Chris Albrecht — who has been instrumental in bringing such shows as Power, Outlander, Black Sails and The Girlfriend Experience to Starz — has renewed his deal through 2020, said Starz on Monday. Albrecht will remain CEO and add president to his title starting July 1.
“Chris has developed Starz into a leading, innovative entertainment brand with award-winning original programing that resonates with U.S. and international audiences. He has made remarkable contributions to the business over the past six years, and we look forward to his vision creating even more value for distributors, partners and shareholders,” said Starz chairman Greg Maffei in a statement.
According to The Hollywood Reporter, Albrecht will receive a base salary of $1.5 million plus bonuses. He’ll also get an additional $4 million in stock, which vests in one year. For the past two years, he has made $2.4 million and $2.5 million, respectively, a big drop from the two years prior to that when he made $30.5 million and $12.9 million due to some very beneficial stock deals. Albrecht joined Starz in 2010. Prior to that, he was chairman and CEO of HBO.
“I am more enthusiastic than ever about our strong and resilient subscription-based business model and commitment to make Starz an innovative global brand with an eye to the future,” said Albrecht in a statement.
Under Albrecht’s leadership, Starz is preparing to move its originals from Saturdays to Sundays, where it compete head to head with other networks focused on premium content, such as HBO and AMC. On Sunday, July 17, Starz will premiere the third season of Power, the premium network’s highest-rated original. Albrecht originated scheduling originals on Sunday nights at HBO, which first runs all of its originals — including its current blockbuster, Game of Thrones — on Sunday nights.
In April, Starz launched a premium subscription video on demand (SVOD) streaming service for $8.99 a month, allowing those who don’t subscribe to pay TV access to its shows.
READ MORE: The Hollywood Reporter
[Image courtesy of The Hollywood Reporter]