Lionsgate Q1 Home Entertainment Revenue Declines

Lionsgate Aug. 8 disclosed it sold $56.4 million in combined DVD/Blu-ray Disc movies in the first quarter, ended June 30. The tally was down 26% from revenue of $76.5 million during the previous-year period.

Sales and rental of digital titles dropped less than 4% to $83.3 million from $86.2 million.

Total motion picture home entertainment revenue dropped about 14% to $139.7 million from $162.7 million last year.

Home entertainment revenue from television content plummeted nearly 60% to $7.3 million from $18.1 million last year.

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Disc revenue topped $1.4 million, down about 23% from $1.8 million. Digital revenue fell almost 64% to $5.9 million from $16.3 million.

Meanwhile, theatrical revenue skyrocketed to $121.8 million from $50.3 million, driven by the box office success of John Wick: Chapter 3 – Parabellum, which has generated $320 million at the global box office.

“[John Wick] reaffirmed our thesis that mid-priced action films have a valuable place in the market,” CEO Jon Feltheimer said in a statement.

The title’s box office success bodes well for home entertainment.

John Wick 3 is slated for retail digital release on Aug. 23, with packaged media bowing Sept. 10.