Lionsgate Studios’ filmed entertainment backlog increased 21% year-over-year to $1.5 billion during its fiscal first quarter of 2027, while trailing 12-month library revenue reached $987 million as the company’s existing film and television catalog becomes an increasingly important source of recurring cash flow.
The backlog represents contractual future revenue that has not yet been recognized. Combined with nearly $1 billion of trailing library revenue, the figure provides Lionsgate with increased visibility into future revenue as it continues executing a franchise-focused content strategy.
The company’s Motion Picture segment also delivered a particularly strong quarter. Revenue more than doubled year-over-year to $587.3 million and segment profit reached $105 million, a record for Lionsgate’s fiscal first quarter.
The performance was driven partly by recent theatrical releases, including Michael, which generated more than $1 billion at the worldwide box office and became the highest-grossing biopic of all time, along with strong ancillary performance from The Housemaid.
Television Production revenue was $189.3 million and segment profit was $10.2 million, with both declining due to the timing of episodic deliveries. Lionsgate nevertheless continues to expect scripted deliveries to double in fiscal 2027 compared with fiscal 2026.
Overall quarterly revenue increased 48% year-over-year to $776.6 million. Adjusted OIBDA reached $79.3 million, while adjusted free cash flow was $128.9 million.
The stronger cash generation also contributed to rapid deleveraging. Lionsgate said leverage improved by nearly two turns from the March quarter to 4.3x trailing 12-month adjusted OIBDA.
KEY QUOTES:
“I’m pleased to report another quarter of strong financial results and growing momentum across our business. As we continue to execute our franchise strategy across a deep portfolio of branded intellectual properties, generate increased visibility and stability from our film and television library, and benefit from continued improvement in our operating environment, we are positioned to deliver strong growth in fiscal 2027 and beyond.”
Jon Feltheimer, CEO of Lionsgate
