Lionsgate’s Jon Feltheimer gives shareholders an upbeat pep talk
The Canadian mini-studio held its first annual general meeting since acquiring Summit Entertainment to create a global powerhouse.
Lionsgate CEO Jon Feltheimer (pictured) on Tuesday told shareholders that the Canadian-based mini-studio is hitting targets as it builds towards an increasingly promising future.
“Last year, if you will recall, we spoke to you about a number of initiatives to move our company forward, including rolling out the Hunger Games franchise, launching a new TV brand with Charlie Sheen, creating more consistency with our film slate and looking to grow our overall television business,” Feltheimer told the first annual general meeting since Lionsgate acquired Summit Entertainment.
“I’m pleased to say standing here today that we’ve delivered on most of what we discussed. By acquiring Summit Entertainment and launching The Hunger Games, fiscal 2012 became a transformative year for Lionsgate that set in place the key elements for translating our content leadership into long-term profitability,” he added.
Lionsgate, holding its shareholder meeting in conjunction with the Toronto International Film Festival, also unveiled a multi-year output deal for its own and films by Summit in Spain with Alliance Films’ local subsidiary Aurum Producciones.
Feltheimer also pointed to a successful home entertainment launch for The Hunger Games, the teen tentpole that put Lionsgate on map, along with the Twilight franchise acquired from Summit.
“DVD sales have met or surpassed our expectations and, when you see the final Hunger Games digital numbers, you’ll realize that the significant monetization of the digital platforms we’ve been talking about for the past two years has finally arrived,” he said.