She will work closely with Motion Picture Group chairman Joe Drake to ensure the film division’s strategic initiatives and corporate priorities encourage filmmakers’ artistic visions to thrive.
Hollingsworth will also head up the Motion Picture Group’s finance department, manage a strategic planning and analysis team, and oversee daily operations as the division positions itself for growth.
“Jen is one of the most exceptional and talented motion picture business strategists working in our industry today,” Drake said. “She knows this Company inside and out, is skilled, experienced, and is the ideal Chief Operating Officer. She has spearheaded many of Lionsgate’s successes within the Motion Picture Group and is the best at understanding the marriage of business opportunities and the creative aspirations of filmmakers. Our company just got stronger with Jen in this role.”
The move comes following a quarter of hardship for Lionsgate in the fall as motion picture segment revenues slid 33% to $362.6 million and segment profits decreased by 19.9% to $43.5 million, reflecting the underperformance of titles such as “Robin Hood,” which earned only $30.8 million in North America and $54 million internationally on a $100 million production budget. Lionsgate’s top domestic grosser in 2018 was “A Simple Favor” with $53 million.
However, during the quarter, Lionsgate’s releases “Cold Pursuit,” “Five Feet Apart” and “Tyler Perry’s a Madea Family Funeral” have over-performed expectations.
Hollingsworth joined the company in 2007. She most recently served as its executive vice president of strategic planning and operations.