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.
By DAVID LIEBERMAN, Financial Editor | Wednesday February 27, 2013 @ 4:04pm ESTTags: Big Deals TV, Netflix, Starz, The Weinstein Company
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This article was printed from http://www.deadline.com/2013/02/starz-q4-earnings/
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