Turner made a splash this month in the already crowded SVOD field with their launch of FilmStruck; a collaboration between Turner Classic Movies and The Criterion Collection.
Below are my key takeaways from the Lionsgate Q2 2016 (their First Quarter Fiscal 2017) Earnings Call on Aug 4:
Jon Feltherimer, CEO, said in his opening remarks, “During the quarter, we took significant steps to scale our content portfolio, and expand its access to world class distribution. Upon closing, our acquisition of Starz will be the largest and most transformative transaction in our history.”
Lionsgate agreed to buy premium channel Starz for $4,400MM and is expected to close by year end. The deal will have savings in production, manufacturing and marketing spend, with incremental tax savings of $150mm per year through 2021.
Revenue in the quarter was up 35% YoY to $553.6MM, due to strong gains in television production revenue.