Starz is lowering the price of its annual streaming subscription from $74.99 per year to $69.99 per year.
“As one of the few streaming networks that is profitable, we are always looking for ways to drive success for the business while providing great value to our customers,” Starz domestic networks president Alison Hoffman said in a statement. “Our annual plan subscribers are some of our most valuable customers, so we wanted to find ways to drive more people into the plan and reward our existing customers.”
Existing Starz subscribers will see the price adjustment in their next billing cycle.
The move comes after Starz hiked the price of its monthly subscription from $8.99 to $9.99 per month in June – its first increase since 2016.
In its latest quarter, the Lionsgate-owned premium cable and satellite television network reported a total of 29.4 million global subscribers, a sequential decline of 300,000 customers. When looking at streaming specifically, Starz ended the quarter with 19.9 million global OTT subscribers, a 9% year over year increase.
The streamer offers TV shows like “Outlander,” “Minx,” “BMF,” “P-Valley,” “The Serpent Queen,” “Party Down” and movies such as “22 Jump Street,” “Spider-Man: No Way Home,” “Zero Dark Thirty,” “Venom: Let There Be Carnage,” “Slender Man” and more.