Fewer blockbuster releases and Mad Men episodes had Lionsgate posting sharply lower first quarter revenues last week, even as earnings jumped 20%.

By Friday, Lionsgate was looking beyond the three months to June 30 and touting a stepped-up march on world markets to sell more of its content and forge more global partnerships by relocating its international sales division to London.

During the first quarter, cost-cutting helped the Vancouver-based mini-studio record a profit of $43.2 million for the three months to June 30, against earnings of $13.6 million in the same period of 2013.

At the same time, Lionsgate’s revenues for the first quarter of fiscal 2015 was $449.4 million, down 21% from a year-earlier $569.7 million.

Motion picture segement revenue fell 24.3% to $331.9M as Lionsgate had only two wide theatrical releases during the latest quarter, Draft Day and The Quiet Ones, compared to three in the same period of last year, including Now You See Me.

Lionsgate CEO Jon Feltheimer on Friday told analysts during a morning call that the transatlantic leap reflected a growing globalization of the entertainment business, and his own.

“The relocation of our international sales headquarters accelerates our evolution into a truly global organization and brings us closer to our overseas markets,” he said.

Top international sales execs at Lionsgate will relocate to the Lionsgate U.K. office in London.

The mini-studio reported record international revenues last year, and has recently expanded film output agreements in Germany, Australia, Scandinavia and the Benelux.

Lionsgate also recently announced a content partnership with the Alibaba Group in China.