Lionsgate Delivers Q2 Profit

Lionsgate reported a net profit of $7.5 million in the second quarter on revenues of $887.8 million.

“I’m pleased to report another solid financial quarter with strong content generation across our business,” said Lionsgate CEO Jon Feltheimer. “STARZ drove the growth of 1.3 million global streaming subscribers with the strong premieres of three new series in the quarter, our Television Group launched six new series and renewed six current shows, and our Motion Picture Group added to an already robust pipeline with the production starts of nine new films. Importantly, we accomplished this and continued to ramp our content spend while also continuing to generate positive adjusted free cash flow and solid adjusted OIBDA.”

The independent studio’s 17,000-title film and TV library generated revenues of $784 million for the trailing 12 months.

In the media networks segment, revenues were fairly stable at $384.7 million, while profit fell to $5.5 million. Total subs rose to 30 million. Global streaming subscribers increased 40 percent year-over-year to 18 million. STARZPLAY International subscribers almost doubled to 7.5 million.

Motion picture revenues rose by 28.5 percent to $330.9 million, while segment profit increased 22.7 percent to $101.8 million thanks to higher home entertainment sales and profit contributions from acquired libraries.

Television production revenues rose 70.4 percent to $336 million and segment profit increased 187.9 percent to $28.5 million, reflecting the deliveries of several new series.