What happened with STRZ today?
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Starz Entertainment Corp.’s main service, STARZ, gives viewers access to original series and recent and library movies without advertising. Streaming subscriptions generate most revenue, with traditional television distribution providing a smaller share. Viewers pay recurring fees through the STARZ App, its website or partners such as Amazon; cable, satellite and streaming distributors also pay Starz under agreements generally tied to subscriber counts or other measures.
Starz focuses its original programming on women and audiences underserved by premium television, with franchises including “Outlander” and “Power.” It commissions originals from studios and production companies and licenses much of its programming from outside suppliers. Agreements with New Lionsgate and Universal give it exclusive access to covered theatrical movies during specified viewing windows—not permanent rights to show those films.
The business depends on programming that persuades viewers to subscribe and stay, and on distributors continuing to carry its services on workable terms. A few major distributors supply a substantial share of revenue, with Amazon particularly important. Starz must commit money to acquiring, producing and marketing content before it knows how audiences will respond, while subscription income arrives over time.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Watch Warner Bros. Discovery's HBO and Max, which also compete with STARZ for premium-streaming viewers but are missing from this list.
Starz pays Lionsgate Studios for theatrical films it can show exclusively during agreed periods, plus library programming, under multiyear deals. Watch Lionsgate's U.S. box-office results: they help set Starz's payments for covered films, subject to per-film maximums and an annual film-count cap.
Netflix competes directly with Starz for viewers who pay to watch films and series, and for the rights to programming. Its monthly membership revenue is the line to watch for the rival subscription business, rather than revenue from selling content to Starz.
Comcast sits on both sides of Starz's business: it supplies Universal films and carries Starz subscriptions to video customers, while Peacock competes for streaming viewers.
Disney competes with Starz for streaming subscribers while Starz pays it for Twentieth Century Fox/Disney library films. Watch those library rights: as disclosed in February 2026, Starz's agreed showing periods extend through at least 2026.
Starz depends heavily on Amazon to sell its subscriptions, even as Amazon's Prime Video competes for viewers: Amazon and its subsidiaries accounted for 29% of Starz revenue in the nine months ended December 31, 2025. Watch the terms for carrying Starz, since unfavorable renewals could hurt subscription growth and revenue.
Viewers leaving traditional pay TV shrink both EchoStar's DISH subscription base and Starz's traditional-TV audience, since DISH sells channel packages that carry Starz. Watch DISH TV cancellations and moves to smaller packages for signs of pressure on Starz's traditional subscription revenue.
Starz pays Sony for library programming that helps fill its subscription service, rather than relying on Sony for newly released films under this agreement. As disclosed in February 2026, the significant library agreement gives Starz showing periods extending through at least 2027.
NetFlix Inc earningsNFLX
Netflix's membership revenue shows whether this rival for paid viewers and programming rights is expanding or slowing its subscription business.
Watch whether Netflix's membership revenue grows or slows. Continued growth would show that a strong rival for viewers is expanding its subscription business; slower growth would mean less evidence that this rival's pull is increasing, but it would not show that viewers are switching to Starz.
Starz Entertainment Corp. earningsThis company
Starz needs streaming subscriptions to offset its shrinking traditional TV business, and this report will show whether subscription growth is bringing in matching revenue.
Compare changes in U.S. OTT subscribers with OTT revenue, then compare linear subscribers with linear and other revenue. If OTT revenue keeps pace with subscriber growth while linear subscribers and revenue decline more slowly, streaming is replacing some of the lost business; if OTT subscribers grow but revenue lags while linear revenue keeps falling, streaming is not making up the difference.
EchoStar Corporation earningsECHO
EchoStar's report will show whether DISH customers are continuing to cancel traditional TV or move to smaller packages, changes that matter to Starz's traditional-TV subscriptions.
Watch whether DISH TV cancellations accelerate and whether more customers move to smaller packages. Fewer cancellations and less package downgrading would suggest that the traditional-TV route carrying Starz is stabilizing; increases in both would mean more households are leaving or reducing that route, putting greater pressure on Starz's traditional-TV subscriptions.
Lionsgate Studios Corp. earningsLION
Lionsgate's U.S. box-office results help determine what Starz pays under its deal for some theatrical films, subject to per-film and annual caps.
Read Lionsgate's U.S. box-office results alongside the payment terms for Starz's covered films. Stronger box office can mean higher payments for those films, within the per-film and annual caps; weaker box office can mean less pressure from those costs, but does not show whether Starz viewers would want the films. The report speaks to this part of Starz's content costs, not to demand for Starz subscriptions.
