Lionsgate Reports Mixed Q3 Results Amid Hollywood Strikes

Despite a significant drop in TV production revenue due to strikes, Lionsgate's film division, bolstered by 'The Hunger Games' prequel, sees a revenue increase.

• Lionsgate's quarterly revenue fell to $975 million, a 2.5% decrease from the previous year, largely impacted by a 59% drop in TV production revenue due to Hollywood strikes.
• The film division experienced a 53% revenue increase, driven by the success of 'The Hunger Games: The Ballad of Songbirds and Snakes,' which grossed $338 million globally.
• Net income turned to a loss of $107 million, compared to a profit of $15 million in the same quarter last year.
• Starz added 700,000 streaming subscribers in North America, with global subscriber counts remaining stable.
• Lionsgate announced plans to split into two separate entities, focusing on the Lionsgate Studios Corporation and restructuring its streaming services for increased profitability.

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