Lionsgate Films

Overview

Lionsgate is the largest independent film studio in North America and one of the few major distributors operating without ownership by a media conglomerate. Founded in Vancouver in 1997 and headquartered in Santa Monica, the studio released 27 films theatrically in the US in fiscal year 2025 (ending March 31, 2025) across its Lionsgate and Roadside Attractions labels. Lionsgate owns a 43% equity stake in Roadside Attractions.

The studio's trailing 12-month library revenue reached a record $1.05 billion in Q3 fiscal 2026, marking the 5th consecutive quarter of record TTM library revenue. The library now exceeds 20,000 titles following the December 2023 acquisition of Entertainment One (eOne) from Hasbro for $375 million in cash plus assumed production financing loans, which added 6,500 film and television titles. On May 6, 2025, Lionsgate completed the separation of its studio and Starz businesses into two separately traded public companies, with Lionsgate Studios Corp. (Nasdaq: LION) holding the studio business.

Lionsgate is best known for launching and managing major franchise properties including The Hunger Games ($3.3 billion global franchise), John Wick, and the Saw horror series. The studio's franchise economics model, developing owned intellectual property with controlled production budgets and aggressive marketing, has made it a study in how an independent studio can compete with major conglomerates without their infrastructure.

Recent Performance and Box Office

Lionsgate's Q3 fiscal 2026 (quarter ending December 31, 2025) saw motion picture segment revenue of $421.2 million, up 35% year-over-year, driven by the releases of The Housemaid and Now You See Me: Now You Don't. The Housemaid (directed by Paul Feig, starring Sydney Sweeney and Amanda Seyfried) grossed nearly $400 million at the worldwide box office, was a record-breaking performer on PVOD among films with comparable box office, and became the top Pay One title ever on Starz. Full Q4 fiscal 2026 motion picture segment revenue reached $651.9 million with segment profit of $187.1 million, growing 23% and 39% year-over-year respectively.

Fiscal 2025 theatrical releases included Den of Thieves 2: Pantera, Flight Risk (starring Mark Wahlberg), The Strangers: Chapter 1, Borderlands, The Crow, Megalopolis (Francis Ford Coppola), The Best Christmas Pageant Ever, The Killer's Game, Never Let Go, and White Bird. Roadside Attractions releases included Lee (starring Kate Winslet), Kill, My Penguin Friend, and City of Dreams.

eOne Acquisition and Library Growth

The December 27, 2023 acquisition of eOne from Hasbro for $375 million transformed Lionsgate's library and international presence. The deal added 6,500 film and television titles including Best Picture winners Green Book and Spotlight, plus awards contenders and commercial hits like 1917, The Woman King, The Post, Molly's Game, Arrival, Booksmart, and If Beale Street Could Talk. On the television side, the acquisition brought The Rookie (ABC), Yellowjackets (Showtime), Naked and Afraid (Discovery), and The Recruit (Netflix).

The eOne acquisition also expanded Lionsgate's presence in Canada and the UK, where eOne had extensive local partnerships. The transaction included film development rights to Hasbro's Monopoly brand. Hasbro retained branded assets including Peppa Pig, Transformers, Dungeons & Dragons, Power Rangers, and PJ Masks.

Summit Entertainment

Lionsgate acquired Summit Entertainment in 2012, gaining the distribution rights to the Twilight franchise and absorbing Summit's distribution infrastructure. Summit functions as a secondary label within Lionsgate, handling co-productions and select acquisitions separately from the main Lionsgate banner. The label's profile decreased after the Twilight franchise concluded, but it remains an active acquisition vehicle for mid-budget dramas and genre films.

Upcoming Slate

Lionsgate's upcoming franchise pipeline through 2027 includes:

• Michael - Michael Jackson biopic, April 2026 global rollout
• The Hunger Games: Sunrise on the Reaping - November 20, 2026, directed by Francis Lawrence, starring Joseph Zada, Ralph Fiennes, Elle Fanning, Glenn Close, Jesse Plemons, and Billy Porter. The $3.3 billion franchise returns to Panem 24 years before the original film
• Resurrection of the Christ: Parts One and Two - March and May 2027
• John Wick 5 - officially announced at CinemaCon 2025, plus an animated prequel from Keanu Reeves and Chad Stahelski
• The Housemaid's Secret - sequel in development, Feig and Sweeney attached, 2026 shoot anticipated
• John Rambo, Dirty Dancing, Naruto, American Psycho adaptation, new Saw and Blair Witch installments - all in production, pre-production, or fast-track development

Distribution Model

Lionsgate distributes theatrically in North America through its own distribution infrastructure and internationally through a combination of Lionsgate offices and territory-by-territory output deals. Most fiscal 2025 releases used a day-and-date theatrical and Premium VOD release pattern, with select titles using accelerated home entertainment windows.

The studio typically seeks to limit its financial exposure on acquisitions while adding films with high commercial potential, critical recognition, and cross-platform monetization opportunities. Lionsgate acquires films at Sundance and other festivals, particularly in the horror, thriller, and prestige drama categories. The studio has a track record of acquiring films with budgets between $1 million and $10 million and releasing them theatrically with targeted P&A commitments.

Key Labels and Divisions

• Lionsgate Films - main theatrical label
• Summit Entertainment - co-productions and select acquisitions
• Roadside Attractions (43% equity stake) - specialty and arthouse releases
• Lionsgate UK - UK and Ireland theatrical distribution
• Lionsgate Home Entertainment - physical and digital home entertainment
• Starz - premium subscription platform (separated as standalone company May 2025)

What Filmmakers Should Know

Lionsgate is more accessible to independent filmmakers than the major studios, though it is still primarily driven by production company relationships and agency packaging. The studio acquires films at Sundance and other festivals, particularly in the horror, thriller, and prestige drama categories. Lionsgate's willingness to work with first-time directors and to release lower-budget genre films theatrically makes it an important target for filmmakers with completed projects.

For projects targeting Lionsgate, attaching known genre talent, a producer with a prior Lionsgate relationship, or talent with franchise experience substantially increases the likelihood of an acquisition conversation. The studio values franchise potential and sequel viability highly in its acquisition criteria. Lionsgate's motion picture group is led by chair Adam Fogelson.

Watch: Trailers and Interviews

See Also

For how franchise economics work in independent distribution, see Distribution Deals Explained. To model how a Lionsgate-style acquisition deal structures minimum guarantees and recoupment, use the Revenue Forecast Calculator. For Lionsgate's UK and Ireland distribution, see Lionsgate UK in this directory. For understanding how PVOD and accelerated home entertainment windows affect filmmaker revenue, see Streaming vs Theatrical Revenue.