the year ended December 31, 2015, revenue earned under affiliation agreements with AT&T (including DIRECTV, which it acquired in July 2015) and Comcast each accounted for at least 10% of the company’s revenue. Programming The programming on the company’s networks includes programming that the company licenses from studios and other rights holders and original programming that it controls, either through outright ownership or through licensing arrangements. Output and Content License Agreements The majority of the content on the company’s networks consists of films that have been released theatrically. The company has a long-term output licensing agreement with Sony Pictures Entertainment Inc. (Sony) for all qualifying films released theatrically in the U.S. by studios owned by Sony through 2021. The company also has an output license agreement with The Walt Disney Company (Disney) for all qualifying films released theatrically in the U.S. by studios owned by Disney through 2015. The rights that the company licenses from Sony and Disney on an exclusive basis during its license periods include linear television, on-demand and online, among others. Under these agreements, the company’s networks have rights to air new movies on linear television networks, on-demand or online during 2 or 3 separate windows through a period of approximately 8 to 10 years from their initial theatrical release. Examples of new Hollywood blockbusters that are aired or would be aired by the company’s networks in 2016 include Star Wars: The Force Awakens, Ant-Man, Avengers: Age of Ultron, Concussion, Inside Out, Paul Blart: Mall Cop 2 and Pixels. The company’s output licensing agreement with Sony includes all titles released under the Columbia, Screen Gems, Sony Pictures Classics, and TriStar labels. The company does not license films produced by Sony Pictures Animation. The company licenses films released by Disney under the Disney, Touchstone, Pixar, and Marvel labels. The company also licenses library content consisted of older, previously released theatrical films from many of Hollywood’s major studios. In addition to theatrical films, the company licenses made for television movies, series and other content from studios, production companies or other rights holders. The company licenses library content primarily on an exclusive basis, with the same, and in some cases, more expansive exhibition rights than its output agreements. The rights agreements for the company’s library content are of varying duration and generally permit its networks to exhibit these films, series and other programming during certain window periods. Original Programming The company contracts with independent production companies, including BBC Worldwide Limited, Film Afrika, Media Rights Capital and Sony Pictures Television, among others, to produce the majority of the original programming that appears on the company’s networks. To the extent, the company receives distribution rights to its original programming in the home entertainment and television ancillary markets in the U.S. and internationally, the company creates downstream revenue opportunities for its Starz Distribution segment. Transmission The company uplinks its programming to five non-preemptible, protected transponders on three satellites positioned in geo-synchronous orbit. These satellites feed the company’s signals to various swathes of the Americas. The company leases these transponders under long-term lease agreements. These transponder leases have termination dates ranging from 2018 to 2021. The company transmits to these satellites from its uplink center in Englewood, Colorado. The company has made arrangements at a third party facility to uplink its linear channels to these satellites in the event that the company is unable to do so from its uplink center. Regulatory Matters The company is required to obtain any necessary music performance rights from the rights holders. These rights generally are controlled by the music performance rights organizations of the American Society of Composers, Authors and Publishers; Broadcast Music, Inc.; and the Society of Europ
starz - a
(9LMA:Stuttgart Stock Exchange)
8900 Liberty Circle
Englewood, CO 80112
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