Starz reported total revenue of $319.7 million in the second quarter, slightly below Wall Street’s expectations thanks to declines in subscriber levels on linear TV and streaming.

Amid the top-line challenges, the newly independent company spun off from Lionsgate earlier this year is projecting growth in both subscribers and revenue over the next two quarters. One bright spot in the second quarter was the fact that adjusted operating income before depreciation and amortization [OIBDA] hit Street forecasts at $33.4 million.

The premium programmer now has more than two-thirds of its subscriber base in streaming. It ended the quarter on June 30 with 12.2 million streaming customers in the U.S., a decline of 120,000 from the prior quarter. Linear and streaming combined in the U.S. totaled 1

See Full Page