Lionsgate Sees Streaming Sub Gains in Q1

Lionsgate reported that it beat expectations in subscriber growth in the first quarter as it posted revenues of $893.9 million and a wider loss of $119 million.

“We are pleased to report strong global streaming subscriber growth at STARZ, another standout performance from our television group and key financial metrics in line with expectations,” said Lionsgate CEO Jon Feltheimer. “Though we’re navigating an uncertain economic environment, we continue to successfully execute our core mission: filling our film, television and STARZ pipelines and our library with premium content that creates long-term value for our consumers, partners and shareholders.”

Media network revenues slipped slightly to $381.2 million as lower domestic linear revenues were offset by gains in U.S. and international streaming. Total media networks global subscribers increased to 37.3 million. Global streaming subscribers increased 57 percent year-over-year to 26.3 million. STARZPLAY International subscribers doubled to 14 million.

Motion picture and television production revenues in the studio segment were up 5 percent to $711.1 million. TV production alone was up 12 percent to $432.3 million, while motion picture revenues fell by 4 percent.