Starz Entertainment (STRZ)
Market Price (11/6/2026): $24.27 | Market Cap: $418.9 MilSector: Communication Services | Industry: Movies & Entertainment
Starz Entertainment (STRZ)
Market Price (11/6/2026): $24.27Market Cap: $418.9 MilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Video Streaming. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -97 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7.7% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 163% Stock price has recently run up significantly12M Rtn12 month market price return is 127% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -111% Key risksSTRZ key risks include [1] a heavy reliance on licensed content due to a lack of in-house intellectual property and [2] limited potential for growth following a strategic withdrawal from international markets to focus only on North America. |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Video Streaming. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -97 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7.7% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 163% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 127% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -111% |
| Key risksSTRZ key risks include [1] a heavy reliance on licensed content due to a lack of in-house intellectual property and [2] limited potential for growth following a strategic withdrawal from international markets to focus only on North America. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 11/4/2026
Starz Entertainment (STRZ) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Mixed Fiscal Q3 2026 Earnings Performance with Reaffirmed Guidance.
Starz Entertainment reported its strongest quarter of fiscal 2026 (for the period ended September 30, 2026) with total revenue of $322.4 million, exceeding analyst estimates and showing a 0.5% year-over-year increase. Adjusted OIBDA also more than doubled year-over-year to $44.2 million, surpassing expectations. However, the company reported a net loss of $34.8 million, and while GAAP EPS of -$2.02 beat one consensus estimate of -$2.58, it missed another consensus estimate of -$1.63. The reaffirmation of all fiscal 2026 and fiscal 2027 financial targets, including mid-single-digit Adjusted OIBDA growth and unlevered free cash flow of $100 million to $120 million for fiscal 2026, provided stability but likely prevented a significant upward movement as these targets were already factored into prior expectations following a roughly 28% pullback from its July peak.
2. Significant Insider Selling Activity.
A notable insider selling event occurred when Allen Family Capital LLC, a 10% owner, sold 1,803,786 shares for approximately $44.9 million on October 29, 2026. This substantial divestment by a major shareholder, disclosed around the time of the positive Q3 fiscal 2026 earnings report, likely counterbalanced positive investor sentiment, contributing to the stock's relatively flat trend.
Show more
Starz Entertainment (STRZ) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Mixed Fiscal Q3 2026 Earnings Performance with Reaffirmed Guidance.
Starz Entertainment reported its strongest quarter of fiscal 2026 (for the period ended September 30, 2026) with total revenue of $322.4 million, exceeding analyst estimates and showing a 0.5% year-over-year increase. Adjusted OIBDA also more than doubled year-over-year to $44.2 million, surpassing expectations. However, the company reported a net loss of $34.8 million, and while GAAP EPS of -$2.02 beat one consensus estimate of -$2.58, it missed another consensus estimate of -$1.63. The reaffirmation of all fiscal 2026 and fiscal 2027 financial targets, including mid-single-digit Adjusted OIBDA growth and unlevered free cash flow of $100 million to $120 million for fiscal 2026, provided stability but likely prevented a significant upward movement as these targets were already factored into prior expectations following a roughly 28% pullback from its July peak.
2. Significant Insider Selling Activity.
A notable insider selling event occurred when Allen Family Capital LLC, a 10% owner, sold 1,803,786 shares for approximately $44.9 million on October 29, 2026. This substantial divestment by a major shareholder, disclosed around the time of the positive Q3 fiscal 2026 earnings report, likely counterbalanced positive investor sentiment, contributing to the stock's relatively flat trend.
Show more
Updated on 11/4/2026
Starz Entertainment (STRZ) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Mixed Fiscal Q3 2026 Earnings Performance with Reaffirmed Guidance.
Starz Entertainment reported its strongest quarter of fiscal 2026 (for the period ended September 30, 2026) with total revenue of $322.4 million, exceeding analyst estimates and showing a 0.5% year-over-year increase. Adjusted OIBDA also more than doubled year-over-year to $44.2 million, surpassing expectations. However, the company reported a net loss of $34.8 million, and while GAAP EPS of -$2.02 beat one consensus estimate of -$2.58, it missed another consensus estimate of -$1.63. The reaffirmation of all fiscal 2026 and fiscal 2027 financial targets, including mid-single-digit Adjusted OIBDA growth and unlevered free cash flow of $100 million to $120 million for fiscal 2026, provided stability but likely prevented a significant upward movement as these targets were already factored into prior expectations following a roughly 28% pullback from its July peak.
2. Significant Insider Selling Activity.
A notable insider selling event occurred when Allen Family Capital LLC, a 10% owner, sold 1,803,786 shares for approximately $44.9 million on October 29, 2026. This substantial divestment by a major shareholder, disclosed around the time of the positive Q3 fiscal 2026 earnings report, likely counterbalanced positive investor sentiment, contributing to the stock's relatively flat trend.
3. Resolution of Distribution Agreement and Debt Refinancing.
Starz Entertainment secured a new distribution agreement with Verizon Fios in October 2026, resolving a temporary service disruption that began on September 30, 2026. While this removed a potential negative factor, the company stated that the agreement had no material impact on its fiscal 2026 or fiscal 2027 guidance. Additionally, Starz increased its credit facilities by $100 million, utilizing the proceeds to repay higher-interest programming notes. This refinancing is projected to improve annual free cash flow by approximately $4 million, representing a prudent financial management move rather than a significant catalyst for stock price appreciation.
4. Uncertainty from Canada Revenue Agency Reassessment.
On October 13, 2026, Starz disclosed a reassessment from the Canada Revenue Agency totaling C$156.2 million (approximately US$111.3 million) for fiscal years ended March 31, 2019, and March 31, 2022. Although Lionsgate Studios Corp. is contractually obligated to indemnify Starz for this liability and plans to dispute the reassessment, the presence of a substantial tax dispute, even with indemnification, could introduce a level of uncertainty or perceived financial risk for investors, dampening enthusiasm for significant stock price growth.
Show less
Starz Entertainment (STRZ) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Mixed Fiscal Q3 2026 Earnings Performance with Reaffirmed Guidance.
Starz Entertainment reported its strongest quarter of fiscal 2026 (for the period ended September 30, 2026) with total revenue of $322.4 million, exceeding analyst estimates and showing a 0.5% year-over-year increase. Adjusted OIBDA also more than doubled year-over-year to $44.2 million, surpassing expectations. However, the company reported a net loss of $34.8 million, and while GAAP EPS of -$2.02 beat one consensus estimate of -$2.58, it missed another consensus estimate of -$1.63. The reaffirmation of all fiscal 2026 and fiscal 2027 financial targets, including mid-single-digit Adjusted OIBDA growth and unlevered free cash flow of $100 million to $120 million for fiscal 2026, provided stability but likely prevented a significant upward movement as these targets were already factored into prior expectations following a roughly 28% pullback from its July peak.
2. Significant Insider Selling Activity.
A notable insider selling event occurred when Allen Family Capital LLC, a 10% owner, sold 1,803,786 shares for approximately $44.9 million on October 29, 2026. This substantial divestment by a major shareholder, disclosed around the time of the positive Q3 fiscal 2026 earnings report, likely counterbalanced positive investor sentiment, contributing to the stock's relatively flat trend.
3. Resolution of Distribution Agreement and Debt Refinancing.
Starz Entertainment secured a new distribution agreement with Verizon Fios in October 2026, resolving a temporary service disruption that began on September 30, 2026. While this removed a potential negative factor, the company stated that the agreement had no material impact on its fiscal 2026 or fiscal 2027 guidance. Additionally, Starz increased its credit facilities by $100 million, utilizing the proceeds to repay higher-interest programming notes. This refinancing is projected to improve annual free cash flow by approximately $4 million, representing a prudent financial management move rather than a significant catalyst for stock price appreciation.
4. Uncertainty from Canada Revenue Agency Reassessment.
On October 13, 2026, Starz disclosed a reassessment from the Canada Revenue Agency totaling C$156.2 million (approximately US$111.3 million) for fiscal years ended March 31, 2019, and March 31, 2022. Although Lionsgate Studios Corp. is contractually obligated to indemnify Starz for this liability and plans to dispute the reassessment, the presence of a substantial tax dispute, even with indemnification, could introduce a level of uncertainty or perceived financial risk for investors, dampening enthusiasm for significant stock price growth.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -6.5% change in STRZ stock from 7/31/2026 to 11/5/2026 was primarily driven by a -2.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.02 | 24.32 | -6.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,294 | 1,258 | -2.8% |
| P/S Multiple | 0.3 | 0.3 | -1.5% |
| Shares Outstanding (Mil) | 17 | 17 | -2.3% |
| Cumulative Contribution | -6.5% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| STRZ | -6.5% | |
| Market (SPY) | -1.9% | 31.7% |
| Sector (XLC) | -3.6% | 57.0% |
Fundamental Drivers
The 32.6% change in STRZ stock from 4/30/2026 to 11/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.34 | 24.32 | 32.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 1,258 | 0.0% |
| P/S Multiple | � | 0.3 | 0.0% |
| Shares Outstanding (Mil) | 17 | 17 | -2.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| STRZ | 32.6% | |
| Market (SPY) | 2.3% | 25.0% |
| Sector (XLC) | -10.2% | 38.5% |
Fundamental Drivers
The 131.4% change in STRZ stock from 10/31/2025 to 11/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.51 | 24.32 | 131.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 1,258 | 0.0% |
| P/S Multiple | � | 0.3 | 0.0% |
| Shares Outstanding (Mil) | 17 | 17 | -2.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| STRZ | 131.4% | |
| Market (SPY) | 8.4% | 25.0% |
| Sector (XLC) | -8.3% | 36.9% |
Fundamental Drivers
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Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| STRZ | ||
| Market (SPY) | 81.3% | 20.8% |
| Sector (XLC) | 66.3% | 31.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STRZ Return | - | - | - | - | 4% | 108% | 117% |
| Peers Return | -2% | -45% | 9% | -10% | -21% | -29% | -70% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| STRZ Win Rate | - | - | - | - | 50% | 64% | |
| Peers Win Rate | 44% | 35% | 50% | 47% | 40% | 38% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| STRZ Max Drawdown | - | - | - | - | - | -31% | |
| Peers Max Drawdown | -32% | -57% | -34% | -45% | -46% | -47% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NFLX, PARA, DIS, AMCX, CMCSA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
STRZ has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.
| Event | XLC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -17.7% | -18.8% |
| % Gain to Breakeven | 21.5% | 23.1% |
| Time to Breakeven | 63 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 470 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.8% |
| Time to Breakeven | 109 days | 105 days |
In The Past
State Street Communication Services Select Sector SPDR ETF's stock fell -17.7% during the 2025 US Tariff Shock. Such a loss loss requires a 21.5% gain to breakeven.
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Asset Allocation
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STRZ has limited trading history. Below is the Communication Services sector ETF (XLC) in its place.
| Event | XLC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 470 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.2% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.8% |
| Time to Breakeven | 109 days | 105 days |
In The Past
State Street Communication Services Select Sector SPDR ETF's stock fell -17.7% during the 2025 US Tariff Shock. Such a loss loss requires a 21.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Starz Entertainment (STRZ)
Lions Gate Entertainment Corp. (STRZ) is a global diversified entertainment company with operations spanning film, television, and subscription-based media. The company's business is structured into three main segments: Motion Picture, Television Production, and Media Networks, through which it develops, produces, and distributes a wide range of content.
The company's primary products and services include the development, production, and worldwide distribution of feature films through its Motion Picture segment, encompassing theatrical releases, home entertainment, and licensing. Its Television Production segment creates and distributes various television series, movies, and non-fiction programs, licensing these productions to different networks and platforms, including its own Starz Networks. The Media Networks segment offers STARZ-branded premium subscription video services, distributed domestically through traditional video providers and internationally via its direct-to-consumer OTT (Over-The-Top) STARZPLAY platform.
Lions Gate Entertainment Corp. serves a diverse set of customers and markets. In its film and television production businesses, key customers include global theatrical audiences, home entertainment consumers, television networks, and digital streaming services. For its Media Networks segment, primary customers are domestic video programming distributors like cable and satellite operators, as well as individual international subscribers who directly access its premium streaming services.
AI Analysis | Feedback
Think of it as a smaller Warner Bros. Discovery: a major film and TV studio that also runs its own premium streaming and cable service (Starz).
A premium streaming and cable network, akin to HBO or Showtime, but combined with the operations of a significant Hollywood film studio.
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- Film Production and Distribution: This service involves the development, production, acquisition, and global distribution of feature films for theatrical release, home entertainment, and television.
- Television Content Production and Distribution: This service encompasses the development, production, and worldwide distribution of various television programming, including series, movies, and non-fiction content.
- Premium Subscription Video Services (STARZ & STARZPLAY): This service provides domestic and international access to STARZ branded premium video content through traditional distributors and over-the-top (OTT) platforms.
- Music Licensing: This service includes the sale and licensing of music derived from the company's television broadcasts and productions.
- Talent Management Services: This service offers professional management and related support for individuals in the entertainment industry.
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Lions Gate Entertainment Corp., which operates the Starz brand and is described in the background, primarily sells its content and services to other companies (B2B). Its major customers fall into the following categories:
1. Video Programming Distributors: For its STARZ branded premium subscription video services, the company distributes to major video programming distributors.
- Examples: Cable operators such as Comcast (CMCSA) and Charter Communications (CHTR), satellite television providers like DISH Network (DISH), and telecommunications companies including AT&T (T) and Verizon (VZ).
2. Streaming Platforms and Television Networks: The company licenses its extensive library of feature films and television productions for distribution and broadcast.
- Examples: Streaming services such as Netflix (NFLX) and Amazon (AMZN) for Prime Video, and major media conglomerates like Walt Disney Company (DIS), Paramount Global (PARA), and Warner Bros. Discovery (WBD) for their respective networks and streaming platforms.
3. Theatrical Exhibitors: For the theatrical release of its feature films, the company partners with cinema chains.
- Examples: Major cinema chains like AMC Entertainment Holdings, Inc. (AMC) and Cinemark Holdings, Inc. (CNK).
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Jeffrey A. Hirsch
President and Chief Executive Officer
Jeffrey A. Hirsch was appointed President and Chief Executive Officer of Starz in September 2019, having previously served as Chief Operating Officer from 2016 and President of Global Marketing and Product Development since joining the company in July 2015. Under his leadership, Starz launched the STARZ app in the U.S. and expanded the STARZPLAY brand and platform into multiple international markets. Before joining Starz, Hirsch was Executive Vice President and Chief Marketing Officer, Residential Services at Time Warner Cable, where he began in 1999. His earlier career included roles at NYNEX Corporation and McCann-Erickson.
Scott Macdonald
Chief Financial Officer
Scott Macdonald was promoted to Chief Financial Officer of Starz in July 2012. He joined Starz Media in 2006 as Senior Vice President of Finance and Accounting. Prior to his tenure at Starz, Macdonald held positions as Chief Accounting Officer at Adelphia Communications, Senior Vice President and Corporate Controller at AT&T Broadband, and Vice President and Controller at Primestar, Inc.
Alison Hoffman
President, Domestic Networks
Alison Hoffman serves as the President of Domestic Networks for Starz. She started at Starz in July 2016.
Kathryn Busby
President, Original Programming
Kathryn Busby is the President of Original Programming at Starz.
Audrey Lee
Executive Vice President and General Counsel
Audrey Lee holds the position of Executive Vice President and General Counsel for Starz.
AI Analysis | Feedback
The key risks to Starz Entertainment (symbol: STRZ) include:
- Intense Competition and Market Saturation in the Streaming Industry: Starz operates within a highly competitive streaming market, contending with major players such as Netflix, Walt Disney Co., and Warner Bros. Discovery. Although its strategy of focusing on women and underrepresented audiences, coupled with a lower price point, offers some insulation, the overall market's saturation presents a significant challenge for subscriber acquisition and retention.
- Challenges in Subscriber Growth and Retention: The company has experienced declines in its subscriber base, including a quarter-over-quarter reduction of 120,000 U.S. OTT subscribers and a total North American subscriber decline of 520,000 in Q2 2025. This trend indicates difficulties in attracting and retaining subscribers amidst the competitive landscape.
- Limited Geographic Expansion and Reliance on the North American Market: Starz has strategically narrowed its focus to the U.S. and Canada, having previously scaled back international operations. While this focus is intended to leverage its established presence, it exposes the company to market saturation within these regions and restricts its potential for global growth compared to its more internationally diversified competitors. This limited expansion strategy, coupled with the absence of an in-house production department and constrained financial backing, further amplifies the risk.
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The clear emerging threat for Starz Entertainment (operating within Lions Gate Entertainment Corp. as described) is the intensifying "Streaming Wars" and the accelerating trend of vertical integration within the entertainment industry.
This poses a multi-faceted threat across all of Lions Gate's segments:
- For its Motion Picture and Television Production segments: Major media conglomerates (e.g., Disney, Warner Bros. Discovery, Paramount Global, Comcast/NBCUniversal, Amazon, Apple) are heavily investing in and prioritizing exclusive content for their own direct-to-consumer streaming platforms. This significantly shrinks the market for third-party content licensing and distribution, making it harder for Lions Gate to sell its films and television series to external buyers. Furthermore, this intense competition drives up production costs and the demand for talent, making it more challenging for Lions Gate to compete effectively for desirable projects and personnel against companies with much larger financial resources.
- For its Media Networks segment (STARZ branded premium subscription video services): As a standalone streaming service, Starz faces an increasingly crowded and competitive landscape. It must vie for subscriber attention and dollars against well-capitalized rivals like Netflix, Amazon Prime Video, Disney+, Max, Hulu, Paramount+, and Peacock, many of whom possess larger content libraries, iconic franchises, and deeper marketing budgets. Maintaining subscriber growth and retention requires continuous, substantial investment in high-quality original content to differentiate itself, which is a significant and escalating financial burden in this environment. Additionally, the ongoing acceleration of "cord-cutting" directly threatens Starz's traditional distribution model through cable, satellite, and telecommunications providers, pushing more of its business into the fiercely competitive direct-to-consumer market.
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Starz Entertainment (STRZ) primarily operates in the subscription video on demand (SVOD) market, providing premium streaming content both domestically and internationally.
The addressable markets for Starz Entertainment's main products and services are:
- Global SVOD Market: The global Subscription Video on Demand (SVOD) market was valued at approximately USD 128.43 billion in 2024 and is projected to reach USD 209.35 billion by 2030, growing at a CAGR of 8.5% over this period.
- North American SVOD Market: North America is a significant regional market for SVOD services. In 2024, the North American SVOD market accounted for over 44% of the global SVOD market. This translates to at least USD 56.51 billion in 2024.
- U.S. SVOD Market: The U.S. subscription video on demand industry held a dominant share of over 67% within the North American market in 2024. Based on the North American market size, the U.S. SVOD market was at least USD 37.86 billion in 2024.
- International SVOD Market (excluding North America): The international SVOD market, excluding North America, constituted the remaining portion of the global market. This would be up to USD 71.92 billion in 2024.
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Starz Entertainment (symbol: STRZ) finalized its separation from Lionsgate and began trading as a standalone public company on the Nasdaq Stock Market on May 7, 2025. The capital allocation decisions below reflect the period primarily since this spin-off.
Share Repurchases
- Starz Entertainment (STRZ) has not announced or executed any share repurchases since its spin-off in May 2025.
- On March 10, 2026, Starz Entertainment Corp. adopted a limited-duration shareholder protection rights agreement, or "poison pill," designed to deter hostile takeovers by allowing existing shareholders to purchase additional shares at a discount if an entity acquires 17.5% or more of outstanding shares.
Share Issuance
- Upon its separation from Lionsgate on May 7, 2025, Starz Entertainment Corp. issued new common shares to former Lions Gate Entertainment Corp. shareholders, marking its establishment as an independent public company .
Inbound Investments
- On March 5, 2026, Allen Family Capital, LLC acquired 1,803,786 Common Shares of Starz Entertainment Corp., representing approximately 10.7% of its outstanding common shares, for $25 million USD from Liberty 77 Capital L.P. .
Outbound Investments
- Starz Entertainment has expressed interest in acquiring other media businesses, with reports indicating potential bids for A+E Global Media in November 2025 and the Global Linear Networks businesses of Warner Bros. Discovery in December 2025.
- The company maintains a commitment to continued content investment and international expansion as key drivers for future growth and profitability .
Capital Expenditures
- Starz Entertainment is pursuing a disciplined investment strategy focused on content, with plans to launch several original series in 2026 to drive subscriber growth and engagement.
- The company anticipates generating $80 million to $120 million in positive unlevered free cash flow in 2026, an improvement from 2025, primarily due to a projected lower cash content spend in 2026 compared to 2025.
- As part of its strategic initiatives to optimize operations and cost structure, Starz has restructured its Canadian business to a content licensing model.
Peer Outperformance in Movies & Entertainment
nullShare of Movies & Entertainment constituents that STRZ has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 27 industry peers · 127.3% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
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Median price return by industry across the Communication Services sector, ranked by 5Y. Movies & Entertainment is STRZ's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -13.4% | 14.6% | 37.7% | ECHO 244% · TMUS 38% |
| Publishing | 5 | 15.2% | 4.2% | 5.9% | NYT 38% · NWSA 14% |
| Integrated Telecommunication Services | 21 | -19.9% | 12.8% | -27.7% | GSAT 233% · AD 112% · TDS 91% |
| Movies & Entertainment ← | 23 | 17.2% | 47.3% | -31.2% | IMAX 132% · FWONA 91% · CNK 85% |
| Broadcasting | 14 | -9.8% | -22.3% | -70.7% | FOXA 74% · NXST 33% · SIRI -38% |
| Interactive Media & Services | 33 | -34.8% | -40.3% | -71.8% | GOOGL 92% · META 79% · CARG -1% |
| Interactive Home Entertainment | 8 | -46.0% | -65.7% | -72.9% | TTWO 14% · RBLX -39% · PINS -57% |
| Alternative Carriers | 4 | -39.8% | 13.7% | -73.0% | IRDM 5% · LUMN -69% |
| Advertising | 18 | -34.2% | -11.3% | -74.2% | APP 262% · OMC 51% · MGNI 21% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.43 |
| Mkt Cap | 43.9 |
| Rev LTM | 25,990 |
| Op Inc LTM | 7,600 |
| FCF LTM | 4,242 |
| FCF 3Y Avg | 9,156 |
| CFO LTM | 6,263 |
| CFO 3Y Avg | 9,790 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.6% |
| Rev Chg 3Y Avg | 2.3% |
| Rev Chg Q | -2.6% |
| QoQ Delta Rev Chg LTM | -0.7% |
| Op Inc Chg LTM | -14.9% |
| Op Inc Chg 3Y Avg | 9.9% |
| Op Mgn LTM | 11.2% |
| Op Mgn 3Y Avg | 14.2% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 13.5% |
| CFO/Rev 3Y Avg | 17.4% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 12.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| International | 13 | 10 | 9 |
| Starz Networks | 1,356 | 1,383 | 1,413 |
| Total | 1,370 | 1,392 | 1,422 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| International | -4 | -10 | -6 |
| Starz Networks | -166 | -894 | 191 |
| Depreciation and amortization | -156 | ||
| Goodwill impairment | -1,262 | ||
| Restructuring and other | -90 | ||
| Share-based compensation expense | -26 | ||
| Total | -170 | -904 | -1,348 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| International | -4 | -36 |
| Starz Networks | -211 | -769 |
| Total | -215 | -805 |
| $ Mil | 2025 |
|---|---|
| International | 6 |
| Other unallocated assets | 149 |
| Starz Networks | 2,018 |
| Total | 2,173 |
Price Behavior
Price Behavior
| Market Price | $24.32 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 05/07/2025 | |
| Distance from 52W High | -19.5% | |
| 50 Days | 200 Days | |
| DMA Price | $24.34 | $20.89 |
| DMA Trend | down | up |
| Distance from DMA | -0.1% | 16.4% |
| 3M | 1YR | |
| Volatility | 71.6% | 68.4% |
| Downside Capture | 240.64 | 129.20 |
| Upside Capture | 235.59 | 211.75 |
| Correlation (S&P 500) | 31.3% | 24.9% |
STRZ Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.79 | 1.38 | 1.62 | 1.14 | 1.21 | -0.03 |
| Up Beta | -0.73 | 1.78 | 0.26 | -0.05 | 0.61 | 0.38 |
| Down Beta | 3.36 | 3.18 | 2.03 | 0.04 | 0.34 | 0.03 |
| Up Capture | 83% | 17% | 146% | 230% | 354% | 53% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 22 | 33 | 70 | 138 | 193 |
| Down Capture | 163% | 150% | 221% | 160% | 123% | 88% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 21 | 31 | 55 | 111 | 176 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STRZ | |
|---|---|---|---|---|
| STRZ | 126.1% | 68.4% | 1.46 | - |
| Sector ETF (XLC) | -6.7% | 16.6% | -0.60 | 37.2% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 25.1% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 13.8% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | -7.9% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 16.3% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 24.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STRZ | |
|---|---|---|---|---|
| STRZ | 17.4% | 74.9% | 1.03 | - |
| Sector ETF (XLC) | 6.5% | 21.1% | 0.22 | 30.9% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 20.7% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 9.2% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | -9.1% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 16.0% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 18.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STRZ | |
|---|---|---|---|---|
| STRZ | 8.3% | 74.9% | 1.03 | - |
| Sector ETF (XLC) | 8.5% | 22.1% | 0.42 | 30.9% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 20.7% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 9.2% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | -9.1% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 16.0% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 18.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | 1.6% | 11.9% | |
| 8/7/2026 | 1.9% | 8.8% | 4.5% |
| 5/7/2026 | -1.5% | 9.1% | 30.6% |
| 2/26/2026 | 14.8% | 42.9% | 21.9% |
| 11/13/2025 | -6.3% | 0.6% | 9.7% |
| 8/14/2025 | -20.3% | -14.3% | -2.7% |
| SUMMARY STATS | |||
| # Positive | 3 | 5 | 4 |
| # Negative | 3 | 1 | 1 |
| Median Positive | 1.9% | 9.1% | 15.8% |
| Median Negative | -6.3% | -14.3% | -2.7% |
| Max Positive | 14.8% | 42.9% | 30.6% |
| Max Negative | -20.3% | -14.3% | -2.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | 1.6% | 11.9% | |
| 8/7/2026 | 1.9% | 8.8% | 4.5% |
| 5/7/2026 | -1.5% | 9.1% | 30.6% |
| 2/26/2026 | 14.8% | 42.9% | 21.9% |
| 11/13/2025 | -6.3% | 0.6% | 9.7% |
| 8/14/2025 | -20.3% | -14.3% | -2.7% |
| SUMMARY STATS | |||
| # Positive | 3 | 5 | 4 |
| # Negative | 3 | 1 | 1 |
| Median Positive | 1.9% | 9.1% | 15.8% |
| Median Negative | -6.3% | -14.3% | -2.7% |
| Max Positive | 14.8% | 42.9% | 30.6% |
| Max Negative | -20.3% | -14.3% | -2.7% |
Recent Forward Guidance
Updated 11/2/2026Latest: Q3 2026 Earnings Reported 10/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted OIBDA Growth | Reported | 4.0% | 5.0% | 6.0% | 0.0% | Affirmed | Guidance: 5.0% for 2026 | |
| 2026 Adjusted OIBDA Leverage Ratio | Reported | 2.7 | 0.0% | Affirmed | Guidance: 2.7 for 2026 | |||
| 2026 OTT Revenue Growth | Reported | |||||||
| 2026 Unlevered Free Cash Flow | Reported | 100.00 Mil | 110.00 Mil | 120.00 Mil | 0.0% | Affirmed | Guidance: 110.00 Mil for 2026 | |
| 2027 Adjusted OIBDA Margin | Reported | 20.0% | 0.0% | Affirmed | Guidance: 20.0% for 2027 | |||
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted OIBDA leverage ratio | Reported | 2.7 | 0 | Affirmed | Guidance: 2.7 for 2026 | |||
| 2026 Unlevered Free Cash Flow | Reported | 80.00 Mil | 100.00 Mil | 120.00 Mil | ||||
Insider Activity
Updated 11/3/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | MacDonald, Scott D | CFO and Treasurer | Revocable Trust | Buy | 11032026 | 22.22 | 2,500 | 55,550 | 1,029,475 | Form |
| 2 | Kapenstein, James M | SEE REMARKS | Direct | Buy | 11032026 | 22.84 | 460 | 10,506 | 291,484 | Form |
| 3 | Hirsch, Jeffrey | President and CEO | Revocable Trust | Buy | 11032026 | 22.13 | 5,000 | 110,650 | 1,549,100 | Form |
| 4 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 21.06 | 363,786 | Form | |||
| 5 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 21.58 | 124,069 | 2,677,966 | 7,852,134 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | MacDonald, Scott D | CFO and Treasurer | Revocable Trust | Buy | 11032026 | 22.22 | 2,500 | 55,550 | 1,029,475 | Form |
| 2 | Kapenstein, James M | SEE REMARKS | Direct | Buy | 11032026 | 22.84 | 460 | 10,506 | 291,484 | Form |
| 3 | Hirsch, Jeffrey | President and CEO | Revocable Trust | Buy | 11032026 | 22.13 | 5,000 | 110,650 | 1,549,100 | Form |
| 4 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 21.06 | 363,786 | Form | |||
| 5 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 21.58 | 124,069 | 2,677,966 | 7,852,134 | Form | |
| 6 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 25.80 | 115,931 | 2,990,788 | 12,585,683 | Form | |
| 7 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 25.96 | 249,255 | 6,471,830 | 15,677,119 | Form | |
| 8 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 25.02 | 745 | 18,640 | 21,343,171 | Form | |
| 9 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 25.14 | 93,834 | 2,358,902 | 21,463,412 | Form | |
| 10 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 27.48 | 17,700 | 486,316 | 26,036,333 | Form | |
| 11 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 27.33 | 38,466 | 1,051,414 | 26,385,671 | Form | |
| 12 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.25 | 140,712 | 3,693,563 | 26,348,479 | Form | |
| 13 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.31 | 59,288 | 1,559,761 | 30,109,682 | Form | |
| 14 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.56 | 156,705 | 4,162,477 | 31,975,566 | Form | |
| 15 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.72 | 43,295 | 1,156,912 | 36,354,496 | Form | |
| 16 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.01 | 13,945 | 362,686 | 36,510,087 | Form | |
| 17 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.49 | 69,798 | 1,848,879 | 37,554,276 | Form | |
| 18 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 27.48 | 184,650 | 5,074,141 | 40,876,963 | Form | |
| 19 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 25.16 | 67,159 | 1,689,929 | 42,077,207 | Form | |
| 20 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 24.29 | 12,635 | 306,965 | 42,256,869 | Form | |
| 21 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 25.23 | 17,027 | 429,520 | 44,194,985 | Form | |
| 22 | Allen, Family Capital, Llc | See Footnote | Sell | 10292026 | 26.23 | 34,786 | 912,611 | 46,409,715 | Form | |
| 23 | Hoffman, Alison | President of Starz Networks | Direct | Sell | 8142026 | 25.07 | 11,491 | 288,091 | 1,189,392 | Form |
| 24 | Hoffman, Alison | President of Starz Networks | Direct | Sell | 8142026 | 24.98 | 20,800 | 519,616 | 1,472,212 | Form |
| 25 | Kapenstein, James M | SEE REMARKS | Direct | Buy | 8122026 | 25.73 | 1,000 | 25,730 | 316,530 | Form |
| 26 | Hirsch, Jeffrey | President and CEO | Revocable Trust | Buy | 8112026 | 24.80 | 10,000 | 248,000 | 1,612,000 | Form |
| 27 | Wyrick, Jason | EVP, Technology | Direct | Sell | 6032026 | 25.47 | 2,803 | 71,392 | 693,828 | Form |
| 28 | Hoffman, Alison | President of Starz Networks | Direct | Sell | 5142026 | 21.42 | 13,661 | 292,675 | 2,022,843 | Form |
| 29 | MacDonald, Scott D | SEE REMARKS | Revocable Trust | Buy | 5142026 | 20.59 | 5,000 | 102,950 | 386,207 | Form |
| 30 | Hirsch, Jeffrey | President and CEO | Revocable Trust | Buy | 5142026 | 20.72 | 10,000 | 207,200 | 1,139,600 | Form |
| 31 | Liberty, 77 Capital LP | See footnotes | Sell | 3062026 | 13.86 | 1,803,786 | Form | |||
| 32 | Burns, Michael Raymond | Direct | Sell | 12112025 | 11.39 | 64,166 | 731,117 | 886,111 | Form | |
| 33 | Burns, Michael Raymond | Direct | Sell | 12112025 | 10.68 | 30,000 | 320,400 | 1,515,866 | Form | |
| 34 | Hirsch, Jeffrey | President and CEO | Direct | Buy | 11192025 | 11.21 | 30,000 | 336,442 | 2,228,256 | Form |
Investor Activity (13F)
Updated Nov 6, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Movies & Entertainment Resources |
| Deadline |
| IndieWire |
| Screen Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 11/5/2026