The following is a summary of the Lions Gate Entertainment Corporation (LGF.A) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Lions Gate Entertainment reported Q3 adjusted OIBDA of $151 million and total revenue of $975 million.

• Consolidated revenue and adjusted OIBDA were down year over year due to difficult comparisons at television while motion picture and media networks recorded revenue and segment profit growth.

• Adjusted free cash flow for the quarter was $64 million.

• A loss of $0.45 per share was reported with a positive $0.27 per share in fully diluted adjusted earnings.

• For FY '25, adjusted EBITDA for Lionsgate Studios is forecasted to be $370 million, moving up to $430 million including the projected $60 million of post-synergies run rate adjusted OIBDA from eOne.

• The company expects consolidated adjusted OIBDA growth of 20% year over year, with key financial metrics exceeding estimates.

• Lions Gate reiterated its fiscal 2024 outlook with consolidated adjusted EBITDA target of $400 million to $450 million.

Business Progress:

• The company saw successful performances in various movie genres, and sees potential in successful franchises such as John Wick, Saw, and Hunger Games, as well as new intellectual properties.

• It saw a substantial increase in transactional revenue and has used big title movies to diversify and expand its Total Addressable Market.

• Expecting to launch Lionsgate Studios on Nasdaq under the ticker symbol, LION, in the spring, the business plans to completely separate Lionsgate and Starz to unlock value.

• Following the acquisition of eOne, the company integrated over 6,000 new titles into their library, and is also restructuring their unscripted business into Lionsgate Alternative Television.

• The company expects revenue growth from its diverse slate of 12 theatrical releases and 40 multi-platform and direct-streaming titles in fiscal '25.

• Looking ahead to FY '25, OTT revenue is projected to approach 70% by the end of the fiscal year.

• A newly formed partnership with Verizon led to an increase in subscriber counts.

More details: Lions Gate Entertainment-A IR

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