Lionsgate's Video Sales Slow9 Nov, 2006 By: Erik Gruenwedel
A dearth of strong theatrical drivers in home entertainment put a damper on Lionsgate's second quarter (ended Sept. 30). Video revenue came in at $115.1 million compared to $119.1 million during the same period last year.
Principle DVD titles in the quarter for the Santa Monica, Calif.-based minimajor included Akeelah and the Bee, Ultimate Avengers 2 and the ongoing sales from the strong legs of Tyler Perry's Madea's Family Reunion and related catalog releases Madea Goes to Jail and Why Did I Get Married?
Theatrical revenue increased 9% to $20.5 million from $18.8 million based on the box office success of The Descent and Crank.
The $34 million opening box office weekend for Saw III — the largest in the studio's history — occurred in the current quarter.
Total revenue increased 3.4% to $218.1 million, compared to $210.9 million last year. The studio posted a net loss of $14.3 million, compared to a loss of $14.9 million during the same period last year.