Lionsgate Still in Red Despite 48% Revenue Growth From ‘Michael’
Segment profit for the studio's film division rose to a second quarter record $105 million thanks to the Antoine Fuqua biopic The post Lionsgate Still in Red Despite 48% Revenue Growth From ‘Michael’ appeared first on TheWrap .
Lionsgate's revenue increased by 48% to $776 million in the second quarter of 2026, driven by the impressive 48% year-over-year growth in domestic box office sales for the film "Michael." However, the studio remains in the red, recording a diluted net loss of 10 cents per share, down from a 32 cent loss per share in the prior year quarter.
Despite the film's success, sagging TV revenue contributed to the loss. "Michael" grossed $371 million in the U.S. and Canada, marking Lionsgate's third-highest grossing film of all time. The studio's CEO, Jon Feltheimer, sees the quarter as a step forward as Lionsgate pushes towards profitability following the spin-off of Starz last year.
The company aims to become a stronger and more consistent theatrical presence with a slate of upcoming films and TV series.
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