Profit Up at Starz

ENGLEWOOD: Second-quarter net income at Starz rose to $69 million on revenues of $410.1 million, with the premium channel operator reporting a gain of 100,000 subs since Q1.

“Our business performed well in the second quarter as we executed on our long-term strategy to build the Starz brand and create compelling original programming,” said Starz CEO Chris Albrecht. “We are pleased with the Starz original programming schedule, which is gaining meaningful traction with audiences and our distributors. Da Vinci’s Demons, which concluded its second season, has been renewed for a third season. Power was also renewed and is performing well across all distribution platforms, with continued momentum and significant audience growth, while we are particularly excited about the eagerly-anticipated series premiere of Outlander on August 9.”

At Starz Networks, revenue was up 2 percent to $328.2 million and operating income rose 29 percent to $111.2 million. Starz Distribution revenue was down to $75.1 million, with the segment reporting a loss of $5.2 million, primarily as a result of fewer significant new release titles from The Weinstein Company.

At the end of Q2, Starz had a subscriber base of 22 million.