Lionsgate saw a significant downward turn in its Q3 earnings report, suffering a quarterly loss of $163 million amid box office struggles and lingering impacts of last year’s strikes on its television division.
In a statement, CEO Jon Feltheimer acknowledged the poor results.
“In a transitional, disrupted and difficult year for our industry, we reported disappointing financial results in the quarter,” said Feltheimer. “Our performance underscores the need to adhere even more rigorously to the risk mitigated business models, slate diversification and strict financial discipline that have always served us well.”
“The combination of a return to strong content slates, the continued stellar performance of our film and television library and sure-handed execution will put us back on the path to solid growth and shareholder value creation,” he continued.