Step 1: General property of hyperbola.
For any point \( P(\theta) \) on the hyperbola, the distance from the point to the foci satisfies the equation:
\[
SP \cdot SP' = a^2 \tan^2 \theta + b^2 \sec^2 \theta
\]
Step 2: Apply the given conditions.
Given the equation of the hyperbola \( \frac{x^2}{a^2} - \frac{y^2}{b^2} = 1 \), and the foci at \( S \) and \( S' \), we know the relationship for the product of the distances from a point on the hyperbola to the foci is:
\[
SP \cdot SP' = a^2 \tan^2 \theta + b^2 \sec^2 \theta
\]
Step 3: Conclusion.
Thus, the value of \( SP \cdot SP' \) is \( \boxed{a^2 \tan^2 \theta + b^2 \sec^2 \theta} \).