🧮 "Michael" Helps Lionsgate Narrow Losses
Lionsgate reported its first-quarter fiscal results (ending in June), demonstrating a sharp surge in revenue and a significant narrowing of its net loss.
The primary catalyst behind these results was the massive success of Antoine Fuqua’s biopic Michael, which crossed $1.013 billion in global box office receipts. The film became the highest-grossing biographical motion picture in history and the largest release in the studio’s history.
Lionsgate’s consolidated revenue for the period rose 48% to $776.6 million, up from $526 million a year earlier, easily topping Wall Street’s consensus estimate of $693.1 million. The net loss attributable to shareholders narrowed to $28.8 million (compared to a $109 million loss in the same period last year). Adjusted OIBDA reached $79.3 million, outperforming analysts’ expectations of $65.5 million.
Revenue for the Motion Picture Group more than doubled to $587.3 million (up from $267.3 million a year ago), driven by Michael’s box office performance and strong secondary sales for the thriller The Housemaid. The film segment delivered a record first-quarter segment profit of $105 million. Motion Picture Group Chair Adam Fogelson confirmed that the studio is already developing a sequel, Michael 2, with principal photography slated for late 2026 or early 2027 and a release target between late 2027 and the first half of 2028.
Television segment revenue declined to $189.3 million (down from $288.5 million a year earlier) due to delivery schedule shifts for several series. However, management expects performance to rebound as it licenses four titles from the Power franchise to Netflix and doubles overall production output.
Source: Hollywood Reporter
