Lions Gate Entertainment Corp. (LGF-A) Tops Q2 EPS by 25c

Form 8-K LIONS GATE ENTERTAINMENT For: Nov 02

November 4, 2021 4:12 PM EDT

                                                Exhibit 99.1
LIONSGATE REPORTS RESULTS FOR SECOND QUARTER FISCAL 2022
Second Quarter Revenue was $887.8 Million; Operating Income was $29.8 Million; Net Income Attributable to Lionsgate Shareholders was $7.5 Million or $0.03 Diluted Net Income per Share
Adjusted OIBDA was $108.2 Million, Cash Flows provided by Operating Activities were $16.1 Million and Adjusted Free Cash Flow was $195.2 Million
Global Media Networks Subscribers were 30.0 Million; Global Streaming Subscribers Grew 40% Year over Year to 18.0 Million; STARZPLAY International Subscribers Nearly Doubled Year-Over-Year to 7.5 Million
Film & Television Library Revenue was Record $784 Million for Trailing 12 Months
SANTA MONICA, CA, and VANCOUVER, BC, November 4, 2021 – Lionsgate (NYSE: LGF.A, LGF.B) today reported second quarter (quarter ended September 30, 2021) revenue of $887.8 million, operating income of $29.8 million and net income attributable to Lionsgate shareholders of $7.5 million or $0.03 diluted net income per share on 228.5 million diluted weighted average common shares outstanding. Adjusted net income attributable to Lionsgate shareholders in the quarter was $35.2 million or adjusted diluted EPS of $0.15 on 228.5 million diluted weighted average common shares outstanding, with adjusted OIBDA of $108.2 million. Cash flows provided by operating activities were $16.1 million and adjusted free cash flow in the quarter was $195.2 million.
“I’m pleased to report another solid financial quarter with strong content generation across our business,” said Lionsgate CEO Jon Feltheimer. “Starz drove growth of 1.3 million global streaming subscribers with the strong premieres of three new series in the quarter, our Television Group launched six new series and renewed six current shows, and our Motion Picture Group added to an already robust pipeline with the production starts of nine new films. Importantly, we accomplished this and continued to ramp our content spend while also continuing to generate positive adjusted free cash flow and solid adjusted OIBDA.”
Revenue from Lionsgate’s 17,000-title film and television library was $784 million for the trailing 12 months. Lionsgate completed the acquisition of the 200-title Spyglass Media Group library in the quarter.
Second Quarter Results
Segment Results
Media Networks segment revenue of $384.7 million was comparable to the prior year quarter while segment profit decreased to $5.5 million driven by higher cadence of programming and content spend and marketing costs. Total Media Networks global subscribers increased to 30.0 million including STARZPLAY Arabia, a non-consolidated equity method investee, driven by robust domestic and international streaming subscriber growth. Global streaming subscribers increased 40% year-over-year to 18.0 million. STARZPLAY International subscribers grew 97% year-over-year to 7.5 million. 1

Motion Picture segment revenue was up 28.5% to $330.9 million while segment profit increased 22.7% to $101.8 million compared to $83.0 million in the prior year quarter, growth attributable to higher home entertainment sales and profit contributions from acquired libraries.
Television Production segment revenue of $336.0 million was up 70.4% compared to the prior year quarter and segment profit increased 187.9% to $28.5 million, reflecting the deliveries of a number of new series.
Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal 2022 second quarter results at 5:00 PM ET/2:00 PM PT this afternoon, November 4. Interested parties may listen to the live webcast by visiting the events page on the Lionsgate Investor Relations website or via https://services.choruscall.com/links/lgf211104AUdJApDA.html. A full replay will become available this evening by clicking the same link.

About LionsgateCombining the STARZ premium global subscription platform with world-class motion picture and television studio operations, Lionsgate (NYSE: LGF.A, LGF.B) brings a unique and varied portfolio of entertainment to consumers around the world. Its film, television, subscription and location-based entertainment businesses are backed by a 17,000-title library and the largest collection of film and television franchises in the independent media space. A digital age company driven by its entrepreneurial culture and commitment to innovation, the Lionsgate brand is synonymous with bold, original, relatable entertainment for the audiences it serves worldwide.###
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