Lionsgate Misses Revenue, Profit Targets For Fiscal Q4, But Streaming A Bright Spot As Subscriber Level Hits 35.8M

Lionsgate Misses Revenue, Profit Targets For Fiscal Q4, But Streaming A Bright Spot As Subscriber Level Hits 35.8M
Streaming was a silver lining for Lionsgate on Thursday in an otherwise downbeat report of its fiscal fourth quarter results, which was released Thursday and showed revenue and earnings below Wall Street expectations.

Revenue totaled 930 million in the period ending March 31, with earnings per share of 6 cents. Analysts had been calling for 961 million and 8 cents a share in those key metrics.

The company far exceeded analysts’ consensus expectation of adding 3 million streaming subscribers in the period, tacking on 4.4 million to reach a total of 35.8 million.

Of the overall total, 12.8 million subscribers were attributed to the StarzPlay International consortium, with the remainder on Starz. The Starz subscriber levels rose 47 year over year, with StarzPlay International rising by almost double that rate.

Starz, the premium network brand acquired by Lionsgate in 2016, has been in talks in recent months for a sale of a stake or potentially a full acquisition by a new owner.
See full article at Deadline »

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