2023-08-15 20:01:26
Next to a financial report for the first quarter of fiscal 2023, the Lionsgate+ announced that will leave Latin America until the day December 31 of this year. Modifying the previous strategy of expanding to different countries, the company has now decided to focus on the markets of USAdo Canada It’s from United Kingdom.
Despite this, according to CEOChief executive officeror executive director.”>1 from the company, John Feltheimer, a new “very favorable” long-term distribution deal was signed in July with an as-yet-undisclosed partner. The Lionsgate+ catalog will, therefore, be made available on that other service after the departure of streaming from Latin America; some titles will be withdrawn first, however.
The executive also stated that this partnership will bring the desired profitability to the company, which helped in the process of making the decision to leave the region. Last year, the service also left Europe, it is worth noting.
As pointed out by Deadline, the company is in a phase of redefining its business in general. Lionsgate — the production company that owns the service — recently acquired Entertainment One and is in the process of parting ways with STARZ. The idea is to turn the studio and the streaming service/TV channel into two different companies.
Lionsgate’s financial results for the quarter were, however, better than expected by market analysts. Revenue for the period was US$909 million, 4% above expected. The idea behind leaving Latin America, therefore, is to boost the numbers by adopting a new strategy, lowering operating costs.
Lionsgate+ arrived in Brazil in 2019 with a reduced catalogue, and can also be subscribed through other services, such as Apple TV Channelsno Free market e no Amazon Prime Video. Among the titles available on the service are classics such as “The Hunger Games”, “American Psycho” and the “Rambo” franchise, in addition to more recent successes, such as “The Great”.
About a year ago, the name of the service changed from STARZPLAY to the current nomenclature in several countries, including Brazil — after a process by the Disney due to the similarity of the name with the brand Star+.
via TechAll
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