The studio, led by CEO Jon Feltheimer, continues its pivot to the streaming space with Starz, which could be the subject of a sale or spin-off.
The studio saw Starz revenue and segment profit still impacted by a soft first quarter where COVID-related production delays led to a slowing pace in subscriber sign-ups, but Lionsgate points to programming schedules having since got back on track.
The studio’s media networks revenue, which accounts mostly for Starz, fell to $388.9 million, against a year-earlier $406.2 million. The total global subscribers for Starz increased to 31.4 million, which includes STARZPLAY Arabia, and is underpinned by strong international and domestic streaming subscriber growth. STARZPLAY International subscribers grew 98 percent year-over-year to 8.5 million.
And motion picture revenues came to $275.3 million, up from $250.3 million in the same period of fiscal 2021, while TV production revenue rose sharply to $438.6 million, compared to a year-earlier $228.2 million.
Lionsgate as an indie studio has been a source of M&A chatter in recent months. In Nov. 2021, the company said that it would explore options for its Starz premium channel/streaming service, including a sale or spinoff. If that deal were to happen, Lionsgate would become a pure-play film and TV studio and could benefit from a beefed-up library such as that owned by STX.
Starz is a pay TV channel similar to HBO and Showtime, and also offers a streaming service. Its programming includes the
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