Lionsgate’s Motion Picture group profit fell to $2.8 million in Q2 2024 as they underperformed, especially Borderlands.
Film flops like'Borderlands' and the impact of the strikes saw losses pile up at Lionsgate during the most recent quarter.
The media giant, led by CEO Jon Feltheimer, recently launched Lionsgate Studios as a standalone, publicly traded company, split off from the Starz premium platform.
Lionsgate Motion Picture Chair Adam Fogelson said that filmmakers are already using AI under studio's new deal with Runway.