As M&A chatter goes on, STARZ looks forward to independent future
As M&A chatter goes on, STARZ looks forward to independent future
STARZ Networks president Alison Hoffman and original programming chief Kathryn Busby discussed the streamer’s course at a panel during the 2026 StreamTV Show.
It’s been over a year since STARZ and Lionsgate completed their corporate split, moving forward as independent companies. The STARZ premium cable channel and on-demand streaming platform now face an intimidating marketplace in which even giant legacy media companies are being acquired in order to remain solvent.
Merger and acquisition rumors have swirled around STARZ multiple times in recent years, but currently, the company is not focusing on a future that would see it consolidated with another streaming giant. Instead, STARZ is committed to carving out a space for itself as a platform that provides content for underserved audiences, according to president Alison Hoffman and original programming head Kathryn Busby at the StreamTV conference in Denver last month.
As Hoffman and Busby explained, their main goal in trying to infuse new life into STARZ is to rebuild its content library and revitalize its owned intellectual property. The pair pointed to the new series “Fightland,” an upcoming boxing crime-drama series executive produced by Curtis “50 Cent” Jackson as the pair’s first true original IP while at the company, and pledged to continue developing new content that will eventually become the new foundation of the STARZ brand.
The duo emphasized the importance of owning their own brands as they try to reconstruct their catalog. As Hoffman explained, having complete ownership of IP from start to finish includes monetization and revenue benefits that help to “build long-term value in a different way” around these titles.
Busby reiterated that STARZ’s overall content focus is to super-serve adults with quality scripted programming. Even with other premium TV platforms like HBO Max and Apple TV churning out new prestige TV titles every week, STARZ sees a space for itself in the marketplace, particularly as it develops more shows for underserved audiences like women and Black viewers.
Just because STARZ isn’t building on a deep, already established library of IP doesn’t mean that it has no experience with big-name franchises. Titles like “Outlander,” “Power,” and their various spinoffs have given STARZ the confidence to bet on itself as it develops new titles that it hopes will win over audiences.
“All franchises start with a bet,” Busby said. “You bet on something and then hope that it grows.”
While the competition facing STARZ in the premium TV space is fierce, there may well be something to its strategy of hyper-targeting underrepresented demographic groups. Recent data from Emarketer shows that streaming makes up the largest share of Black adults’ total TV time, accounting for 45.9% of all viewing, as compared to cable’s 22.4% and broadcast’s 21.8%. STARZ is simply going where the audience is; not only does the above-mentioned “Fightland” feature multiple Black lead performers, but the streamer is also at work on the new scripted drama “Black Rodeo,” as well.
While the focus will be on cultivating a strong library, that isn’t the only way that STARZ plans to build its subscriber base; the streamer is also seeking out new bundle opportunities. Just two weeks ago, Peacock announced viewers could purchase STARZ as a paid add-on and watch its content through the Peacock app. STARZ has indicated that they plan on exploring more such partnerships in the future.
“STARZ is built to be bundled,” the executives said, pledging that even more partnerships are on the way this summer. DIRECTV seems like a prime option to bundle with STARZ; the live TV streaming service already includes on-demand content from AMC+, Disney+, HBO Max, and more with its MyEntertainment plan, and STARZ would be a natural fit alongside the other streamers.
Even with this blueprint to follow, the odds that STARZ is acquired by another media company in the coming months are at least fair. Its market cap is less than $500 million, and it has a strong enough content library to be attractive to a service like Netflix, or a company like NBCUniversal, which recently announced it would be spun off from Comcast. Regardless of M&A opportunities in the future, Hoffman and Busby have laid out a compelling leadership vision for STARZ’s future. It will be instructive to the industry to see how their moves play out as they attempt to chart a course for one of the smaller but still competitive streamers in the market.
STARZ
STARZ offers a subscription video streaming service that gives access to content on the STARZ channel without the need of a cable subscription. With your subscription, you’ll get access to 7,500+ films and episodes, including all of their current originals like “Outlander,” The Serpent Queen,” “BMF,” and “Power.”