Starz CEO Jeff Hirsch raked in $6.75 million in total compensation in 2025 as the company separated from Lionsgate and transitioned to a standalone public company, according to the company’s latest proxy filing. The figure covers the nine-month transition period spanning April 1 and Dec. 31, 2025.
The package included a base salary of $1,162,877, stock awards of $2,530,994, non-equity incentive plan compensation of $2,950,493, a $96,218 change in pension value and non-qualified, deferred compensation earnings and $13,241 in “other” compensation. Other compensation included $1,577 in 401(k) contributions, $3,091 in term life insurance premiums and automobile allowance of $7,777 and $796 in disability benefits.
The median total compensation for Starz’s employees was $100,157, putting the CEO pay ratio at 67 to 1. As of Dec. 31, 2025, Starz had a total of 515 employees, all of whom are based in the U.S.
In November, Hirsch extended his contract with Starz through 2028. Under the terms of that agreement, he will receive a $1.55 million base salary.
He’s also eligible for the executive benefits program, including life and disability insurance, as well as a car allowance of $1,111 per month; an annual incentive bonus with a target of 300% of his base salary; annual long-term ncentive awards with a target value of $9 million, including time-based RSUs, adjusted OIBDA performance-based awards and stock-based performance awards; and up to $6 million in annual stock out-performance bonuses for achievement of higher stock price targets.
For transitional year 2025, the target bonus was pro-rated to reflect the difference
in base salaries and target incentive payouts between his prior agreement and current agreement, with the payout made in cash.
Meanwhile, Starz president Alison Hoffman received $2.75 million in transitional year 2025, including a base salary of $856,164, stock awards of $969,297, non-equity incentive plan compensation of $902,376 and $26,332 in “other” compensation. Other compensation included $23,500 in 401(k) contributions, $2,016 in term life insurance premiums and $816 in disability benefits.
The filing also states that Lionsgate CEO Jon Feltheimer received $224,083 in total pro-rated compensation for transitional year 2025, which included a $126,712 base salary and $2,674 in “other” compensation. Feltheimer’s other compensation included $3,462 in 401(k) contributions, $70 in term life insurance premiums, $217 in disability benefits, $24,491 in security service costs and $43,879 in incremental costs for the personal use of the Lionsgate-leased aircraft.
During Feltheimer’s transition period, which covers April 1 to May 7, he was not granted any equity awards.
Starz closed out 2025 with a total of 17.6 million U.S. subscribers, including 12.7 million streaming subscribers and 5 million linear TV subscribers. It also generated $1.3 billion in total revenue. Roughly 70% of its subscribers and revenue come from streaming.
“In 2025, we delivered exactly what we set out to do,” Hirsch said in a letter to shareholders. “Our strategy of targeting women and underrepresented audiences with premium, differentiated content is working. We are complementary, not competitive, to the large general-entertainment streamers, and that positioning is paying off.”
Looking ahead at 2026, Starz expects OTT revenue growth free cash flow of $80 million to $120 million, adjusted operating income growth in the low-single digits and leverage of 2.7 times by the end of 2026. It also will stop disclosing subscribers starting with its next quarter and anticipates content spend will come in at around $650 million. Its content lineup for the year includes the final season of “Outlander,” the return of “Power Book III: Raising Kanan,” the debut of its owned-original series “Fightland,” “the next chapter of “Blood of My Blood” and a new season of “P-Valley.”
Longer-term, Starz continues to aim for 20% margins coming out of calendar year 2028, converting 70% of adjusted OIBDA into unlevered free cash flow and delevering to 2.5 times as quickly as possible.
“The media landscape is evolving rapidly, but spin-offs, consolidation, and bundling are creating opportunities for focused, profitable players like Starz,” Hirsch added. “With a highly capable tech stack and a proven playbook to migrate a linear-first business into a digital-led one, we believe our business is well positioned to participate in industry M&A as a buyer of complementary assets that align with our audiences, all while maintaining disciplined leverage and generating cash.”
Shares of Starz closed at $12.11 apiece as of Friday’s close, up 8% in the past year and 4% year to date, but down 16.4% in the past six months. The company will hold its shareholder meeting on May 15.
