Lionsgate Revenue Jumps 41% to $668.8 Million on 'Michael' Biopic

Lionsgate reported revenue of $668.8 million for the quarter ended September 30, a 41% jump year over year, driven by the $1-billion-grossing Michael Jackson biopic "Michael" and a surge in television series deliveries.

Operating income reached $29.1 million, reversing an operating loss of $46.0 million a year earlier. Net loss from continuing operations attributable to shareholders narrowed to $15.5 million, or a diluted loss of 5 cents per share, the studio said for its second quarter of fiscal 2026.

CEO Jon Feltheimer credited the results to a plan already in motion. "Our strong performance in the quarter reflects all of the pieces of our fiscal 2027 plan coming together, reaffirming our confidence in this year's forecast of significant adjusted OIBDA growth," Feltheimer said in prepared remarks. He added that the studio had "very positive momentum" while setting film tentpoles for the next three years, giving what he called "growing visibility into our continued growth trajectory in fiscals 2028 and 2029."

How did 'Michael' and the library perform?

Motion picture segment revenue rose 30% year over year to $359.3 million, with segment profit climbing to $88.7 million. The studio attributed the gains to the ongoing contribution of "Michael," which grossed more than $1 billion at the global box office, plus continued strength in the library.

Trailing 12-month library revenue came in at $1.04 billion — the second highest figure in Lionsgate's history.

What drove the television surge?

Television Production segment revenue increased 56% year over year to $309.5 million. Segment profit jumped 73% versus the prior year to $21.6 million.

Lionsgate tied the results to a significant increase in scripted episodic deliveries, including:

• "Power: Origins"
• The second season of "The Studio" for Apple TV
• The second season of "The Hunting Wives" for Netflix

The company said it anticipates doubling scripted deliveries in fiscal 2027 relative to fiscal 2026.

What comes next for the film slate?

Ten of Lionsgate's next 15 wide theatrical releases "are repeatable branded properties," Feltheimer said on the earnings call. "With the new 'Hunger Games,' 'Resurrection of the Christ' Parts 1 & 2, 'The Housemaid's Secret,' 'Michael 2' and 'Naruto' leading the way, complemented by other marquee properties in proved areas of strength, we have confidence in the earnings power of our film slate over the next three years."

"The Hunger Games: Sunrise on the Reaping" opens in two weeks to launch the Thanksgiving box office. "We believe that this will be one of our biggest and best Hunger Games yet," Feltheimer said.

Which TV franchises are expanding?

Feltheimer cited "The Rookie," which "is growing in popularity as it heads into its ninth season." The spinoff "The Rookie: North" arrives in January on ABC and will stream on Hulu in the United States and on Disney+ in most international territories.

"Ghosts" is exploring new spinoff opportunities as it enters its sixth season on CBS. A recent licensing deal with Netflix, Feltheimer said, "is indicative of the kind of value we're creating for the Power franchise 10 years after the original Power series launched."

Netflix renewed "The Hunting Wives" for a third season before its second season premiered. Season 2 debuts Thanksgiving Day, and Lionsgate will begin shooting the third season next month at the Lionsgate Studios sound stages in Atlanta.

With a branded release pipeline locked through the next three years and scripted deliveries set to double in fiscal 2027, Lionsgate enters 2026 positioned to test whether its biggest franchise bets can convert one strong quarter into a sustained turnaround.