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Tag: Jon Feltheimer

  • Lionsgate sets up shop in India; appoints Rohit Jain as country head

    Lionsgate sets up shop in India; appoints Rohit Jain as country head

    MUMBAI: Global American content leader and NYSE-listed Lionsgate has finally set up shop in India to tap one of Asia’s biggest media markets. It has appointed Rohit Jain, a media industry veteran, to head the ops here as managing director.

    Jain, who till some time back worked with DTH operator Videocon d2h as deputy CEO for seven years contributing to the company’s growth in size and its Nasdaq listing, confirmed to Indiantelevision.com over phone his appointment and opening of the Mumbai office.

    Lionsgate India will spearhead all licensing to local linear and digital platforms in the territory from feature films, television series and library content under the Lionsgate and Starz brands.  It will work closely with the studio’s theatrical distribution partners to maximise box office for Lionsgate films, and it will partner with local production companies to develop intellectual property for theatrical release as well as distribution across other media platforms.

    Apart from that, Lionsgate India, a 100 per cent subsidiary of its American parent, will also explore investment opportunities throughout the Indian media market.

    “We’ve been focused on the enormous opportunity created by the Indian marketplace for years, and Rohit checks off all the boxes as the right executive to lead our business there,” said Lionsgate chief executive officer Jon Feltheimer in an official statement. 

    Feltheimer added: “Lionsgate brings to this territory a global content platform, an entrepreneurial mind set, and the agility of a next generation digital age company. Rohit is ideally qualified to leverage these strengths into accelerating growth and new business initiatives in the years ahead.”

    Lionsgate has been steadily expanding its global content platform with the continued growth of Lionsgate UK into a leading film and television production and distribution company, a growing operation in China that has established strong relationships with nearly all major platforms in the territory and increased the studio’s box office gross by 63 per cent from last year, and a new Canadian office that was opened in Toronto earlier this year.

    “I’m thrilled to join Jon and the rest of the Lionsgate team as we continue to build the company’s brand in India,” according to Jain, a 20 years veteran of the Indian media industry.

    Jain further pointed out that as India was the next logical frontier for Lionsgate’s multi platform content creation, marketing expertise and digital initiatives, he was “incredibly excited” at the opportunities that lie ahead.

    Boasting the world’s second largest consumer population and fastest-growing middle class, India has achieved double-digit annual growth across television, film, interactive games and delivery of content to digital platforms.  With over 800 television channels, more than 30 over-the-top platforms, 8,500 theatrical exhibition screens and an evolving interactive game business, opportunities for content producers and distributors are continuing to increase, according to Lionsgate.

    In the past few years, the company said it has tripled its revenue from India and made Hindi-language film `Brothers, a remake of Lionsgate’s critically-acclaimed `Warrior. A Hindi-language remake of the studio’s action hit comedy `Red is also in the works with a possible involvement of Hindi film star Anil Kapoor.

    Rohit Tiwari of Morris Street Advisors, who had previously served as Lionsgate’s local sales agent in India, has transitioned to a consulting relationship to Lionsgate India, the company said.

    The first major new studio in decades, Lionsgate is a global content platform whose films, television series, digital products and linear and over-the-top platforms reach next generation audiences around the world.  In addition to its filmed entertainment, Lionsgate claims its content drives a growing presence in interactive and location-based entertainment, gaming, virtual reality and other new entertainment technologies.

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  • Lionsgate UK CEO Zydi Kamasa extends contract; takes on added responsibility

    Lionsgate UK CEO Zydi Kamasa extends contract; takes on added responsibility

    MUMBAI: In a move reflecting Lionsgate’s continued globalization, Zygi Kamasa has entered a new long-term agreement to continue serving as Lionsgate UK CEO and to assume additional new responsibilities as CEO of Lionsgate’s European office.

     

    Kamasa, who has led Lionsgate’s self-distribution business in the UK to record revenue and profits, will continue to grow Lionsgate UK’s film, television, home entertainment and digital businesses, including distribution of Lionsgate and Summit films, production and release of its own Lionsgate UK titles and third-party acquisitions. In his expanded role he will also spearhead Lionsgate’s strategic growth initiatives and new business development across Europe, including potential coproduction arrangements, M&A initiatives and entry into new lines of business.

     

    Lionsgate UK recently expanded its distribution slate to include Summit as well as Lionsgate releases (for Summit titles produced after July 2015). Lionsgate has also relocated its international sales and distribution headquarters to London, moving its international sales executives closer to key European markets.

     

    “Zygi is one of the entrepreneurial executives playing a leadership role in moving Lionsgate forward around the world. He and his team have grown Lionsgate UK into a vibrant and diversified company, and his expanded mandate for Europe underscores our commitment to continue building Lionsgate into a next generation global content leader,” said Lionsgate CEO Jon Feltheimer.

     

    “Zygi has achieved record results and established an important film brand at Lionsgate UK. His business acumen, creative leadership and strong talent relationships will be invaluable as he continues to grow Lionsgate UK’s portfolio of businesses as well as exploring innovative growth opportunities across the European continent,” said Lionsgate co-chief operating officer and Motion Picture Group president Steve Beeks.

     

    Lionsgate UK is coming off two straight years of record revenue and profits as the company continues to diversify its slate and broaden its relationships. Kamasa and his team have overseen the investment, production and distribution of more than 350 films and have launched over 150 top ten box office hits in the UK, including the first three installments of Lionsgate’s global blockbuster The Hunger Gamesfranchise, the Saw horror franchise, Olympus Has Fallen, Cabin in the Woods and Stephen Soderbergh’s Magic Mike.

     

    Kamasa, a staunch advocate of the UK film industry, has also developed a strong track record in investing in UK projects including: the worldwide hit Bend it Like Beckham; Lasse Hallstrom’s Salmon Fishing in the Yemen, starring Ewan McGregor and Emily Blunt; the adaptation of Eric Lomax’s autobiography The Railway Man, starring Colin Firth and Nicole Kidman; and the upcoming A Little Chaos, directed by Alan Rickman and starring Kate Winslet, Stanley Tucci and Matthias Schoenaerts.

     

    “I’m delighted to continue growing our business within the entrepreneurial and forward-looking culture that Jon, Michael, Steve and the rest of the Lionsgate team have created. Lionsgate’s emergence as a content leader with global scope positions us to continue building our portfolio of production and distribution businesses in the U.K. as well as exploring strategic opportunities across the European continent,” said Kamasa.

     

  • Lionsgate inks co-financing deal with China’s Hunan TV

    Lionsgate inks co-financing deal with China’s Hunan TV

    MUMBAI: Lionsgate and China’s Hunan TV & Broadcast Intermediary Co. Ltd. have inked a partnership that includes a multiyear slate co-financing deal covering qualifying Lionsgate feature films.

     

    The agreement marks another step in Lionsgate’s continued growth into key markets around the world.

     

    Under the terms of the agreement, Hunan’s wholly-owned TIK Films subsidiaries will co-finance all qualifying Lionsgate feature films annually for the next three years, including such eagerly-anticipated branded properties as the action-adventure film Gods of Egypt, an epic reimagining of ancient Egypt, Now You See Me 2, the sequel to Lionsgate’s 2013 global blockbuster, which grossed more than $350 million at the worldwide box office, the supernatural action thriller The Last Witch Hunter, starring Vin Diesel, the critically-acclaimed thriller Sicario and the romantic thriller Age of Adaline, starring Blake Lively and Harrison Ford. 

     

    TIK Films, in partnership with Leomus Pictures, also has the option to distribute up to four of the co-financed films each year in China. In addition, Lionsgate, TIK and Leomus are already planning several feature film co-development and co-production projects in China. Leomus recently distributed the hit films Now You See Me and Escape Plan from Lionsgate’s Summit Entertainment label in China, where Escape Plan grossed more at the box office ($42 million) than it did in North America.

     

    “We’re delighted to expand our relationship with one of the pre-eminent entertainment brands in China to build our film and television presence in that territory as well as to explore opportunities around the world. This agreement reflects our strategy of teaming with entrepreneurial partners to expand our global operations in key markets while underscoring our commitment to a business model that mitigates risk,” said Lionsgate CEO Jon Feltheimer.

     

    “We’re thrilled to partner with Lionsgate, an innovative and forward-looking company that has emerged as a major creative force in the global marketplace. We look forward to joining hands in creating a feature film pipeline filled with some of the most commercially exciting movies in the world as well as exploring other strategic opportunities throughout our complementary film and television businesses,” added Hunan TV & Broadcasting chairman Qiu Yun Long.

     

    Lionsgate is working with Hunan CATV Network Group Co., LTD., a subsidiary company of Hunan TV & Broadcast, which reaches over 15 million subscribers. Lionsgate is cooperating with major shareholder Hunan TV, the second most watched broadcaster in China, to explore opportunities for Hunan series outside China.

     

    Financing for the deal was provided by East West Bank and Bank of China.

  • Lionsgate invests in game developer Telltale Games

    Lionsgate invests in game developer Telltale Games

    MUMBAI: As part of the continued diversification of its content business and recent entry into the game space, Lionsgate has made a significant investment in leading game developer and publisher Telltale Games.

     

    As part of its investment, Lionsgate CEO Jon Feltheimer will also join the Telltale Board of Directors.

     

    The investment will continue the extension of Lionsgate’s film and television brands into the game space and will bring Lionsgate’s expertise in creating and marketing premium content to Telltale’s unique narrative-driven, storytelling approach to gaming.  The collaboration will also enable the two companies to explore opportunities to co-develop existing and original IP into episodic games and television.

     

    Telltale has emerged as an industry leader in narrative-driven episodic games with the blockbuster hit The Walking Dead, which has sold 8.5 million copies and topped sales charts on Xbox Live, PlayStation Network and Steam, as well as the hit Game of Thrones, based on the smash television series, The Wolf Among Us, the episodic interactive graphic adventure video game based on Bill Willingham’s Fables comic book, and Tales from the Borderlands, Telltale’s adaptation of the acclaimed PC, Mac and console video game title from Gearbox Software and 2K Games.

     

    “Telltale is one of the premier storytellers in the gaming world today. Their leadership in narrative-driven episodic games, together with our investment and the potential opportunities created by our premium content expertise, will continue to strengthen their ability to offer exciting new avenues of storytelling to their next generation audiences across a broad range of platforms,” said Feltheimer.

     

    “Lionsgate is one of the most innovative, entrepreneurial and impressive content companies in the world today. I’m delighted to welcome an experienced executive like Jon, a leader who shares our unique vision, to our Board. Lionsgate has a great track record in developing and marketing feature films as well as platform-defining premium scripted television. This partnership will accelerate Telltale’s ability to create not only original games, but episodic television series based on our game properties – an area at the cutting edge of industry growth,” added Telltale CEO Kevin Bruner.

     

    “Our partnership with Kevin Bruner and his team at Telltale continues to accelerate our momentum in the game space. The convergence between premium filmed entertainment brands and original game properties is a natural direction in which to continue diversifying our content business, and Telltale is the perfect partner with whom to explore this dynamic area of growth,” said Lionsgate president of interactive ventures & games Peter Levin.

  • Lionsgate reports Q1 loss of $44.2 mn

    Lionsgate reports Q1 loss of $44.2 mn

    MUMBAI: US film and entertainment studio Lionsgate has reported revenue of $471.8 million, adjusted EBITDA of $17.1 million, and net loss of $44.2 million for the first quarter ended 30 June 2012. The loss was in part due to theatrical marketing costs.
    Revenue in the first quarter increased by 81 per cent compared to $261.3 million in the prior year quarter, driven by the North American theatrical revenue of ‘The Hunger Games‘ and the films ‘Cabin In The Woods‘ and ‘What To Expect When You‘re Expecting‘ as well as revenue gains in the company‘s home entertainment business.
    Adjusted EBITDA of $17.1 million and EBITDA of $(13.4) million in the first quarter compared to EBITDA of $28.7 million and adjusted EBITDA of $27.5 million in the prior year quarter and net loss of $(44.2) million in the first quarter compared to net income of $10.3 million in the prior year quarter due in part to an increase of $90 million in theatrical marketing costs associated with five releases in the quarter (including four wide releases) compared to one release in the prior year quarter.
    The company noted that all five releases are anticipated to be profitable on an ultimate basis.
    EBITDA and net loss in the quarter were also affected by increased G&A costs due primarily to increased stock-based compensation largely associated with the increase in the Company‘s stock price as well as increased costs associated with the integration of Summit Entertainment.
    Profitability in the quarter was also impacted by increased interest expense, a non-cash charge for early retirement of a significant portion of the Summit term loan debt and the application of purchase accounting required by GAAP.

    Lionsgate‘s film backlog was $992 million till 30 June 2012. Filmed entertainment backlog represents the amount of future revenue not yet recorded from contracts for the licensing of films and television product for television exhibition and in international markets.
    Lionsgate CEO Jon Feltheimer said, “We completed our first quarter on target for our fiscal year and our three-year plan. Our financial results in the quarter were affected by marketing costs for a slate of five films, primarily noncash stock-based compensation and a noncash charge for paying down a significant portion of our Summit term loan debt early. However, with two-thirds of the profitability of the first HUNGER GAMES film still ahead, we anticipate that the combined benefits of our Summit acquisition, the strength of our young adult franchises and the continued evolution of our television business will translate into significant and growing contributions for the balance of our three-year plan.”
    Overall motion picture revenue for the first quarter was $406.5 million, an increase of 111 per cent from the prior year quarter. Within the motion picture segment, theatrical revenue was $137.6 million, a fivefold increase from the prior year first quarter, attributable to the box office performance of The Hunger Games, the 12th highest-grossing North American release of all time, and the other theatrical releases mentioned above.
    Lionsgate‘s home entertainment revenue from both motion pictures and television was $145.5 million in the first quarter compared to $92.9 million in the prior year quarter driven by five major DVD and digital releases in the quarter.
    Television revenue included in motion picture revenue was $37.1 million in the first quarter, a decrease of 14 per cent from the prior year quarter.
    International motion picture revenue of $48.6 million (excluding Lionsgate U.K.) for the first quarter increased more than fourfold from the prior year quarter driven by the worldwide theatrical release of ‘The Hunger Games‘ as well as revenue contributions from the ‘Twilight‘ films, ‘Cabin In The Woods‘, ‘What To Expect When You‘re Expecting‘ and ‘Man On A Ledge‘.
    Lionsgate UK revenue was $32.6 million, a nearly threefold increase from the prior year quarter, on the strength of a theatrical slate driven by ‘The Hunger Games‘ and Lionsgate UK‘s ‘Salmon Fishing In The Yemen‘ Television production revenue was $65.3 million in the first quarter, a decline of 5 per cent compared to the prior year quarter due primarily to fewer deliveries from the company‘s Debmar-Mercury syndication arm offset in part by increased digital media revenue from ‘Weeds‘ seasons six and seven and Mad Men season five in their home entertainment windows.

  • Post acquisition, Lionsgate sheds 80 staff

    Post acquisition, Lionsgate sheds 80 staff

    MUMBAI: Following Lionsgate’s purchase of Summit Entertainment last January, the former has begun laying off about 80 of its employees.

    Most of the layoffs came in the motion picture and home entertainment divisions, where the two companies had the most overlap and staff reductions were expected, it is said.

    The lay-offs represent 12 per cent of the combined company. Of a total staff of 675, Lionsgate has about 500 employees, while Summit has around 175. The company is aiming at bringing the number down to around 575.

    Last Friday the company announced that its COO Steve Beeks had signed a new long-term agreement and is also taking on the additional title of president of the Lionsgate motion picture group.

    “With the growth of our combined operations through the recent Summit acquisition and a combined feature film slate that is now capable of generating a billion dollars a year at the North American theatrical box office alone, Steve‘s ongoing focus on financial discipline, cost control and overhead management is more critical than ever,” Lionsgate CEO Jon Feltheimer said in a statement.

    Besides Feltheimer, Beeks will also report to Lionsgate motion picture group co-chairs Rob Friedman and Patrick Wachsberger in his new president role for that division.

  • Lionsgate expands into television syndication business

    Lionsgate expands into television syndication business

    MUMBAI: US independent film studio Lionsgate has acquired television distributor Debmar-Mercury.

    Helmed by Mort Marcus and Ira Bernstein, the company will continue to operate under the Debmar-Mercury banner as a wholly-owned subsidiary.

    Debmar-Mercury recently completed a successful test of Tyler Perry’s TV shows (Diary Of A Mad Black Woman, Madea’s Family Reunion and the upcoming Daddy’s Little Girl), the comedy series House Of Payne with select major market stations representing a cross section of key station groups. Lionsgate’s acquisition of Debmar-Mercury extends the company’s relationship with Tyler Perry across not only feature film and video product but original television programming, as well.

    The acquisition follows on the heels of Lionsgate’s successful move into international feature film and library self-distribution, through the October 2005 acquisition of UK-based distributor Redbus, which was renamed Lionsgate UK. It also creates a major new distribution portal for Lionsgate by giving it the capacity to syndicate its own television programming and feature film packages as well as creating a new television distribution revenue stream from third-party franchise properties.

    Lionsgate CEO Jon Feltheimer says, “We again have the opportunity to combine our resources with a culturally similar, entrepreneurial company that is a leader in its market segment and whose principals we know well.

    “Debmar-Mercury has become one of the leading independent distributors in the industry. With our fiscal 2007 slate of nine prime time television series, the acquisition of Debmar-Mercury’s television distribution capabilities across new and traditional media outlets is a natural growth opportunity for our content business.”

    Feltheimer noted that the acquisition continues to further Lionsgate’s game plan of broadening its distribution footprint and aggregating rights to important content and properties.