Revenues rose at Lionsgate to $963.6 million in the first quarter, driven in part by gains at Starz.
Starz ended the quarter with 26.5 million total global subscribers, an increase of 2.6 million from the prior-year quarter. Starz’s U.S. OTT subscribers were up by 400,000 to 4.4 million.
“We’re pleased to report strong financial results in the quarter and a great start to the fiscal year,” said CEO of Lionsgate Jon Feltheimer. “All of our businesses are performing well. Our television group had its best development season ever, John Wick: Chapter 3 reaffirmed our thesis that mid-priced action films have a valuable place in the market, and Starz achieved strong growth in its domestic OTT business while continuing to expand its premium SVOD platform around the world.”
Media networks revenues rose by 4.9 percent to $372.4 million. Motion picture revenues increased by 8.9 percent to $397.8 million thanks to John Wick: Chapter 3—Parabellum. Television production revenues were stable at $279.8 million.
Net loss attributable to Lionsgate shareholders grew to $54 million.