in Englewood, Colorado, that was spun off from Lionsgate in 2025 and operates independently. The company offers a direct-to-consumer streaming service accessible via starz.com and major app store platforms (Apple TV, Roku, Amazon Fire, mobile), targeting individual US consumers seeking on-demand entertainment at $11.99/month standard pricing with a $5/month promotional offer for the first three months. Its core product is differentiated by a proprietary content library anchored by original series including the Power franchise (Power, Power Book II: Ghost, Power Book III: Raising Kanan, Power Book IV: Force), Outlander, BMF, and in-house productions like Fightland, supplemented by a broad licensed movies catalog spanning action, comedy, drama, horror, and documentaries.

The business operates a recurring subscription revenue model across both its OTT streaming platform and legacy linear TV networks, reporting Q1 2026 revenue of $306.9 million (including $211 million in OTT revenue) against 17.6 million total subscribers (12.66 million US OTT subscribers, up 8% year-over-year). While the company reported a Q1 2026 operating loss of $152.8 million following a $139 million restructuring charge tied to exiting its Universal Pay-2 agreement, it generated $73.2 million in operating cash flow and $80.7 million in positive unlevered free cash flow. Management has accelerated its target of reaching 20% Adjusted OIBDA margin to the second half of 2027, one year ahead of prior guidance, with FY2026 unlevered free cash flow projected at $80-120 million to support debt deleveraging.

Strategically, Starz is executing a margin turnaround centered on content cost reduction, in-house production investment, and operational discipline. Recent corporate actions include the March 2026 acquisition of a 10.7% stake by Allen Family Capital (Byron Allen) for $25 million, the divestiture of Lionsgate Play in South and Southeast Asia to regional management (January 2026), and adoption of a poison pill shareholder rights plan. The largest shareholder is MHR Fund Management at approximately 17%, and the company is led by President & CEO Jeffrey Hirsch. Analyst commentary notes Starz trades at a 4x EV/EBITDA multiple with a 24.5% unlevered FCF yield, with projected OIBDA growth from $200M in 2025 to $300M by 2028.

Name

Starz Entertainment

Legal name

Starz Entertainment Corp

Website

https://starz.com

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Starz Entertainment Corp (NASDAQ:STRZ) is a publicly traded premium subscription streaming company spun off from Lionsgate in 2025, serving 17.6 million subscribers with original series like the Power franchise and Outlander plus a broad movie library, monetized via $11.99/month recurring subscriptions across direct and app store channels.

Ownership category

akta.pro rank

Product category

Subscription Video Streaming

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210), Television Broadcasting Stations (516120)

SIC

Television Broadcasting Stations (4833), Cable & Other Pay Television Services (4841)

akta.pro primary industry

Direct-to-Consumer (DTC) Network/Studio Streaming Channels (MPABAHAG)

akta.pro secondary industry

Pay-TV / Premium Window Distribution (MPADAJAH)

Keywords

• Subscription video streaming
• Premium original programming
• Video on demand
• Streaming entertainment platform
• Over-the-top content

Headquarters

HQ city

Englewood

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Subscription Streaming: Starz generates revenue primarily through subscription fees for its streaming service, with both promotional and standard pricing tiers. The company reported Q1 2026 revenue of $306.9 million, with OTT revenue of $211 million.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Starz Entertainment operates a subscription-based premium streaming video service that delivers exclusive original series (including the Power franchise, Outlander, BMF, and their spinoffs) and a multi-genre movie library to consumers on demand across web, mobile, and connected TV devices. The platform offers streaming on up to four devices simultaneously with unlimited HD streaming and downloads, priced at $11.99/month (with a $5/month promotional offer for the first three months). In addition to its direct-to-consumer OTT service, Starz operates linear television networks.

Product overview

Starz Entertainment operates a subscription-based streaming video platform offering on-demand entertainment content. The service features a unified streaming platform with original programming (Starz Originals) and a comprehensive movies library. The core offering includes original series like Power, Outlander, BMF, and their spinoffs, alongside thousands of movies across genres including action, comedy, drama, horror, and documentaries. The platform is accessible via web, mobile, and TV apps with pricing at $5/month for the first 3 months promotional offer.

Differentiator

Problem solved

Functional benefit

Products and services

• Starz Streaming Service Subscription-based premium streaming video service offering original series (Power, Outlander, BMF and spinoffs), movies, and documentaries on demand across phones, tablets, TV, and laptops. Supports up to four simultaneous streams with unlimited HD streaming and downloads. Priced at $11.99/month with a promotional $5/month for the first three months.

Quantifiable outcome

• Projected OIBDA growth from $200M in 2025 to $300M by 2028
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Netflix: Global SVOD leader and the dominant premium streaming service. Direct comparable on subscription video distribution and original content investment, though Netflix operates at vastly greater scale.
• Apple (Apple TV+): Premium SVOD from Apple featuring high-budget originals (e.g., Severance, The Morning Show). Comparable in original-content-led positioning, though funded by Apple's broader ecosystem.
• The Walt Disney Company (Disney+): One of the largest premium SVOD platforms globally, anchored by original and franchise content. Sets the competitive ceiling Starz must differentiate against with non-family programming.
• Amazon (Prime Video / MGM+): Prime Video bundles entertainment streaming with broader Amazon Prime; MGM+ competes more directly with Starz on prestige originals. Closest peer for ad-supported tiers and acquisition-cost dynamics.

Direct peers

• Warner Bros. Discovery (Max): Operates Max, a premium SVOD competing head-to-head with Starz for entertainment subscribers. Highly comparable mix of premium original series (HBO), theatrical films and pay-TV roots.
• Lionsgate: Starz's former parent and a direct content-supply and distribution peer post-spinoff. Operates Starz's former peer streaming platform and continues to license content to Starz under transitional agreements.
• AMC Networks: Mid-sized premium scripted programmer with linear networks (AMC, BBC America) and a streaming offering (AMC+). Closest peer to Starz in scale, content mix (prestige dramas, genre series) and linear-to-streaming transition.
• MGM Holdings: Premium scripted and film content owner now owned by Amazon, with the MGM+ streaming service positioned similarly to Starz. Comparable in library-driven SVOD economics and pay-TV legacy.
• Comcast (Peacock): Peacock is a premium SVOD bundled into Comcast's pay-TV ecosystem. Highly relevant comparison for Starz's bundling economics and the linear-to-streaming transition.
• Paramount Global (Paramount+): Mid-tier premium SVOD with pay-TV and linear heritage analogous to Starz. Competes directly for the same value-conscious streaming subscriber and bundles through pay-TV partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/starz_channel
• YouTubeyoutube.com/user/STARZ
• Facebookfacebook.com/STARZ
• LinkedInlinkedin.com/company/starz
• Instagraminstagram.com/starz

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Starz Entertainment