Starz sees starry revenue for Q4
DetailsMichelle Clancy | 26 February 2015
Starz has reported $425.6 million in revenue and net income of $77.4 million for the fourth quarter, beating analyst expectations.
Q4 revenue was up primarily due to rate increases from various distributors — and at the end of December, Starz boasted 23.3 million subscribers.
For the full fiscal year 2014, Starz revenue was $1.664 billion, down from 2013's $1.778 billion. However, profit and earnings per share rose year-over-year.
"Our fourth quarter results capped off a strong 2014, as we delivered solid increases in revenue, Adjusted OIBDA and a new high subscriber count at Starz," said Starz CEO, Chris Albrecht. "The 2014 performance at Starz validates the strategy undertaken to transform the company from primarily a movie-based provider to a true gold standard premium entertainment provider."
He added: "We have tremendous momentum entering 2015 with our strongest and most diverse slate of original programming and opportunities to expand our reach globally. We believe Starz is well positioned for continued success."