Here are 1-2 brief analogies for Starz Entertainment:

• Starz is like an **HBO or Showtime for premium television and movie content.**
• Starz is like a **Netflix focused on a curated library of original series and premium films.**

• Premium Television Channels: Operated a portfolio of subscription-based premium cable and satellite television channels, including Starz and Encore, delivering movies and original series.
• Streaming Services: Provided direct-to-consumer over-the-top streaming access to its premium content library via the Starz app.

Starz Entertainment (symbol: STRZ), when it operated as a standalone public company, primarily sold its premium cable channels and on-demand content to other companies.

Its major customers were Multi-channel Video Programming Distributors (MVPDs) that licensed and distributed Starz content to their subscribers. While Starz has since been acquired by Lionsgate (LGF.A, LGF.B) and the STRZ symbol is no longer active, the following were among its key customers at the time:

• Comcast Corporation (NASDAQ: CMCSA)
• Charter Communications, Inc. (NASDAQ: CHTR)
• AT&T Inc. (NYSE: T) (which owned DirecTV for a period)
• Verizon Communications Inc. (NYSE: VZ)
• DISH Network Corporation (NASDAQ: DISH)
• Cox Communications (private company)

• Sony Corporation (Symbol: SONY)
• The Walt Disney Company (Symbol: DIS)

Jeffrey A. Hirsch President & CEO

Jeffrey A. Hirsch is the President and CEO of Starz, shaping the company's business and programming strategy. He joined Starz in July 2015 as President of Global Marketing and Product Development, was promoted to COO in 2016, and has led the business as President and CEO since September 2019. Under his leadership, Starz has achieved a profitable transition to digital, with approximately 70% of its revenue now driven by its digital footprint. He played a key role in integrating Starz into Lionsgate following its acquisition in December 2016 and in identifying opportunities for their combined OTT offerings. Prior to Starz, Hirsch served as Executive Vice President and Chief Marketing Officer, Residential Services at Time Warner Cable, where he had a 15-year career in senior executive roles. He was involved in strategic product development, including the Time Warner Cable iPad app, and served as President for residential services in key regions. His earlier experience includes roles at NYNEX Corporation in product bundling and McCann-Erickson in advertising. Time Warner Cable was acquired by Comcast in 2015. Hirsch was also CEO of Hirsch Holdings and editor-in-chief of the Stock Trader's Almanac.

Scott Macdonald Chief Financial Officer

Scott Macdonald serves as the Chief Financial Officer for Starz, a role he assumed in July 2012. He is responsible for all financial planning and analysis, accounting, internal financial reporting, treasury operations, and facility operations for the company. Macdonald joined Starz Media in 2006 as Senior Vice President, Finance and Accounting, and later served as Executive Vice President, Finance, Accounting, and Treasurer for Starz, LLC and Starz Entertainment. With over 30 years of experience in the cable and satellite television industry, his prior roles include Senior Vice President and Chief Accounting Officer for Adelphia Communications Corporation, Senior Vice President and Corporate Controller at AT&T Broadband, and Vice President and Controller at PRIMESTAR, Inc. He began his career at the accounting firm of KPMG. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the Colorado Society of Certified Public Accountants.

Alison Hoffman President, STARZ Networks

Alison Hoffman is the President of STARZ Networks. In this role, she oversees domestic network operations, including marketing and promotion, product development and distribution, analytics, and program operations. She previously served as Chief Marketing Officer for Starz, where she was responsible for brand and content marketing, driving acquisition for the STARZ app, and delivering data-driven insights. Hoffman was a key executive in the launch of the STARZ app and manages the network's direct-to-consumer business. She joined Starz in 2012 after serving as Vice President of Creative and Brand Strategy at AMC Networks, where she played a key role in award-winning marketing campaigns for series like "Mad Men," "Breaking Bad," and "The Walking Dead."

Kathryn Busby President, Original Programming

Kathryn Busby is the President of Original Programming at Starz Entertainment, a position she was appointed to in November 2021. She is responsible for leading the programming and development team and fulfilling the company's commitment to narratives by, about, and for women and underrepresented audiences. Busby brings over 25 years of experience in developing and producing content across television, film, and new media. Before joining Starz, she was Executive Vice President of Sony's TriStar Television, where she developed and oversaw premium projects. Her previous roles include Senior Vice President of development at Sony Pictures Television, Vice President of original programming for TBS, Senior Vice President of production at New Line Cinema (where she was an executive producer on "Sex and the City"), and Senior Vice President and Head of Development at The Carsey-Werner Company. She began her television career as Director of Comedy Development at Universal Television. Busby is also an award-winning screenwriter, director, and producer. She is the Chair of the Board of BAFTA Los Angeles and a graduate of Harvard University.

Jamila Daniel Chief Diversity Officer and Executive Vice President of Human Resources

Jamila Daniel serves as the Chief Diversity Officer and Executive Vice President of Human Resources for Starz. In her role as Chief Diversity Officer, she partners with the leadership team to implement organizational changes in policy and culture to foster a more diverse and inclusive workplace. As Executive Vice President of Human Resources, she works with business unit management on HR strategies to attract diverse talent and support employee goals aligned with the company's commitment to women and underrepresented audiences. Daniel joined Starz in 2019. Prior to Starz, she was Vice President of Human Resources at Crown Media Family Networks (Hallmark Channels), where she developed strategic human capital solutions. She has extensive experience in entertainment and media, having also held positions at Turner Broadcasting and AFTRA/SAG-AFTRA. She has been recognized on Cablefax's "Diversity" List and Business Insider's "HR Innovators" List.

The proliferation of competitive direct-to-consumer subscription video on demand (SVOD) streaming services, initially exemplified by the rapid growth of Netflix's streaming offering and subsequently by other major media companies launching their own streaming platforms, represented a clear emerging threat. This trend fundamentally shifted consumer content consumption habits away from traditional linear premium television channels, leading to increased cord-cutting and intense competition for both exclusive content and subscriber dollars, directly impacting Starz's traditional business model.

Starz Entertainment's main products include its premium linear cable television networks and its direct-to-consumer streaming service (Subscription Video On Demand - SVOD).

Addressable Markets:

• Premium Linear Cable Television (Pay TV)
  • U.S. Market: The United States pay TV market size was valued at approximately USD 69.37 billion in 2024 and is projected to decline to USD 57.83 billion by 2033, showing a compound annual growth rate (CAGR) of -2.0% during this period.
  • Global Market: The global pay TV market size was valued at USD 190.21 billion in 2024. It is estimated to reach USD 208.12 billion by 2033, with a CAGR of 1.00% between 2025 and 2033. Cable TV accounted for a leading revenue share of 36.9% in the global pay TV market in 2024.
• Streaming Service (Subscription Video On Demand - SVOD)
  • U.S. Market: The U.S. Video on Demand (VoD) market size is expected to reach USD 70.9 billion by 2030, growing at a CAGR of 11.4%. The U.S. streaming industry is anticipated to generate USD 91 billion in 2025, encompassing both subscription and advertising revenue.
  • Global Market: The global subscription video on demand market size was estimated at USD 95.50 billion in 2024 and is projected to grow at a CAGR of 9.6% from 2025 to 2030. Another estimate values the global SVOD market size at USD 128.74 billion in 2025, with a projection to reach USD 242.02 billion by 2033 at a CAGR of 8.21%.

Starz Entertainment (Nasdaq: STRZ), which became a standalone public company on May 7, 2025, is focused on several key drivers to fuel its future revenue growth over the next two to three years.

1. Growth in Over-The-Top (OTT) Subscribers and Digital Revenue: Starz has successfully transitioned to a digital-first strategy, with approximately 70% of its revenue currently generated through its robust digital footprint. The company anticipates sequential growth in its OTT subscriber base and overall digital revenue in the upcoming quarters.

2. Targeted Original Content and Franchise Expansion: A core driver for Starz is its strategy of developing and expanding popular original programming aimed at specific demographics, particularly women and underrepresented audiences. Successful franchises like "Power" and "Outlander" are being leveraged through spin-offs and prequels, such as "Outlander: Blood of My Blood" and the upcoming "Power Prequel: Origins" and "Spartacus." This content strategy is crucial for attracting new subscribers and retaining existing ones.

3. Strategic Bundling, Distribution, and Partnership Opportunities: Starz is positioned to grow by capitalizing on new bundling, distribution, and other partnership opportunities. Its targeted content offering makes it a complementary add-on service, which can facilitate broader reach and subscriber acquisition through various platforms.

4. Cost Discipline and Optimized Content Production: Although not a direct revenue generator, Starz's focus on cost efficiency in content production and operations is expected to significantly improve profitability and margins. The company aims to reduce content costs (targeting $600-$650 million by 2028) and achieve a 20% EBITDA margin. This financial discipline will free up resources for strategic investments in high-impact programming and support sustainable long-term revenue growth.

Share Issuances

• Starz Entertainment Corp. began trading on Nasdaq under the ticker symbol STRZ on May 7, 2025, following the completion of its full separation from Lionsgate's studio businesses.
• As part of the separation, holders of Lionsgate's Class A and Class B shares received shares in the newly formed Starz Entertainment Corp.
• A 15-to-1 reverse stock split was implemented for Starz common shares to consolidate its capital structure after the spin-off.