Lionsgate CEO Jon Feltheimer reassured shareholders on Tuesday that the studio behind "Twilight" and "Orange is the New Black" will be able to take advantage of the technological changes upending the media business. His remarks come as the summer box office has hit its lowest levels in nearly two decades, and as streaming services such as Netflix continue to build their audiences, providing compelling alternatives to tradition cable services. Lionsgate has weathered the headwinds better than some, it scored with...
No company has undergone a more dramatic transformation in the 21st century than Lionsgate, and for that, stockholders have Jon Feltheimer to thank. Today, Lionsgate is Hollywood’s largest indie with $2.4 billion annual revenue built on organic growth and acquisitions. Those acquisitions include the $4.4 billion acquisition of premium pay TV’s Starz, Summit Entertainment (“Twilight”) in 2012, and a UK theatrical distributor in 2005.
When Feltheimer arrived in 2000, then-movie-centric Lionsgate generated just $8 million in TV program revenue; that now approaches $1 billion annually. Coming over to the company with considerable experience growing the TV business at Sony Pictures Entertainment, Feltheimer helped Lionsgate click with series like “Mad Men,” “Orange Is the New Black” and “Will & Grace.”
Feltheimer’s vision going forward includes: building direct-to-consumer video platforms with Tribeca Enterprises, Comic-Con and Kevin Hart’s Laugh Out Loud; expanding Lionsgate’s China base co-financing films and via a multifaceted tie-up with Le Eco/Le Vision Pictures; growing 50%-owned Pop basic cable network (formerly TV Guide Network); and cultivating more movie franchises like “The Hunger Games.” “There are a lot more stories to be told, and we’re ready to tell them when our creators are ready to tell those stories,” he said in August.
Feltheimer signed a five-year extension with Lionsgate in October 2016; he received $35.3 million in compensation for the fiscal year ended March 31, more than triple the $10.9 million from the previous year. Feltheimer sits on the board of Mexican TV giant Televisa. He is a graduate of Washington University in St. Louis.