Lionsgate Still in Red Despite 48% Revenue Growth From ‘Michael’

Lionsgate achieved 48% revenue growth, with the Michael Jackson biopic surpassing $1 billion at the global box office. The film division's segment profit reached a record $105 million during the second quarter, driven by the Antoine Fuqua project. However, despite these substantial gains and the record-breaking performance of the biopic, Lionsgate remains in the red. The company's overall financial status continues to be negative despite the sharp increase in quarterly revenue from its cinematic success.