‘Knives Out’ Boosts Lionsgate Revenues Above Wall Street Projections

Citing strong performance from “Knives Out,” Lionsgate has posted revenues and operating income above Wall Street projections for its third fiscal quarter that ended on Dec. 31.

Revenue were $998.5 million, 8% above Wall Street forecasts, and adjusted operating income of $124.5 million beat estimates by 11%. Subscribers from Starz, Starzplay Arabia and Pantaya reached 28.5 million in the quarter and global OTT subscribers reached 8.6 million for am 8% gain in global subscribers. Adjusted earnings per share were 14 cents, well below forecasts for 18 cents.

Knives Out” has grossed $155 million in North America and $294 million worldwide. Rian Johnson received an Oscar nomination in the Best Original Screenplay category for the murder mystery, which stars Daniel Craig, Jamie Lee Curtis, Chris Evans and Ana de Armas.

“Our Motion Picture Group turned in a strong performance in the quarter, led by the worldwide box office success of ‘Knives Out’ while our Television Group secured a number of important scripted series and pilot commitments and Starz continued to grow its over-the-top platform worldwide,” said Lionsgate CEO Jon Feltheimer. “Our Starzplay international rollout remains on track to achieve financial and subscriber targets that we expect to translate into meaningful incremental value creation.”

Lionsgate’s film operation saw revenue rise 30% to $473.9 million with segment profit of $49 million with the studio crediting the strong performance of “Knives Out” along with the ancillary results for “John Wick: Chapter 3 – Parabellum.” Earlier this week, it released the first trailer for “Spiral,” its reboot of the “Saw” franchise with Chris Rock and Samuel L. Jackson starring. “Spiral” will be released on May 15.

Feltheimer said during the conference call that the studio is planning production starts for both “John Wick 4” and a “Knives Out” sequel. Joe Drake, president of the Lionsgate Motion Picture Group, said the studio will announce a release date for “Chaos Walking” within the next few days. Tom Holland and Daisy Ridley are starring in the sci-fi movie, directed by Doug Liman, which was originally set to be released last year.

“We’ve two of our biggest stars on the planet today leading that,” Drake added.

The media networks segment, driven by Starz, reported a 4.3% gain in revenues to $382.4 million while networks profit declined 24% to $102.1 million. Lionsgate said the drop in profit was due to the company’s investment in Starzplay International, which is expected to see subscriber growth to between 15 and 25 million over the next five years.

Lionsgate announced shortly after the earnings announcement that the Starzplay international streaming service will split first pay streaming rights in the UK to Lionsgate’s recently released and upcoming feature films.

The TV production segment reported a loss of $5.7 million, which Lionsgate said was due to the timing of production schedules and episodic deliveries. Revenue for TV production was $189.4 million. New series launches included “Zoey’s Extraordinary Playlist” at NBC, “Mythic Quest: Raven’s Banquet” at Apple, and “Manhunt: Deadly Games” at Spectrum. New series ordered included “First Ladies” at Showtime and “Run The World” for Starz.






More TV

  • Caroline Flack

    'Love Island' Returns to Air As ITV Defends Treatment of Caroline Flack

    ‘Love Island’ was back on air Monday for the first time since the death of former host Caroline Flack on Feb. 15. Amid the reality series’ return, broadcaster ITV insists it supported the star after she was removed from the show. Monday night’s episode began somberly with narrator Iain Stirling providing voiceover over scenes of [...]

  • Tiffany BooneEntertainment Weekly Pre-SAG Party, Arrivals,

    Actor Tiffany Boone Addresses Her Decision to Quit 'The Chi'

    Actor Tiffany Boone addressed her exit from “The Chi,” the Showtime series she departed in November 2018 after making harassment allegations against her former co-star Jason Mitchell. Mitchell was fired from the show last May as a result of intimidation and abuse accusations made by Boone and showrunner Ayanna Floyd Davis. Mitchell was subsequently dismissed [...]

  • Amazon Prime nabs ‘Russian Affairs’ for

    Amazon Prime Nabs ‘Russian Affairs’ for Germany, France and the Netherlands

    Amazon Prime Video has acquired the first season of series “Russian Affairs” for distribution in Germany, France and the Netherlands, from Russia’s Start Studios. The eight-part drama that follows the lives of Russia’s elite and those who aspire to that position is set in contemporary Moscow. Under the title “Gold Diggers,” the series was broadcast [...]

  • MODEL RELEASED Mother with baby, 1

    Channel 4 Orders ‘Baby Surgeons’ From Wonderhood Studios

    U.K. broadcaster Channel 4 has commissioned Wonderhood Studios for a documentary series with the working title “Baby Surgeons.” The series will explore the journeys parents go through to save their babies during complex pregnancies and will feature cutting-edge baby surgeries, some performed inside the womb. It will also use CGI, MRI and Ultrasound to enhance [...]

  • Bertelsmann CEO Says RTL, ProSiebenSat.1 Should

    Bertelsmann CEO Says RTL, ProSiebenSat.1 Should Be Free to Merge

    The CEO of German media giant Bertelsmann has said its RTL Group TV division should be allowed to merge with German rival ProSiebenSat.1 and called for a loosening of E.U. antitrust regulations in order to better stave off intensifying competition from U.S. streaming giants. In an interview with German newspaper Frankfurter Allgemeine Sonntagszeitung published on [...]

  • Politicians and Petition Support BBC Following

    Politicians and Petition Support BBC Following Reports of Major Cuts

    A war of words around the future of the BBC continued on Monday amid reports of severe cutbacks to the U.K. public broadcaster. The Sunday Times reported over the weekend that Downing Street, the seat of the U.K. government, was planning to replace the annual BBC license fee with a subscription service; sell most of [...]

  • Stanley Tucci

    Stanley Tucci to Host BBC Radio 4 Series 'The Californian Century'

    Actor and filmmaker Stanley Tucci will front series “The Californian Century,” set to air on BBC Radio 4. Tucci will play a cynical screenwriter who narrates the stories of ten people who helped build California over the last 100 years. They include Francis Boggs, the first person to direct a full movie in California; Hattie [...]

More From Our Brands

Access exclusive content