Starz Revenue Declines 4% in Q2 as Streaming Stabilizes, Company Takes $147 Million Charge Related to Ending Universal Output Deal

By Todd Spangler

Todd Spangler

NY Digital Editor

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Starz saw total revenue slide again in the second quarter of 2026 — but the media company reported its first year-over-year growth in streaming revenue in 18 months. Company execs believe the business is turning around, and they’ve raised their outlook for adjusted OIBDA (operating income before depreciation and amortization) growth for full-year 2026 from low single-digits to mid single-digits.

Total revenue in the second quarter was $307.9 million, down 4% year over year. OTT revenue as reported was $221.3 million, up ever so slightly from $221.1 million in the year-earlier period. However, Starz said, streaming revenue would have increased 1.4% in the June 2026 quarter excluding $3 million of OTT revenue related to Canadian operations that was recorded in Q2 2025. (Starz transitioned its Canadian operations from a distribution partnership with Bell to a content-licensing model at the end of 2025.)

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