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Lionsgate Q2 Motion Picture Profit Dropped 45%

Lionsgate Nov. 3 disclosed that its motion pictures business, which includes home entertainment, posted second-quarter (ended Sept. 30) operating income of $55.5 million on revenue of $224 million. That was down 45% from operating income of $101.8 million on revenue of $331 million in the previous-year period.

Motion picture revenue consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired.

Segment revenue decreased to $224 million compared with $330.9 million in the prior-year quarter. Revenue and segment profit declines reflected a tough comparison with the second quarter of fiscal 2022, which benefited from strong carryover revenue from fiscal 2021 titles.

Lionsgate’s top-grossing theatrical releases in 2022 include The Unbearable Weight of Massive Talent, Moonfall, American Underdog and Prey for the Devil.

Revenue from Lionsgate’s 17,000-title film and television library was $747 million for the trailing 12 months. The company reported library revenue from digital and physical distribution of $210 million in the quarter.

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