“Our television business had a record year with all categories contributing great results, and we expect its strong growth to continue this year,” said Lionsgate Chief Executive Officer Jon Feltheimer.  “Although last year’s film slate didn’t match the performance of previous years, this year’s slate is bigger, more balanced and is expected to generate greater profitability.  We also expect to continue creating long-term value by deepening our portfolio of brands and franchises and solidifying our status as a preferred partner to owners of intellectual property, 3^rd-party distributors and digital platforms worldwide.”

Full year review:  Revenue of $2.35 billion for the year compared to revenue of $2.40 billion in the prior year. Net income attributable to Lionsgate shareholders for the year was $50.2 million or EPS of $0.34 on 148.5 million weighted average number of common shares outstanding compared to net income attributable to Lionsgate shareholders of $181.8 million or EPS of $1.31 on 139.0 million weighted average number of common shares outstanding during the prior year. Adjusted EBITDA of $162.3 million compared to adjusted EBITDA of $384.9 million in the prior year.  Adjusted net income attributable to Lionsgate shareholders of $127.4 million or adjusted EPS of $0.86 for the year compared to adjusted net income attributable to Lionsgate shareholders of $257.5 million or adjusted EPS of $1.85 in the prior year.  Declines in full year adjusted EBITDA and EPS from the prior year were attributable to lower film performance that offset gains in television revenue and margins.

Fourth quarter review: Revenue in the quarter reached $791.2 million compared to $646.1 million last year. Net income attributable to Lionsgate shareholders for the quarter was $10.9 million or EPS of $0.07 on 148.5 million weighted average number of common shares outstanding compared to net income attributable to Lionsgate shareholders of $19.6 million or EPS of $0.14 on 140.4 million weighted average number of common shares outstanding during the prior year quarter. Adjusted EBITDA declined to $45.8 millionfrom $90.4 million last year. Adjusted net income attributable to Lionsgate shareholders of $39.5 million or adjusted EPS of $0.27 for the quarter compared to adjusted net income attributable to Lionsgate shareholders of $57.8 million or adjusted EPS of $0.41 in the prior year.  Revenue in the quarter increased 22% from the prior year quarter due to record television revenue and increased theatrical box office from five wide releases compared to three wide releases in the prior year quarter.  Adjusted EBITDA and EPS declined in the quarter due to softer performance of the film slate.

For the full year overall Motion Picture segment revenue was $1.68 billion compared to $1.82 billion in the prior year. Theatrical revenue declined to $314.1 million from $354.0 million.  Lionsgate’s home entertainment revenue from motion picture and television production for the year was $640.1 million compared to $707.5 million in the prior year, reflecting the composition and performance of the slates of wide release theatrical titles.  International Motion Picture segment revenue of $548.2 million for the year increased from$495.0 million in the prior year driven by increased number of titles distributed.

Record Television production segment revenue of $669.9 million increased from $579.5 million in the prior year quarter.  Gross Segment contribution margins in the Company’s television business continued their growth trajectory in the year improving to 15.5% from 9.5%. Domestic television revenues were comparable to the prior year while International revenues increased to $190.2 millionfrom $112.4 million. Key drivers to overall revenue included a new global deal for Orange is the New Black and the Pilgrim Studios acquisition from November 2024.

Lionsgate’s filmed entertainment backlog, or already contracted future revenue not yet recorded, achieved record levels of approximately $1.5 billion at March 31, 2024, increasing from $1.3 billion at December 31, 2024.

During the quarter, the Company declared a quarterly cash dividend of $0.09 per common share payable on May 27, 2024 to shareholders of record as of March 31, 2024.

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