Lionsgate released financial results for its first quarter, demonstrating substantial improvement across key metrics. The studio reported a net loss of $28.8 million, a marked improvement from a year-earlier loss of $109 million. Overall revenues reached $776.6 million, exceeding Wall Street expectations of $693.1 million and up from $526 million in the prior-year period.
The Michael Jackson biopic directed by Antoine Fuqua served as a major revenue driver for the quarter. The film has accumulated $1.013 billion in global box office receipts, making it the highest-grossing biopic of all time and the highest-grossing Lionsgate title ever worldwide. Universal handled the film’s international distribution. The motion picture segment saw revenue surge to $587.3 million from $267.3 million year-over-year, with contributions from both Michael and ancillary revenue from The Housemaid. This performance helped the Lionsgate Motion Picture Group segment achieve profit of $105 million, marking the best first quarter in studio history.
Adjusted OIBDA reached $79.3 million, surpassing analyst forecasts of $65.5 million. However, television production revenue declined to $189.3 million from $288.5 million, attributed to timing of episodic deliveries. The studio expects television revenue and profits to strengthen in the full year, projecting nearly double the number of scripted series deliveries compared to the prior year. Additionally, the licensing of four Power series to Netflix is anticipated to boost television revenue and profits in the second half of the year.
CEO Jon Feltheimer stated the company remains positioned for growth as it executes its franchise strategy across intellectual property holdings and benefits from improved operating conditions. Trailing 12-month library revenue totaled $987 million.
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