Lionsgate Posts Record Film & TV Library Revenue


Lionsgate has reported third-quarter revenue of $1 billion, with contributions from its film and TV library rising to a record $845 million.

“We reported a strong financial quarter with record trailing 12-month library revenues affirming the value of our intellectual properties,” said Lionsgate CEO Jon Feltheimer. “We enter our fourth quarter with encouraging signs across all of our businesses: a rebounding domestic box office just as we bring our biggest slate in years to theatres; renewals of six key Lionsgate Television series during or immediately after the close of the quarter; and improved Starz economics due to its international reorganization.”

Operating income for the quarter was $7.8 million, with net income attributable to Lionsgate shareholders of $16.6 million.

Lionsgate ended the quarter with $425 million in available cash and an undrawn revolving credit facility of $1.25 billion. During the quarter, the Company purchased $124 million of its bonds for $82 million, a $42 million reduction in its net debt. During the quarter, the company sold a partial interest in StarzPlay Arabia and recognized a $43 million cash gain.

Media Networks segment revenue of $380.3 million compared to $388.9 million in the prior-year quarter, with growth in domestic streaming revenue and Lionsgate+ (previously StarzPlay International) revenue partially offset by lower domestic linear revenue.

The Studio Business, comprised of the motion picture and television production segments, reported revenue of $894.2 million, an increase of 25 percent. Segment profit of $148 million increased by 71 percent, driven primarily by strong library sales and the timing of scripted content deliveries.

Motion Picture segment revenue increased by 5 percent to $288.8 million.

Television production segment revenue increased by 38 percent to $605.4 million, and profit increased by 270 percent to $71.5 million. The revenue and segment profit increases were driven by growth in content deliveries to Media Networks and third parties, as well as strength in library sales.