‘Michael’ Boosts Lionsgate Quarterly Results as Studio Narrows Loss to $29 Million

By Todd Spangler

Todd Spangler

NY Digital Editor

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Shamone! Record-breaking biopic “Michael” helped Lionsgate‘s movie division turn in a profit of $105 million — its best-ever result for a June quarter.

Lionsgate’s Motion Picture segment revenue of $587.3 million more than doubled from the prior-year quarter. The segment profit was up from a nominal $2.4 million in the year-ago period. The company said the results were driven by the success of recent theatrical releases, including “Michael,” the highest-grossing biopic of all time that has crossed $1 billion at the global box office, and strong “ancillary” performance of “The Housemaid,” starring Amanda Seyfried and Sydney Sweeney.

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