The box office success of “The Hunger Games: The Ballad of Songbirds and Snakes” was not enough for Lionsgate Entertainment to offset the shutdown of TV production by the Hollywood strikes, causing the Hollywood studio’s revenue to drop 2.5% year-over-year.
Here are the top-line results from Lionsgate’s quarterly report released Thursday:
Revenue: Overall revenue fell from $1 billion the prior quarter to $975 million. The biggest drop came in Lionsgate’s TV division, which suffered a 59% year-over-year drop to $248.4 million as the strikes shut down production for 191 days.
Net loss: Income fell to a loss of $107 million, compared to net income of $15 million in the prior year quarter.