Lionsgate Reports Uptick in Q3 Studio Profit, Streaming Subscribers
February 9, 2023
Lionsgate Feb. 9 reported studio third-quarter (ended Dec. 31, 2022) operating income of $76.5 million on revenue of almost $289 million. That compared with operating income of $67.5 million and revenue of $275.3 million during the previous-year period.
The studio business includes the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of movies produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired.
Santa Monica, Calif.-based Lionsgate said it ended 2022 generating a record $845 million in catalog and licensed content revenue for the trailing 12-month period. That was up from $700 million at the end of 2021.
Separately, premium TV and over-the-top video distribution platform Starz ended the quarter with 21 million domestic subscribers, up 1.1 million subs from 19.9 million in the previous-year period. Lionsgate+ (formerly StarzPlay) ended the period with 15.2 million subscribers across 35 countries (excluding the United States). That was up almost 79% from 8.5 million subs in the previous-year period.
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Independently-owned StarzPlay Arabia ended the period with 2.1 million subs, up 100,000 subs (2 million) last year. During the quarter Lionsgate sold a partial interest in StarzPlay Arabia and recognized a $43 million cash gain.
“We reported a strong financial quarter with record trailing 12-month library revenues affirming the value of our intellectual properties,” CEO Jon Feltheimer said in a statement.