Lionsgate Studios, now a separate public company focusing on movies and television, has reported strong fourth-quarter financial results. This marks the first report since the media company split its studio operations from Starz, creating two publicly traded companies.
In the quarter ending March 31, 2025, Lionsgate Studios earned $21.9 million in net profit, compared to a $47 million loss during the same period last year. Revenue increased by 22%, reaching $1.06 billion, up from $879.9 million a year ago.
During the quarter, Lionsgate released Flight Risk and Den of Thieves 2: Pantera in theatres. It also produced scripted TV series like The Rookie, Ghosts, and Acapulco. The studio licensed The Chosen to Amazon Prime and The Rookie to Disney+, and premiered the comedy The Studio, created by Seth Rogen and Evan Goldberg, on Apple TV+.
The company’s adjusted earnings per share were 21 cents, reversing last year’s loss of 5 cents. Adjusted operating income before depreciation and amortisation (OIBDA) rose 49% to $138.3 million.
Lionsgate’s Motion Picture division made $526.4 million in revenue, up 28% from $410.6 million last year. The TV Production unit generated $543.3 million, a 16% increase from $469.3 million, as more episodes were delivered this year compared to the strike-affected 2024.
Segment profit for Motion Pictures rose sharply to $135.3 million from $82.2 million. However, profit for the TV Production division dropped to $40.6 million from $52.6 million, as the previous year benefited from a major content library sale to MGM+.
During a post-earnings call, CEO Jon Feltheimer expressed excitement about The Hunger Games: Sunrise on the Reaping, which recently cast Jesse Plemons, Ralph Fiennes, Kieran Culkin, and Elle Fanning. He mentioned that the film, based on Suzanne Collins’ novel, had generated strong buzz at the Cannes Film Festival.
Jon Feltheimer, CEO, Lionsgate, said, “It has generated a ‘major uptick in the sales of all of the Hunger Games library titles.”
He also revealed that the highly anticipated Michael, a Michael Jackson biopic, might be pushed from fiscal 2026 to 2027. The film, currently over three and a half hours long, is being reviewed for its release strategy.
Adam Fogelson, Chair of the Motion Picture Group, said, “Whether that can be fit into one movie comfortably or not is a question that we are absolutely asking,” noting that splitting the film into two parts is being considered.
“When Jon (Feltheimer) mentioned footage, it wasn’t a cut, it was an accumulation of scenes that we’ve seen,” Fogelson clarified.
Fogelson also discussed The Resurrection of the Christ, directed by Mel Gibson and produced by Bruce Davey, as a major upcoming project. Lionsgate is partnering with Gibson on this sequel to The Passion of the Christ.
“There are tons of people, both in the international marketplace and elsewhere, who are really excited about finding a way to participate in this,” Fogelson said. “I would not put this as anything other than an incredibly exciting opportunity, both creatively and financially.”
Lionsgate Studios, now listed on NASDAQ, still works closely with Starz, producing series like Power, BMF, P-Valley, and the upcoming The Hunting Wives. Starz has around 20 million U.S. subscribers across cable, satellite, and streaming platforms.
Feltheimer explained that separating Lionsgate and Starz gives each company flexibility in a changing media environment. “The separation of Lionsgate and Starz doesn’t diminish the headwinds in our operating environment, but it does give both companies more flexibility in responding to them,” he said.
Vice Chairman Michael Burns addressed questions about future mergers or acquisitions, “Obviously, we’re not ready to give away our equity at these levels,” he said.
Kevin Beggs, head of Lionsgate TV, said the current market remains cautious, as studios and streamers cut back on spending. “There’s still a lot of uncertainty in the market, which typically dampens buying,” he said.
Feltheimer also commented on U.S. President Donald Trump’s mention of a 100% tariff on foreign films, suggesting a federal tax credit would be a better option.
Jon Feltheimer, CEO, Lionsgate, said, “I think there’s probably some smarter ways, other than tariffs, to support our business and support the overall U.S. economy.” He added, “The reason we did it was multi-purpose, to allow both companies to go forward with a path that is specific to their core business.”