Lionsgate Grows Revenues in Q2

Lionsgate’s second-quarter revenues topped $1 billion, a 16 percent gain, with the indie studio narrowing its net loss for the period to $886.2 million.

“We had a strong financial quarter with another robust library performance and segment profit growth across our film, television and STARZ businesses,” said Lionsgate CEO Jon Feltheimer. “We are reaffirming our guidance for the full year, even with the negative impact of the strike. We are moving toward the close of an eOne acquisition that we believe will strengthen our studio business on a standalone basis. At STARZ, the reorganization, restructuring and overhead reduction reflect our focus on preparing the service to thrive as a profitable and successful standalone company.”

Within the studio segment, encompassing motion picture and television production, revenues were up 21 percent to $789.8 million, with segment profit almost doubling to $130.7 million. Motion pictures generated revenues of $395.5 million, a 77 percent gain, driven by the home entertainment release of John Wick: Chapter Four. Television production revenues, however, slipped by 9 percent to $393.9 million due to the strikes, while segment profit increased significantly to $63.2 million, driven by the delivery of the John Wick prequel event series The Continental to Peacock and Prime Video.

At the media networks segment, revenues rose by 5 percent to $416.5 million, lifted by streaming at Starz Networks and LIONSGATE+, partially offset by lower domestic linear revenue. Segment profit rose to $66.6 million. Domestic OTT subscribers were up by more than 200,000 in Q2.