Core Insights - STARZ reported consolidated revenue of $320.9 million for the third quarter ended September 30, 2025, with a net loss of $(52.6) million, translating to a net loss per share of $(3.15) [2][4] - The company experienced U.S. OTT subscriber growth of 520,000 year-to-date and 670,000 year-over-year, reaching a total of 12.3 million U.S. OTT subscribers [4][2] - Management reiterated its previously provided 2025 outlook, indicating confidence in future performance [2] Financial Performance - Total revenue for the quarter was $320.9 million, down from $346.9 million in the same quarter last year [10] - Operating loss was $(34.8) million, compared to $(17.0) million in the prior year [10] - Adjusted OIBDA for the quarter was $21.8 million, a decrease from $33.4 million year-over-year [13] Subscriber Metrics - STARZ ended the quarter with 12.3 million U.S. OTT subscribers, a sequential increase of 110,000, while total U.S. subscribers decreased by 130,000 to 17.5 million [4][2] - Total North American subscribers, including Canada, reached 19.2 million, reflecting a sequential increase of 120,000, driven by a resolution of a carriage dispute in Canada [4][2] Debt and Cash Position - As of September 30, 2025, STARZ had $300 million outstanding on its Term Loan A credit facility and $325.1 million in senior unsecured notes, resulting in total net debt of $588.1 million [3] - The company ended the quarter with $37.0 million in cash, an increase from $17.8 million at the beginning of the period [9][3] Management Commentary - STARZ President & CEO Jeffrey Hirsch expressed optimism about the company's operational and financial performance, highlighting plans to generate new revenue through content licensing and ownership of series [2] - The management emphasized the opportunity to scale its core audience of women and underrepresented audiences with a strong slate of original content [2]