Lionsgate Posts Revenue Gains

First-quarter revenues at Lionsgate rose by 2 percent to $909 million, with the independent studio narrowing its net loss to $70.7 million.

Revenues from Lionsgate’s film and television library increased to a record $896 million for the trailing 12 months.

“I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer. “We continued to execute our strategic agenda culminating in our signing a definitive agreement with Hasbro last week to acquire global entertainment platform eOne. The acquisition checks off all the boxes by adding thousands of titles to our library, growing our portfolio of brands and strengthening our scripted and unscripted television business.”

In the media networks segment, revenues were flat at $381.1 million, as gains in U.S. streaming and international revenues offset lower domestic linear revenues. The segment emerged from the year-ago loss to post a profit of $31.9 million. STARZ is set to exit Latin America by December 31 and focus its operations in the U.S., U.K. and Canada. Total STARZ global OTT subscribers increased by 100,000.

Film and television production revenues fell 12 percent to $625 million but segment profits rose 31 percent to $92.1 million. Motion picture revenues were up 46 percent to $406.5 million, driven by John Wick: Chapter 4, while television production fell to $218.5 million.