Lionsgate Q2 Home Entertainment Revenue Declines6 Nov, 2014 By: Erik Gruenwedel
Fewer retail releases contributed to Lionsgate Nov. 6 reporting a 22% decline in second-quarter (ended Sept. 30) home entertainment revenue to $164.4 million, compared with revenue of $209.2 million during the prior-year period.
The Santa Monica, Calif.-based mini-major said the decline was due to strong performances from managed brand releases and Now You See Me in the prior-year quarter, partially offset by the strong home entertainment performance of Divergent in Q2. Home entertainment revenue from television production increased in the quarter due to gains in digital media revenue, including subscription VOD.
Indeed, 55 episodes and 38.5 hours of domestic television series were delivered in the quarter, including episodes of “Manhattan,” “Anger Management,” “Orange Is the New Black,” “Houdini,” “Nashville” and “Mad Men,” compared with 20 episodes and 11 hours in the prior-year quarter. Strong international sales of “Orange Is the New Black,” “Nashville” and “Anger Management” also were reported in the quarter.
Overall, Lionsgate reported net income of $20.8 million on revenue of $553 million, compared with net income of $500,000 and revenue of $498.7 million during the prior-year period.