MOVIES(3 days ago)
‘Michael’ Biopic Drives Lionsgate To Record Movie Quarter Profit
Shamone! The King of Pop is still bringing in the cash. The Michael Jackson biopic “Michael” fueled a monster quarter for Lionsgate’s movie arm, per Variety.
The studio’s Motion Picture segment posted a record $105 million in profit, a huge jump from a measly $2.4 million a year ago. Revenue more than doubled to $587.3 million.
That box office magic helped the parent company narrow its overall quarterly loss to $29 million. It seems the studio’s bet on a moonwalking legend is paying off in a major way.
Sources:Variety ↗
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