Lionsgate has reported strong financial results for its fourth quarter, with John Wick: Chapter 4 and other new films boosting the mini-major’s performance.
The company said it is pushing ahead with plans to separate Lionsgate and its Starz subscription platform operation by the end of this year. It also suggested that the US writers’ strike would have a “modest” impact on Lionsgate’s financial picture, at least until it extends beyond the three-month mark. Lionsgate’s revenue for the quarter ending March 31 was $1.1bn. This is up 17% on a year-over-year basis and $92m more than Wall Street predicted. The adjusted earnings per share was $0.21. For the full fiscal year 2023, revenue was $3.85bn. Adjusted earnings per share was $0.04.
As well as franchise entry
John Wick: Chapter 4
, released near the end of the quarter and now with a worldwide gross of $428.8m, the company cited the contributions of drama Jesus Revolution and action thriller Plane. Lionsgate’s revenue from its 18,000 titles of film and TV increased to $884m in the past year, a record. Revenue from the company’s TV and film production segments increased by 25% to $823.6m and profit by 48% to $122.6m for the quarter. The film business saw a 85% increase in revenue and an 89% increase in profit. During an analyst conference call to discuss the results of the Lionsgate motion picture group, Lionsgate Chief Financial Officer Jimmy Barge said that if the current strike does not last longer than the 2008 three-month strike, it will have no significant impact. Barge said that the financial impact on Lionsgate, if there is any, will be modest up to that point.
Company’s CEO Jon Feltheimer revealed on the conference call that Lionsgate has recently acquired worldwide rights to Quentin Tarantino films
Kill bill: Vol 1
Kill bill: Vol 2 Jackie brown to add to its portfolio of Tarantino titles. Lionsgate will release a new remastered 4K version of Kill bill: Vol 1
in celebration of the film’s 20th anniversary, Feltheimer said.