Lionsgate’s global streaming subscriber base in the third quarter of fiscal 2021 rose to 14.6 million, reflecting 52 percent of its total media networks customer base.
The independent studio’s media networks division had 28 million total subscribers globally at the end of the third quarter, with global OTT subs up by 900,000. STARZPLAY International OTT customers were up 26 percent, while the U.S. base increased by 300,000.
Media networks revenues rose by 6 percent to $406.2 million, with segment profit down 20 percent to $81.7 million as a result of increased investment in content and marketing. Motion picture revenues were $250.3 million with a segment profit of $50 million. Television production revenues were up 20.5 percent to $228.2 million with a segment profit of $29.5 million compared to a loss of $5.7 million in the prior year quarter.
Overall revenues in Q3 fell to $836.4 million, with a smaller net loss of $13.9 million.
“We’re pleased to report our fourth strong quarter in a row—strong in terms of financial results, global subscriber growth at STARZ and another outsized library performance, all reflecting the continued resilience of our business model,” said Lionsgate CEO Jon Feltheimer. “With the strong year we’re having in F21, we’re in great shape to take advantage of the imbalance between content supply and demand in the current environment with an increased investment in content and marketing across our core businesses in F22.”