TV up, film down for Lionsgate Q4 results

The California and Vancouver-based company also published its full-year results, posting a 2% dip in overall revenues.

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Lionsgate is reporting an overall revenue slide of 2% for fiscal 2016, but saw a year-over-year rise in Q4 revenue thanks to its efforts on the TV side of the business.

In the fourth quarter, revenues reached $791.2 million compared to $646.1 million in 2015, though adjusted EBITDA declined to $45.8 million from $90.4 million in Q4 a year ago. The overall revenue increases in Q4 were driven by a record performance by its TV divisions, while the declines in adjusted EBITDA were attributed to weak film performance. 

TV revenues for Q4 rose to $669.9 million compared to $579.5 million in the same quarter last year, which Lionsgate attributed to a worldwide deal for Orange is the New Black and its November acquisition of Pilgrim Studios.

Net income attributable to Lionsgate shareholders for Q4 was $10.9 million, or seven cents per share, which was a decrease from $19.6 million in Q4 the previous year.

Lionsgate also released its financial results for fiscal 2016, revealing a 2% revenue decrease compared with the previous year. The full-year results told a similar story to the Q4 results, with revenue dips in Lionsgate’s film business and increases for TV.

In total, the company’s yearly revenues hit $2.35 billion, compared with $2.40 billion in 2015.

“Our television business had a record year with all categories contributing great results, and we expect its strong growth to continue this year,” said Lionsgate CEO Jon Feltheimer in the report.  “Although last year’s film slate didn’t match the performance of previous years, this year’s slate is bigger, more balanced and is expected to generate greater profitability. We also expect to continue creating long-term value by deepening our portfolio of brands and franchises and solidifying our status as a preferred partner to owners of intellectual property, third-party distributors and digital platforms worldwide.”