Lionsgate revealed Thursday (4/8), during its quarterly market performance report, that the Starzplay streaming platform reached 26.3 million global subscribers.
This represents an increase of 1.8 million subscribers from the last survey and a 57% increase from last year’s subscriber average.
In addition, Starzplay has surpassed Discovery + in subscriptions, proving to be able to battle with companies with much more investment power in an increasingly competitive market such as streaming. And it grew faster than HBO Max and Discovery + combined in the quarter.
“We are delighted to report strong global growth in Starz streaming subscribers, another outstanding performance from our TV group and key financial metrics in line with expectations,” said Jon Feltheimer, CEO of Lionsgate. “Even though we are navigating an uncertain economic environment, we continue to successfully fulfill our core mission: to fill our movie, television and streaming channels with premium content that creates long-term value for our consumers, partners and shareholders. “.
Analysts saw the good numbers as a selling step. Wall Street has been informed by “sources” that Lionsgate is preparing to spin off Starz and transform the pay channel and its platform into a separate company, to allow investors to separately evaluate the company’s television and film assets.
Lionsgate’s overall revenue for the quarter, however, decreased. It was $ 893.9 million, slightly below the result achieved in the same period last year, when it was $ 901.2 million. The firm also extended its quarterly net loss to a negative $ 119 million, more than double the previous year’s $ 45.4 million loss.
The studio’s media sources of income, which mostly correspond to Starz’s advertising revenue, amounted to $ 381.2 million, down slightly from $ 382.3 million a year earlier.
But that was offset by Starzplay’s revenue, which increased to $ 31.6 million from subscription payments during the last quarter, up from $ 24.1 million for the same period in 2022.
Additionally, television production revenues increased significantly to $ 423.3 million from $ 386.1 million a year earlier, due to increased distribution of content to third parties such as Netflix.
Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
