Lionsgate's Film Studio Shines, Ad Revenue Slumps in Q3 Amid Biopic Buzz

In the third quarter of 2025, Lionsgate Studios experienced a mixed performance, with its film division seeing a revenue decline but a significant profit increase, while the television production segment faced challenges due to the timing of episodic deliveries.

The Motion Picture segment of the standalone studio reported revenue of $276.4 million, down from $409 million a year earlier, as the company released two wide releases compared to five in the same period last year. However, the two films were better received, and the segment's profit jumped to $30.5 million from $1.7 million.

On the television side, revenue fell to $198.7 million from $24.4 million, reflecting the timing of episodic deliveries, some of which were pushed into the second half of the fiscal year. Consolidated revenue for the quarter stood at $475 million, down from $604 million.

Despite the mixed results, Lionsgate CEO Jon Feltheimer expressed optimism, stating that the company has "readied a film slate primed to deliver strong growth over the next 18 months and refilled its television pipeline with key series renewals and breaking new shows." The company also reported a record $1 billion in trailing 12-month library revenue, which Feltheimer said "highlights our entire portfolio of intellectual property."

Adding to the company's recent developments, Lionsgate unveiled the first trailer for its long-gestating biopic "Michael," which is set to hit theaters in April 2026. The film, directed by Antoine Fuqua and starring Jaafar Jackson as the pop icon, has generated significant buzz in the industry.

Amid these shifts, billionaire investor Steven Cohen has tripled his position in Lionsgate, with his Point72 Asset Management acquiring over 10 million shares worth more than $64 million. This move underscores the potential that Cohen sees in the studio's future prospects.