Lionsgate delivered improved revenues of $998.5 million in Q3, driven by its media networks and motion picture segments, but swung to a loss of $97.8 million in the period.
“Our motion picture group turned in a strong performance in the quarter, led by the worldwide box office success of Knives Out, while our television group secured a number of important scripted series and pilot commitments and Starz continued to grow its over-the-top platform worldwide,” said CEO Jon Feltheimer. “Our StarzPlay international rollout remains on track to achieve financial and subscriber targets that we expect to translate into meaningful incremental value creation.”
Overall media networks revenues were up 4.3 percent to $382.4 million but segment profit fell to $102.1 million following costs associated with the StarzPlay international rollout. Global subscribers from Starz, StarzPlay Arabia and Pantaya reached 28.5 million in the quarter, and global OTT subscribers reached 8.6 million. Total subscriptions were up 8 percent year-on-year.
Thanks to Knives Out, motion picture revenues rose by 30.7 percent to $473.9 million, with a segment profit of $49 million.
Television production revenues fell to $189.4 million and the segment recorded a loss of $5.7 million, primarily due to the timing of production schedules and episodic deliveries, including development costs and deficits for new series.