Lionsgate was able to cut its losses in the final quarter of 2024 thanks in good part to revenue from its film and television library while it tries to ramp up its post-strike TV production and recover from a deep box office slump.
Earnings loss: Lionsgate reported a net loss attributable to shareholders of $21.9 million, or 9 cents per share. That’s an 80% drop from the $107.4 million loss reported in the prior year quarter, during which SAG-AFTRA reached a deal with studios to end the industry work stoppage in 2023.
Revenue beats projections: Overall revenue for Lionsgate came in at $970.5 million, slightly down from the $975 million from a year prior but above projections of $922 million from industry analysts.
“I’m pleased to report a strong quarter in which our businesses performed well in a challenging environment,” said Lionsgate and Lionsgate Studios CEO Jon Feltheimer. “We approach the separation of the studio and STARZ with a record performance from our library, our Motion Picture Group converting a number of midbudget films to profitability, our Television Group shepherding an extensive portfolio of premium properties and STARZ returning to domestic OTT subscriber growth on a sequential basis.”
More to come…
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