Lionsgate Quarterly Revenue Pops 41% on Strength of ‘Michael,’ TV Series Sales as Studio Narrows Net Loss

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Lionsgate turned in another strong quarter — helped again by the studio’s blockbuster biopic on the King of Pop.

For the three months ended Sept. 30, Lionsgate’s Q2 of fiscal 2026, the company reported revenue of $668.8 million, up 41% year over year. Operating income came in at $29.1 million, versus an operating loss of $46.0 million a year ago.

Net loss from continuing operations attributable to shareholders of $15.5 million, or a diluted net loss per share of 5 cents.

“Our strong performance in the quarter reflects all of the pieces of our fiscal 2027 plan coming together, reaffirming our confidence in this year’s forecast of significant adjusted OIBDA [Operating income before depreciation and amortization] growth,” Lionsgate CEO Jon Feltheimer said in prepared remarks. “We had very positive momentum in the quarter as we continued to set in place our film tentpoles for the next three years. Combined with another great library performance and continued encouraging signs in our broader operating environment, we have growing visibility into our continued growth trajectory in fiscals 2028 and 2029.”

Lionsgate’s trailing 12-month library revenue was $1.04 billion — the studio’s second highest ever. Motion picture segment revenue increased 30% year-over-year to $359.3 million, and segment profit increased significantly year-over-year to $88.7 million. The results were driven by the ongoing contribution of “Michael,” which grossed over $1 billion at the box office, and continued library strength.

Television Production segment revenue increased 56% year-over-year to $309.5 million, and segment profit increased 73% versus the prior year to $21.6 million. The results were driven by what Lionsgate said was a significant increase in scripted episodic deliveries, including “Power: Origins” and the second seasons of “The Studio” (for Apple TV) and “The Hunting Wives” (for Netflix).

The company said it anticipates doubling scripted deliveries in fiscal 2027 relative to fiscal 2026.

Ten of Lionsgate’s next 15 wide theatrical releases “are repeatable branded properties,” Feltheimer said on the company’s earnings call. “With the new ‘Hunger Games,’ ‘Resurrection of the Christ’ Parts 1 & 2, ‘The Housemaid’s Secret,’ ‘Michael 2’ and ‘Naruto’ leading the way, complemented by other marquee properties in proved areas of strength, we have confidence in the earnings power of our film slate over the next three years.”

“The Hunger Games: Sunrise on the Reaping” opens in two weeks to kick off the Thanksgiving box office, and, Feltheimer touted that, “We believe that this will be one of our biggest and best Hunger Games yet.”

On the TV business, Feltheimer cited “The Rookie,” which “is growing in popularity as it heads into its ninth season.” “The Rookie: North” spinoff will arrive in January on ABC and will stream on Hulu in the U.S. and Disney+ in most international territories. In addition, “Ghosts” is exploring new spinoff opportunities as it enters its sixth season on CBS. And Lionsgate’s recent licensing deal with Netflix “is indicative of the kind of value we’re creating for the Power franchise 10 years after the original Power series launched.”

Netflix announced the third season renewal of “The Hunting Wives” before its second season launched. Season 2 of the show debut on Thanksgiving Day, and Lionsgate will begin shooting the third season at the Lionsgate Studios sound stages in Atlanta next month.

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