Revenues Down at Lionsgate in Q2

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Lionsgate reported second-quarter revenues of $745 million, with lower results in its filmed entertainment and television production segments and gains at its media networks.

The independent studio reported a quarterly loss of $18.4 million.

Media networks revenues rose by 3.8 percent to $388.3 million, with a segment profit of $92.9 million. The segment delivered strong growth in domestic OTT subscribers and increased revenue from STARZPLAY International. STARZ reported its best domestic OTT subscriber growth quarter ever with subs up to 9.2 million. Global OTT subscribers (including STARZPLAY Arabia and PANTAYA) increased by 2.3 million in the quarter to 13.7 million.

Motion picture revenues fell to $257.6 million, with the fall in theatrical revenues partially offset by the performance of titles in the premium video-on-demand (PVOD) market and digital home entertainment platforms. The studio delivered gains from its film and TV library with $166.7 million in revenue in the quarter.

Television production segment revenue declined to $197.2 million compared to $274 million in the prior-year quarter, and segment profit was $9.9 million.

“We’re pleased to report another strong quarter, including record over-the-top subscriber growth at STARZ both domestically and internationally,” said Lionsgate CEO Jon Feltheimer. “Together with the resumption of film and television production and another great revenue performance from our library, it added up to a quarter that reflected strong financial results, acceleration of our key non-financial metrics, and affirmation of the business plan we created four years ago with the acquisition of STARZ and our pivot to the streaming world.”