Lionsgate Narrows Q1 Loss

Lionsgate and Lionsgate Studios delivered first-quarter revenues of $834.7 million and narrowed their net loss to $59.4 million.

“We’re pleased to report a solid quarter despite unprecedented industry disruption and the aftereffects of the strikes,” said CEO Jon Feltheimer. “Our Motion Picture Group, STARZ and our library performed well, though financial results in our television segment reflected a heavily backloaded year. Importantly, we generated great momentum during and after the quarter by taking a number of steps toward full separation by calendar year-end, subject to the timing of normal regulatory approvals.”

Lionsgate Studios, consisting of the motion picture and television production operations, reported revenues of $588.4 million, a 6 percent decrease, with film down 15 percent to $347.3 million and TV up by 10 percent to $241.1 million, lifted by the acquisition of eOne.

Media networks revenues in North America inched up to $345.3 million. OTT subs increased 5.5 percent to 13.2 million compared to the prior year quarter, but overall subs fell by 500,000 amid continued contraction of the U.S. pay-TV segment.