Lionsgate delivered a strong third-quarter performance, cutting its losses significantly and surpassing Wall Street expectations. The company reported a net loss of $21.9 million—an 80% improvement from the $107.4 million loss in the prior-year quarter—while overall revenue held steady at $970.5 million, well above analyst projections.
Library Revenue and TV Momentum Lead the Way
One of the biggest highlights of the quarter was Lionsgate’s record-breaking library revenue, which hit $954 million over the past 12 months—up 22% year over year. This reflects the continued demand for the studio’s extensive catalog of films and TV series, which remain a valuable asset in today’s content-driven landscape.
Lionsgate’s Television Group also delivered impressive results, with revenue climbing 63% to $404.6 million. The studio is capitalizing on post-strike production momentum, with 16 scripted and 36 unscripted series currently in the works, including Power: Origins for Starz and The Studio, a Seth Rogen-led comedy for Apple TV+.
A Positive Outlook for Film and Streaming
While 2024 brought industry-wide challenges, Lionsgate saw renewed strength at the box office. The Best Christmas Pageant Ever helped lead the motion picture division to $309 million in revenue, and upcoming releases like Ballerina (a John Wick spinoff) and Antoine Fuqua’s Michael are poised to build on that success.
Meanwhile, Starz added 170,000 North American OTT subscribers sequentially, reflecting steady growth in its streaming business. Revenue came in at $341.9 million, down slightly from $346.9 million, while segment profit declined to $25.7 million from $63.3 million, impacted by higher content amortization.s.
Starz Separation Nears Completion
Lionsgate is also moving closer to finalizing the long-planned separation of Lionsgate Studios and Starz. CEO Jon Feltheimer indicates that the company expects to hold a shareholder meeting in mid- to late April to complete the process. Once finalized, both entities will have even greater flexibility to pursue their respective growth strategies.
