Lionsgate reported a sharp rise in first-quarter revenue and a narrowed net loss, driven largely by the global box office success of Antoine Fuqua's Michael Jackson biopic, Michael. The results, released on Thursday, beat Wall Street forecasts and mark a strong start for the studio since it became a standalone company following its split from Starz, with executives pointing to continued momentum from the film and its planned sequel.

Lionsgate posted a first-quarter net loss of $28.8 million, down from $109 million a year earlier, while overall revenue rose 48 percent to $776.6 million, ahead of analyst expectations of $693.1 million. Michael has grossed $1.013 billion worldwide, becoming the highest-grossing biopic ever and Lionsgate's top-grossing title, helping push the Motion Picture Group's segment profit to $105 million, its best first quarter on record. Television production revenue fell to $189.3 million from $288.5 million due to delivery timing, but the studio expects growth in fiscal 2027 from a near doubling of scripted deliveries and a new licensing deal sending four Power series to Netflix. Executives also confirmed plans for a Michael sequel, targeting a production start in late 2026 or early 2027 and a possible release between late 2027 and mid-2028.