Streaming platform Lionsgate+, formerly known as Starzplay, has announced it will shut down its operations in Latin America, including Brazil, by the end of 2023. The decision was made after a “favorable deal” with a major distributor in the region, whose name has not been revealed.
a favorable deal
During Lionsgate’s quarterly results conference, the company’s CEO, Jon Feltheimer, explained the decision to terminate operations in Latin America: “After being approached by a major distributor in Latin America, we concluded a favorable arrangement which has motivated us to leave the territory by December 31st, while we focus on service in the US and other English-speaking countries such as the UK, Canada and Australia, and further reduce our expenses”.
Jimmy Barge, CFO of Lionsgate, also commented on the decision, explaining that the upfront payment guarantees future income that will more than offset the exit costs. Feltheimer added that the exit isn’t very impactful and that the company has the resources to cover the costs.
The future of Lionsgate+ content
Still available for now, Lionsgate+ uniquely combines content from the Lionsgate studio, whose franchises include ‘John Wick’, ‘The Hunger Games’ and ‘Twilight’, and the American pay channel Starz. Among the platform’s major original productions are acclaimed series such as ‘The Great’, ‘Gangs of London’, ‘Party Down’ and ‘The Mayfair Witches’.
Feltheimer didn’t reveal where the Lionsgate+ content will go now, but the possibility is open that the catalog will be migrated to other platforms. It is worth noting that streaming is also available in Brazil via combos on Amazon Prime Video, Globoplay and Star+ platforms.
Last year, streaming already left several markets in Europe, such as Germany, Italy and Spain, changing the platform’s previous strategy, which was expansion.
The “scheduled” release also explains the decline in streaming releases, which this month only makes available old films, such as “Dracula: The Untold Story”, “Resurrection”, “Elizabeth – The Golden Age”, “Mamma Mia : Here we go again!” and “The Cabin”.
Source: Terra
Ashley Fitzgerald is a journalist and author at Gossipify, known for her coverage of famous people and their lives. She writes about a wide range of topics, including celebrities, influencers, social media stars, and public figures. Her articles are known for their in-depth analysis and unique perspective. She is respected for her ability to keep readers up to date with the latest news and trends of the famous people.
