Lionsgate’s film division achieved exceptional financial results in its most recent quarter, driven largely by the commercial triumph of the Michael Jackson biopic “Michael.” The motion picture segment generated $105 million in profit, marking the strongest performance for a June quarter in company history. Revenue within the segment reached $587.3 million, more than doubling compared to the same quarter in the previous year.
The record-breaking success of “Michael,” which has become the highest-grossing biopic ever made with over $1 billion in global box office earnings, was complemented by strong ancillary performance from “The Housemaid,” starring Amanda Seyfried and Sydney Sweeney. These theatrical successes represent a dramatic turnaround from the prior-year period, when the motion picture segment earned only $2.4 million in profit.
Capitalizing on this momentum, Lionsgate has greenlighted a sequel to “Michael,” with production expected to commence late this year or early next year. Film division leadership indicated the follow-up installment would likely arrive in late 2027 or early 2028. The company plans to repurpose previously filmed material, including elaborate musical sequences, to manage production costs while delivering an ambitious sequel.
Overall, Lionsgate’s net loss narrowed significantly to $28.8 million for the quarter, compared to a $94 million loss in the prior-year period. The company’s trailing 12-month library revenue reached $987 million, while its filmed entertainment backlog increased 21 percent year-over-year to $1.5 billion.
Originally reported by Variety →
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