While the pandemic wreaked havoc on the theatrical business, home entertainment remained strong for Lionsgate in fiscal year 2021, ended March 31. Home entertainment revenue, which is derived from the sale or rental of feature films and television production movies or series on packaged media and through digital media platforms, represented 55.6%, or $601 million of motion picture revenue in the fiscal year.
That was down about 15% from $704.8 million in home entertainment revenue in fiscal year 2020. The primary decline was in packaged media, which saw total revenue fall almost 46% to $139.5 million from $256.9 million in FY 2020. Lionsgate, which shipped 29 million combined DVD/Blu-ray Disc units in the year, attributed the revenue drop to fewer home entertainment releases from the 2021 theatrical slate due to the global pandemic and other issues.
The decrease in packaged-media revenue was partially offset by increased digital media revenue of $13.6 million, which included titles The Secret: Dare to Dream and Force of Nature. Digital media revenue included the PVOD release of Antebellum, the initial release on a streaming platform of Run and from I Still Believe and Knives Out in 2020. Digital media revenue in fiscal 2020 included significant revenue from John Wick: Chapter 3 — Parabellum.
Top-selling digital releases in the year included Antebellum, The Secret: Dare to Dream, The Silencing and Mortal reaching number one on the iTunes movie charts and two titles, Force of Nature and The Secret, debuting at number one on the Comscore On-Demand Chart.
Home entertainment revenue from TV product in fiscal 2021 increased $72 million, or 118.4%, compared with fiscal 2020, driven by digital media revenue for the second syndication license of “Mad Men” and digital media revenue for Power: Season 6, partially offset by digital media revenue in fiscal 2020 for Power: Season 5.
Interestingly, packaged-media sales of television shows increased 67.6% to $5.7 million, from $3.4 million in 2020.