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Lionsgate exceeds Q1 expectations, posts US$964M in revenue

Global content creator Lionsgate exceeded Wall Street estimates on Thursday (Aug. 8), reporting US$963.6 million in revenue for the first quarter. The company’s media networks segment revenues rose 4.9% to $372.4 million – up ...
August 9, 2019

Global content creator Lionsgate exceeded Wall Street estimates on Thursday (Aug. 8), reporting US$963.6 million in revenue for the first quarter.

The company’s media networks segment revenues rose 4.9% to $372.4 million – up from $354.9 million in 2018 – driven by subscriber growth to STARZPLAY, Liongate’s OTT service.

Subscribers to the SVOD jumped 400,000 to 4.4 million, its third best subscriber growth quarter ever.

Segment profits for the domestic Starz Networks business – which Lionsgate acquired for $4.4 billion in 2016 – increased by 3.4% to $103.7 million, which was offset by continued investment in STARZPLAY.

As a result of that investment, overall segment profit for Starz Networks declined from the prior year quarter to $60.6 million.

Starz ended the quarter with 26.5 million global subscribers, up 2.6 million from the prior year quarter, and 24.4 million total domestic subscribers.

“We’re pleased to report strong financial results in the quarter and a great start to the fiscal year,” said Lionsgate CEO Jon Feltheimer in a statement. “Our television group had its best development season ever… and Starz achieved strong growth in its domestic OTT business while continuing to expand its premium SVOD platform around the world.”

Though revenues jumped from $932.7 million in 2018, the company reported a $54 million loss, or $0.25 per share. Adjusted operated income landed at $67.3 million.

About The Author
Daniele Alcinii is a news editor at realscreen, the leading international publisher of non-fiction film and television industry news and content. He joined the RS team in 2015 with experience in journalism following a stint out west with Sun Media in Edmonton's Capital Region, and with communications work in Melbourne, Australia and Toronto. You can follow him on Twitter at @danielealcinii.

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