Starz LLC Gains 900K Subs

QVC revenue rises, OIBDA flat
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Liberty Media's Starz LLC unit had another strong quarter of subscriber growth, adding about 900,000 subscribers in the first quarter to its Starz and Encore premium channels, fueled by strong viewership for its original programming.

Starz added about 600,000 subscribers in the quarter, rising from 18.2 million in the fourth quarter to 18.8 million. Its Encore channel added another 300,000 customers to the mix, ending the quarter with 32.1 million customers, up from 31.8 million in the fourth quarter. It was the second consecutive quarter of subscriber growth for the premium channels. In the fourth quarter, Starz added 800,000 subscribers and Encore added another 800,000.

The subscriber gains helped drive strong revenue and cash flow increases at the premium channels. Starz LLC reported revenue of $391 million (up 28%) in the period and adjusted operating income before depreciation and amortization rose 24% to $131 million.

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