Starz’s second-quarter revenue fell 4% year on year to $307.9 million, although its streaming business returned to year-on-year growth for the first time in 18 months. The company sees this as evidence that its turnaround is gaining traction and has raised its full-year adjusted OIBDA growth forecast from low to mid-single digits.

Streaming revenue was $221.3 million, broadly flat on a reported basis but up 1.4% excluding a Canadian accounting change, while linear TV and other revenue dropped 14% to $86.6 million as traditional television households declined. Net loss widened to $189.4 million, largely because Starz recorded a $147 million restructuring charge after ending its Universal Pictures output agreement; it expects lower restructuring costs ahead and says 2029 could bring stronger free-cash-flow growth.