This is Starz‘s first quarterly earnings report as an independent company, following the recent spinoff by Liberty Media, and doesn’t have some of the data you find in other earnings releases. The company says it had operating income (as opposed to net income) of $85.6M, down 2% from the end of 2011, on revenues of $422.2M, also -2%. The revenue figure beat analyst estimates for $417.7M. Starz says that the slide is partly due to the fact that The Weinstein Company had fewer titles available than in Q4 2011, and partly due to “the non-renewal of the Netflix agreement” which expired in February 2012. Starz Networks didn’t have a new original series premiere at the end of 2012, a contrast with the previous year when it introduced Boss. CEO Chris Albrecht says that the pipeline of original series including Da Vinci’s Demons, Magic City and The White Queen “is setting the stage for our long-term growth as an independent public company.” He told analysts that Starz gave up bidding to renew its film deal with Disney, which expires in 2016, because Netflix “significantly, with a capital ‘S,’ increased the price.” Starz ended 2012 with 21.2M subscriptions, up 400,000 from the end of Q3, while Encore had 34.8M, up 500,000.
Starz Q4 Revenues Slip Following Split With Netflix
What's Hot on Deadline
Hollywood Cowardice: George Clooney Explains Why Sony Stood Alone In North Korean Cyberterror Attack
Obama: Sony Made Mistake Pulling 'The Interview'; U.S. Will Respond Proportionally At Time And Place We Choose -- Update
Sony Responds To President Obama's Criticism: "We Had No Choice," Still Hope To Release 'The Interview'
'The Interview' Release Would Have Damaged Kim Jong Un Internally, Says Rand Expert Who Saw Movie At Sony's Request
More From Lieberman
- North Korea “Responsible” For Sony Hack, FBI Confirms
- Paramount Cancels 'Team America' Showings, Theaters Say
- Movie Theater Stocks Rebound After Chains Jettison 'The Interview'
- Lionsgate Sought Deal Talks With Sony Hacked Emails Reveal
- 'The Interview' NYC Premiere Canceled
- Barry Meyer Named To Federal Reserve Bank's Board In San Francisco