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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