Company Quick10K Filing
Lions Gate Entertainment
Price20.31 EPS-1
Shares220 P/E-24
MCap4,464 P/FCF11
Net Debt2,714 EBIT32
TEV7,178 TEV/EBIT222
TTM 2019-09-30, in MM, except price, ratios
10-K 2020-03-31 Filed 2020-05-27
10-Q 2019-12-31 Filed 2020-02-06
10-Q 2019-09-30 Filed 2019-11-07
10-Q 2019-06-30 Filed 2019-08-08
10-K 2019-03-31 Filed 2019-05-23
10-Q 2018-12-31 Filed 2019-02-07
10-Q 2018-09-30 Filed 2018-11-08
10-Q 2018-06-30 Filed 2018-08-09
10-K 2018-03-31 Filed 2018-05-24
10-Q 2017-12-31 Filed 2018-02-08
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-08
10-K 2017-03-31 Filed 2017-05-25
10-Q 2016-12-31 Filed 2017-02-09
10-Q 2016-09-30 Filed 2016-11-08
10-Q 2016-06-30 Filed 2016-08-04
10-K 2016-03-31 Filed 2016-05-25
10-Q 2015-12-31 Filed 2016-02-04
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-06
10-K 2015-03-31 Filed 2015-05-21
10-Q 2014-12-31 Filed 2015-02-05
10-Q 2014-09-30 Filed 2014-11-06
10-Q 2014-06-30 Filed 2014-08-07
10-K 2014-03-31 Filed 2014-05-29
10-Q 2013-12-31 Filed 2014-02-06
10-Q 2013-09-30 Filed 2013-11-08
10-Q 2013-06-30 Filed 2013-08-08
10-K 2013-03-31 Filed 2013-05-30
10-Q 2012-12-31 Filed 2013-02-11
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-09
10-K 2012-03-31 Filed 2012-05-30
10-Q 2011-12-31 Filed 2012-02-09
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-09
10-K 2011-03-31 Filed 2011-05-31
10-Q 2010-12-31 Filed 2011-02-09
10-Q 2010-09-30 Filed 2010-11-09
10-Q 2010-06-30 Filed 2010-08-09
10-K 2010-03-31 Filed 2010-06-01
10-Q 2009-12-31 Filed 2010-02-09
8-K 2020-05-21
8-K 2020-05-15
8-K 2020-04-02
8-K 2020-02-06
8-K 2019-12-19
8-K 2019-12-17
8-K 2019-11-07
8-K 2019-09-26
8-K 2019-09-10
8-K 2019-08-08
8-K 2019-06-17
8-K 2019-05-23
8-K 2019-02-07
8-K 2019-02-04
8-K 2019-01-24
8-K 2019-01-24
8-K 2018-11-12
8-K 2018-11-08
8-K 2018-09-14
8-K 2018-09-11
8-K 2018-08-22
8-K 2018-08-09
8-K 2018-07-19
8-K 2018-07-11
8-K 2018-06-07
8-K 2018-05-24
8-K 2018-04-15
8-K 2018-04-09
8-K 2018-03-31
8-K 2018-03-28
8-K 2018-03-26
8-K 2018-03-22
8-K 2018-03-12
8-K 2018-03-05
8-K 2018-02-08
8-K 2018-02-06

LGF 10K Annual Report

Part I
Item 1. Business.
Item 1A. Risk Factors.
Item 1B. Unresolved Staff Comments.
Item 2. Properties.
Item 3. Legal Proceedings.
Item 4. Mine Safety Disclosures.
Part II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Item 6. Selected Financial Data.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Item 8. Financial Statements and Supplementary Data.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Item 9A. Controls and Procedures.
Item 9B. Other Information.
Part III
Item 10. Directors, Executive Officers and Corporate Governance.
Item 11. Executive Compensation.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters.
Item 13. Certain Relationships and Related Transactions, and Director Independence.
Item 14. Principal Accounting Fees and Services.
Part IV
Item 15. Exhibits, Financial Statement Schedules.
Item 15(A).
Item 15(B).
Item 16. Form 10 - K Summary.
EX-10.1 exhibit101-q4f2020dire.htm
EX-10.36 exhibit1036-bergcorii2.htm
EX-21.1 exhibit211-q4f2020subs.htm
EX-23.1 lgf2020331-10kex231.htm
EX-31.1 lgf2020331-10kex311.htm
EX-31.2 lgf2020331-10kex312.htm
EX-32.1 lgf2020331-10kex321.htm

Lions Gate Entertainment Earnings 2020-03-31

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
1.31.00.70.40.1-0.22012201420172020
Rev, G Profit, Net Income
1.40.90.4-0.1-0.6-1.12012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended March 31, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from  ____________ to  ____________
            
Commission File No.: 1-14880
LIONS GATE ENTERTAINMENT CORP.
(Exact name of registrant as specified in its charter)
British Columbia, Canada
 
N/A
(State or Other Jurisdiction of Incorporation or Organization)
 
(I.R.S. Employer Identification No.)
 
 
 
 
 
 
 
 
 
250 Howe Street,
20th Floor
 
 
2700 Colorado Avenue
Vancouver,
British Columbia
V6C 3R8
 
Santa Monica,
California
90404
(877) 848-3866
 
(310) 449-9200
(Address of Principal Executive Offices, Zip Code)
Registrant’s telephone number, including area code:
(877) 848-3866
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
 
Trading Symbol(s)
 
Name of Each Exchange on Which Registered
Class A Voting Common Shares, no par value per share
 
LGF.A
 
New York Stock Exchange
Class B Non-Voting Common Shares, no par value per share
 
LGF.B
 
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
___________________________________________________________
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934. Yes No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or Section 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
 
Accelerated filer
Non-accelerated filer
 
 
Smaller reporting company
 
 
 
 
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No
The aggregate market value of the voting and non-voting stock held by non-affiliates of the registrant as of September 30, 2019 (the last business day of the registrant’s most recently completed second fiscal quarter) was approximately $1,626,643,913, based on the closing sale price of such shares as reported on the New York Stock Exchange.
As of May 18, 2020, 82,899,512 shares of the registrant’s no par value Class A voting common shares were outstanding, and 136,513,166 shares of the registrant's no par value Class B non-voting common shares were outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
     Portions of the Registrant’s definitive proxy statement relating to its 2020 annual meeting of shareholders (the “ 2020 Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The 2020 Proxy Statement will be filed with the U.S. Securities and Exchange Commission (the "SEC") within 120 days after the end of the fiscal year to which this report relates. Portions of the Registrant's Annual Report on Form 10-K for Fiscal 2019, filed with the SEC on May 23, 2019, are incorporated by reference into Part II of this Annual Report on Form 10-K.



 
 
 
 
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2


FORWARD-LOOKING STATEMENTS

This report includes statements that are, or may be deemed to be, “forward-looking statements” within the meaning of the Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “potential,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “forecasts,” “may,” “will,” “could,” “would” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this report and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We believe that these risks and uncertainties include, but are not limited to, those discussed under Part I, Item 1A. “Risk Factors.” These factors should not be construed as exhaustive and should be read with the other cautionary statements and information in the report. These factors may also be increased or intensified as a result of the coronavirus (COVID-19 global pandemic), including if there is a resurgence of the COVID-19 global pandemic after the initial outbreak subsides. The extent to which the COVID-19 global pandemic ultimately impacts our business, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted.

We caution you that forward-looking statements made in this report or anywhere else are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially and adversely from those made in or suggested by the forward-looking statements contained in this report as a result of various important factors, including, but not limited to: the potential effects of the COVID-19 global pandemic on the Company, economic and business conditions; the substantial investment of capital required to produce and market films and television series; budget overruns; limitations imposed by our credit facilities and notes; unpredictability of the commercial success of our motion pictures and television programming; risks related to acquisition and integration of acquired businesses; the effects of dispositions of businesses or assets, including individual films or libraries; the cost of defending our intellectual property; technological changes and other trends affecting the entertainment industry; potential adverse reactions or changes to business or employee relationships; and the other risks and uncertainties discussed under Part I, Item 1A. Risk Factors herein. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this report, those results or developments may not be indicative of results or developments in subsequent periods.

Any forward-looking statements, which we make in this report, speak only as of the date of such statement, and we undertake no obligation to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

This Annual Report on Form 10-K contains references to our trademarks and to trademarks belonging to other entities. Solely for convenience, trademarks and trade names referred to in this Annual Report on Form 10-K, including logos, artwork and other visual displays, may appear without the ® or TM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other companies’ trade names or trademarks to imply a relationship with, or endorsement or sponsorship of us by, any other company.

Unless otherwise indicated or the context requires, all references to the “Company,” “Lionsgate,” “we,” “us,” and “our” refer to Lions Gate Entertainment Corp., a corporation organized under the laws of the province of British Columbia, Canada, and its direct and indirect subsidiaries.



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PART I
ITEM 1. BUSINESS.
lionsgatelogoa37.jpg

Overview

Lionsgate (NYSE: LGF.A, LGF.B) is a global content leader whose films, television series, digital products and linear and over-the-top platforms reach next generation audiences around the world. Lionsgate’s film and television properties support location-based entertainment venues and other branded attractions, as well as a video game business. Lionsgate's content initiatives are backed by a nearly 17,000-title film and television library and delivered through a global sales and licensing infrastructure.

We manage and report our operating results through three reportable business segments: Motion Picture, Television Production and Media Networks. Financial information for our segments is set forth in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in this Annual Report.

Motion Picture

Our Motion Picture segment includes revenues derived from the following:

Theatrical. Theatrical revenues are derived from the domestic theatrical release of motion pictures licensed to theatrical exhibitors on a picture-by-picture basis (distributed by us directly in the United States and through a sub-distributor in Canada).

Home Entertainment. Home Entertainment revenues are derived from the sale or rental of our film productions and acquired or licensed films and certain television programs (including theatrical and direct-to-video releases) on packaged media and through digital media platforms (including pay-per-view and video-on-demand platforms, electronic sell through, and digital rental). In addition, we have revenue sharing arrangements with certain digital media platforms which generally provide that, in exchange for a nominal or no upfront sales price, we share in the rental or sales revenues generated by the platform on a title-by-title basis.

Television. Television revenues are primarily derived from the licensing of our theatrical productions and acquired films to the linear pay, basic cable and free television markets.

International. International revenues are derived from (i) licensing of our productions, acquired films, our catalog product and libraries of acquired titles to international distributors, on a territory-by-territory basis, and (ii) the direct distribution of our productions, acquired films, and our catalog product and libraries of acquired titles in the United Kingdom.

Other. Other revenues are derived from, among others, the licensing of our film and television and related content (e.g., games, music, location-based entertainment royalties, etc.) to other ancillary markets.

Television Production

Our Television Production segment includes revenues derived from the following:

Television. Television revenues are derived from the licensing to domestic markets (linear pay, basic cable, free television and syndication) of scripted and unscripted series, television movies, mini-series and non-fiction programming. Television revenues include fixed fee arrangements as well as arrangements in which we earn advertising revenue from the exploitation of certain content on television networks. Television revenues also include revenue from licenses to subscription-video-on-demand (“SVOD”) platforms in which the initial license of a television series is to an SVOD platform.

International. International revenues are derived from the licensing and syndication to international markets of scripted and unscripted series, television movies, mini-series and non-fiction programming.

Home Entertainment. Home Entertainment revenues are derived from the sale or rental of television production movies or series on packaged media and through digital media platforms.

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Other. Other revenues are derived from, among others, the licensing of our television programs to other ancillary markets, the sales and licensing of music from the television broadcasts of our productions, and from commissions earned and executive producer fees related to talent management.

Media Networks

Our Media Networks segment includes revenues derived from the following:

Starz Networks. Starz Networks’ revenues are derived from the domestic distribution of our STARZ branded premium subscription video services pursuant to affiliation agreements with U.S. multichannel video programming distributors (“MVPDs”), including cable operators, satellite television providers and telecommunications companies, and over-the top (“OTT”) (collectively, “Distributors”), and on a direct-to-consumer basis.

STARZPLAY International. STARZPLAY International revenues are primarily derived from OTT distribution of the Company's STARZ branded premium subscription video services internationally.

Other Streaming Services. Other Streaming Services revenues are derived primarily from our majority owned premium Spanish language streaming services business, Pantaya.

Segment Revenue

For the year ended March 31, 2020, contributions to the Company’s consolidated revenues from its reporting segments included Motion Picture 43.0%, Television Production 25.7% and Media Networks 38.2%, and intersegment revenue eliminations represented (6.9)% of consolidated revenues.

Within the Motion Picture segment, revenues were generated from the following:
Theatrical, 21.3%;
Home Entertainment, 42.2%;
Television, 14.8%;
International, 20.4%; and
Motion Picture-Other, 1.3%.

Within the Television Production segment, revenues were generated from the following:
Television, 71.5%;
International, 15.3%;
Home Entertainment, 6.1%; and
Television Production-Other, 7.1%.

Within the Media Networks segment, revenues were generated from the following:
Starz Networks, 96.2%;
STARZPLAY International, 1.5%
Other Streaming Services, 2.3%.

Corporate Strategy

We continue to grow and diversify our portfolio of content to capitalize on demand from streaming and traditional platforms throughout the world. We maintain a disciplined approach to acquisition, production and distribution of content, by balancing our financial risks against the probability of commercial success for each project. We also continue to invest in new programming and support the growth of STARZ’s direct-to-consumer offering and expansion of STARZPLAY, our international premium branded SVOD service. We believe that our strategic focus on content, alignment of our content creation and distribution platforms, and creation of other innovative content distribution strategies will enhance our competitive position in the industry, ensure optimal use of our capital, build a diversified foundation for future growth and create significant incremental long-term value for our shareholders.



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MOTION PICTURE

Motion Picture - Theatrical

Production and Acquisition

We take a disciplined approach to theatrical production, with the goal of producing content that can be distributed through various domestic and international platforms. In doing so, we attempt to mitigate the financial risk associated with production by, among other things:

Negotiating co-financing development and co-production agreements which may provide for joint efforts and cost-sharing with one or more third-party companies;
Pre-licensing international distribution rights on a selective basis, including through international output agreements (which license rights to distribute a film in one or more media generally for a limited term, and in one or more specific territories prior to completion of the film);
Structuring agreements that provide for talent participation in the financial success of the film in exchange for reduced guaranteed “up-front payments” that would be paid regardless of the film's success; and
Utilizing governmental incentives, programs and other structures from state and foreign countries (which typically take the form of sales tax refunds, transferable tax credits, refundable tax credits, low interest loans, direct subsidies or cash rebates, calculated based on the amount of money spent in the particular jurisdiction in connection with the production).

Our approach to acquiring films for theatrical release is similar to our approach to film production. We generally seek to limit our financial exposure in acquiring films while adding films of quality and commercial viability to our release schedule and library.

Distribution

The economic life of a motion picture consists of its exploitation in theaters, on packaged media and on various digital and television platforms in territories around the world.

We distribute motion pictures directly to movie theaters in the U.S. whereby the exhibitor retains a portion of the gross box office receipts and the balance is remitted to the distributor. Concurrent with their release in the U.S., films are generally released in Canada and may also be released in one or more other foreign markets. We construct release schedules taking into account moviegoer attendance patterns and competition from other studios' scheduled theatrical releases. We use either wide (generally, more than 2,000 screens nationwide) or limited initial releases, depending on the film. After the initial theatrical release, distributors seek to maximize revenues by releasing films in sequential release date windows, which may be exclusive against other non-theatrical distribution platforms.

Producing, marketing and distributing films can involve significant risks and costs, and can cause our financial results to vary depending on the timing of a film’s release. For instance, marketing costs are generally incurred before and throughout the theatrical release of a film and, to a lesser extent, other distribution windows, and are expensed as incurred. Therefore, we typically incur losses with respect to a particular film prior to and during the film’s theatrical exhibition, and profitability for the film may not be realized until after its theatrical release window. Further, we may revise the release date of a film as the production schedule changes or in such a manner as we believe is likely to maximize revenues or for other business reasons. Additionally, there can be no assurance that any of the films scheduled for release will be completed, that completion will occur in accordance with the anticipated schedule or budget, or that the film will ever be released.

Theatrical Releases

In fiscal 2020 (i.e., the twelve-month period ended March 31, 2020), we released 28 films in the U.S. across all our labels, which included the following:

Twelve films released through our Lionsgate and Summit Entertainment labels (including films developed and produced in-house, films co-developed and co-produced and films acquired from third parties);
Three films released through our Good Universe label;
Three films released through Pantelion Films, our joint venture with Grupo Televisa; and
Ten films released through our partnership with Roadside Attractions.


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Fiscal 2020
Theatrical Releases
Title
Release Date
Label/Partnership
I Still Believe*
March 13, 2020
Lionsgate
Hope Gap
March 6, 2020
Roadside Attractions
Las Pildoras De Mi Novio (My Boyfriend's Meds)
February 21, 2020
Pantelion Films
The Last Full Measure
January 24, 2020
Roadside Attractions
The Grudge
January 3, 2020
Good Universe/Sony
Bombshell
December 13, 2019
Summit
En Brazos De Un Asesino
December 6, 2019
Pantelion Films
Knives Out
November 27, 2019
Lionsgate
The Warrior Queen Of Jhansi
November 15, 2019
Roadside Attractions
Midway
November 8, 2019
Summit
My Love (Edmond) Cyrano
October 18, 2019
Roadside Attractions
Jexi
October 11, 2019
Lionsgate
Judy
September 27, 2019
Roadside Attractions
Rambo: Last Blood
September 20, 2019
Lionsgate
Tod@s Caen
August 30, 2019
Pantelion Films
Angel Has Fallen
August 23, 2019
Lionsgate
Fiddler: A Miracle Of Miracles
August 23, 2019
Roadside Attractions
Good Boys
August 16, 2019
Good Universe/Universal
Scary Stories To Tell In The Dark
August 9, 2019
Lionsgate
The Peanut Butter Falcon
August 9, 2019
Roadside Attractions
Marianne & Leonard: Words Of Love
July 5, 2019
Roadside Attractions
Anna (2019)
June 21, 2019
Summit
American Woman (2019)
June 14, 2019
Roadside Attractions
John Wick: Chapter 3 - Parabellum
May 17, 2019
Summit
Trial By Fire
May 17, 2019
Roadside Attractions
Long Shot
May 3, 2019
Good Universe/Summit
Fast Color
April 19, 2019
Lionsgate
Hellboy
April 12, 2019
Summit
* Theatrical run terminated early due to the COVID-19 global pandemic.

In fiscal 2020, we also released the following films ‘day-and-date’ (where select titles are released on video-on-demand (“VOD”) and other digital formats on the same day as they are released theatrically):



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Fiscal 2020
Day-and-Date Releases
Title
Release Date
Label/Partnership
Intrigo: Death Of An Author
January 17, 2020
Grindstone
Inherit The Viper
January 10, 2020
Lionsgate
Hell On The Border
December 13, 2019
Grindstone
Trauma Center
December 6, 2019
Grindstone
The Courier
November 22, 2019
Grindstone
The Turkey Bowl
November 15, 2019
Lionsgate
Primal
November 8, 2019
Lionsgate
The Gallows Act Ii
October 25, 2019
Lionsgate
Lucky Day
October 11, 2019
Grindstone
The Cotton Club Encore
October 11, 2019
Lionsgate
Semper Fi
October 4, 2019
Lionsgate
10 Minutes Gone
September 27, 2019
Grindstone
3 From Hell
September 16, 2019
Lionsgate/
Saban with Fathom
The Weekend
September 13, 2019
Grindstone
Strange But True
September 6, 2019
Lionsgate
Angel Of Mine
August 30, 2019
Grindstone
Apocalypse Now: Final Cut
August 15, 2019
Lionsgate
The Tracker
August 9, 2019
Grindstone
Killers Anonymous
June 28, 2019
Grindstone
Vault
June 14, 2019
Grindstone
The Poison Rose
May 24, 2019
Grindstone
Crypto
April 12, 2019
Grindstone

Lionsgate and affiliated companies have distributed films that have earned 129 Academy Award® nominations and 32 wins, as well as numerous Golden Globe Awards®, Producers Guild Awards®, Screen Actors Guild Awards®, Directors Guild Awards®, BAFTA Awards and Independent Spirit Awards nominations and wins.

Motion Picture - Home Entertainment

Our U.S. home entertainment distribution operation exploits our film and television content library of nearly 17,000 motion picture titles and television episodes and programs, consisting of titles from, among others, Lionsgate, our subsidiaries, affiliates and joint ventures (such as Starz, Summit Entertainment, Anchor Bay Entertainment, Artisan Entertainment, Grindstone Entertainment Group, Modern Entertainment, Trimark, Pantelion Films and Roadside Attractions), as well as titles from third parties such as A24, A&E, Amazon Studios, AMC, CBS Films, Entertainment Studios, Marvel, Saban Entertainment, StudioCanal, and Tyler Perry Studios. Home entertainment revenue consists of packaged media and digital revenue.

Packaged Media

Packaged media distribution involves the marketing, promotion and sale and/or lease of DVDs/Blu-ray discs to wholesalers and retailers who then sell or rent the DVDs/Blu-ray discs to consumers for private viewing. Fulfillment of physical distribution services are substantially licensed to Twentieth Century Fox Home Entertainment.

We distribute or sell content directly to retailers such as Wal-Mart, Best Buy, Target, Amazon, Costco and others who buy large volumes of our DVDs/Blu-ray discs to sell directly to consumers. Sales to Wal-Mart accounted for approximately 50% of net home entertainment packaged media revenue in fiscal 2020. We also directly distribute content to the rental market through Redbox, Netflix and others.

Of these titles, certain are released through our subsidiary, Grindstone Entertainment Group, which acquires and/or produces titles as finished pictures and as “pre-buys” based on script, cast and genres, and creates targeted key art, marketing materials and

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release plans, which are then distributed direct-to-video, VOD and through other media. In fiscal 2020, Grindstone Entertainment Group released 35 titles.

Additionally, we distribute television product including series such as American Gods, Ancient Aliens, Ash vs. Evil Dead, Blue Mountain State, Duck Dynasty, Fear the Walking Dead, Grace and Frankie, Narcos, Into the Badlands, Knightfall, MacGyver, Mad Men, Nurse Jackie, Orange Is The New Black, Power, Project Blue Book, The Royals, The Walking Dead, Vida, Weeds, Zoey’s Extraordinary Playlist, library titles such as Alf and Little House on the Prairie, certain Disney-ABC Domestic Television series, as well as premier children's brands including Saban Brand’s Power Rangers and Aardman’s Shaun the Sheep library.

Our year included the following:

In fiscal 2020, four of our theatrical releases, Cold Pursuit, Tyler Perry’s Madea Family Funeral, Rambo: Last Blood, and Midway debuted at number one on DVD/Blu-ray;
In fiscal 2020, we shipped approximately 45 million DVD/Blu-ray finished units;
In calendar 2019, we had an approximate 9% market share for home entertainment, making us the number six studio in market share overall;
In calendar 2019, we maintained a box office-to-home entertainment conversion rate of 25% above the industry average. Box office-to-home entertainment conversion rate is calculated as the ratio of the total of both first cycle DVD release revenues and total digital platform revenues for a theatrical release compared to the total North American box-office revenues from such theatrical release.

Digital Media

Digital media distribution involves delivering content (including certain titles not distributed theatrically or on physical media) by electronic means directly to consumers in-home and on mobile devices. The key distribution methods today include transactional distribution (such as electronic-sell-through (“EST”) and transactional video-on-demand (“TVOD”)), subscription video-on-demand (“SVOD”), ad-supported video-on-demand (“AVOD”) and free video-on-demand (“FVOD”), as well as distribution through various linear pay, basic cable and free, over-the-air television platforms.
 
We directly distribute our content to digital transactional distribution platforms and networks including, among others, AMC Theaters On Demand, Amazon, Apple, Vudu, Google Play, Fandango NOW, Microsoft's Movies & TV, and Sony's PlayStation Network. Digital SVOD services to which we license our content include, among others, Netflix, Hulu, and Amazon Prime. AVOD services to which we license our content include, among others, The Roku Channel, Tubi TV, YouTube, IMDb, Pluto and Peacock. We also directly distribute our content to other transactional distribution platforms, including, among others, MVPDs like Altice USA, Comcast, DIRECTV, DISH Network, and Verizon Fios.
 
Linear networks to which we distribute our content include, among others, pay television networks such as Starz, EPIX, HBO and Showtime, and basic cable network groups such as NBCUniversal Cable Entertainment, FX, ViacomCBS Domestic Media Networks, Turner Entertainment Networks, A+E Networks and AMC Networks, as well as Freeform, Reelz, Bounce, Telemundo and UniMás.

In fiscal 2020, we achieved the following:

Eight titles we distributed, Cold Pursuit, Tyler Perry’s Family Funeral, Long Shot, John Wick Chapter 3, Rambo: Last Blood, Midway, Knives Out, and Bombshell debuted at the number one ranking on the Rentrak On-Demand charts.
Five of our titles reached the number one ranking on the iTunes’ movie charts, including John Wick Double Feature, Long Shot, Knives Out, John Wick 3, and Angel Has Fallen.

Motion Picture - Television

We license our theatrical productions and acquired films to the domestic linear pay, basic cable and free television markets. For additional information regarding such distribution, see Motion Picture-Home Entertainment - Digital Media above.

Motion Picture - International

Our international sales operations are headquartered at our offices in London, England. The primary components of our international business are, on a territory by territory basis through third parties or directly through our international divisions:


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The licensing of rights in all media of our in-house feature film product and third party acquisitions on an output basis;
The licensing of rights in all media of our in-house product and third party acquisitions on a sales basis for non-output territories;
The licensing of third party feature films on an agency basis; and
Direct distribution of theatrical and/or ancillary rights licensing.

We license rights in all media on a territory by territory basis (other than the territories where we self-distribute) of (i) our in-house Lionsgate and Summit Entertainment feature film product, and (ii) films produced by third parties such as Black Label Media, CBS Films, Gold Circle Films, Participant Media, River Road Entertainment, Thunder Road Pictures and other independent producers. Films licensed and/or released by us internationally in fiscal 2020 included such in-house productions as Knives Out, Bombshell, I Still Believe, John Wick: Chapter 3 - Parabellum, Anna, and Long Shot. Third party films for which we were engaged as exclusive sales agent and/or released by us internationally in fiscal 2020 included Burden, Dark Waters, Playmobil, and Paradise Hills.

Through our territory by territory sales and output arrangements, we generally cover a substantial portion of the production budget or acquisition cost of new theatrical releases which we license and distribute internationally. Our output agreements for Lionsgate and Summit feature films currently cover 12 major territories including the following:

Australia/New Zealand;
Benelux (Belgium/Netherlands/Luxembourg);
Canada;
CIS (Commonwealth of Independent States);
Ex-Yugoslavia (e.g., Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Kosovo, Macedonia, Montenegro and Albania);
Eastern Europe (Bulgaria, Czech Republic, Hungary, Romania and Slovak Republic);
France;
Middle East;
Poland;
Scandinavia;
Singapore; and
Spain.

These output agreements generally include all rights for all media (including home entertainment and television rights). We also distribute theatrical titles in Latin America through our partnership with International Distribution Company and certain theatrical titles in China through our relationship with Hunan TV & Broadcast Intermediary Co.

We also self-distribute motion pictures in the United Kingdom and Ireland through Lions Gate International UK (“Lionsgate UK”). Lionsgate UK has established a reputation in the United Kingdom as a leading producer, distributor and acquirer of commercially successful and critically acclaimed product. In fiscal 2020, Lionsgate UK released the following 16 films theatrically:

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Fiscal 2020
Theatrical Releases - Lionsgate UK
Title
Release Date
Missing Link
April 5, 2019
Hellboy
April 11, 2019
Red Joan*
April 19, 2019
Long Shot
May 3, 2019
John Wick: Chapter 3 - Parabellum
May 17, 2019
Anna
July 5, 2019
The Queen's Corgi
July 5, 2019
Angel Has Fallen
August 21, 2019
Rambo: Last Blood
September 19, 2019
Skin
September 27, 2019
Farming*
October 11, 2019
Midway
November 8, 2019
Knives Out
November 27, 2019
Bombshell
January 17, 2020
The Personal History of David Copperfield*
January 24, 2020
 Military Wives**
March 6, 2020
* British film productions.
** Theatrical run terminated early due to the COVID-19 global pandemic.

Additionally, we have established an office in India to manage operations and growth opportunities in the South Asian/Indian sub-continent. Through our local office in Mumbai, we manage the following activities:

License our feature films, television series, library content to local linear and digital platforms;
Appoint and work closely with theatrical distribution partners to maximize box office for our films;
Partner with local production companies, as well as develop in-house, Indian local language television series and feature films for distribution across other media platforms;
Continue to expand our Starz’s offering in the region (branded as Lionsgate Play), through its launch in collaboration with Vodafone Idea and Airtel; and
Explore investment opportunities throughout the South Asian/Indian media market.

Motion Picture - Other

Global Live, Interactive and Location Based Entertainment

Our Global Live, Interactive and Location Based Entertainment division drives incremental revenue and builds consumer engagement across our entire portfolio of properties via licensing and launching of live shows and experiences, location-based entertainment destinations, games, and related merchandise around the world, and through select strategic partnerships and investments.

Our Global Live Entertainment business focuses on licensing, developing, and producing live stage shows, concerts, and live experiences and events based on our theatrical and television content.

Our Interactive Entertainment business focuses on growing our robust games slate that includes games across PC/console, mobile, casino, tabletop, virtual reality and more, as well as integration of our properties into franchise crossover events with marquee games. We also maintain strategic investments in Finnish mobile game developer/publisher Next Games, live-streaming native mobile gaming platform Mobcrush, and leading esports franchise Immortals.

Our Location Based Entertainment business licenses our Lionsgate, theatrical, and television brands for theme parks, destinations, attractions, and experiences. Our projects currently include, among others, Lionsgate Entertainment World in Hengqin, China, an indoor theme park which opened on July 31, 2019, and a Lionsgate branded theme park zone at the Motiongate Theme Park in Dubai, which opened in October of 2017. 


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Music

Our music department creatively manages music for our theatrical and television slates, including overseeing songs, scores and soundtracks for all of our theatrical productions, co-productions and acquisitions, as well as music staffing, scores and soundtracks for all of our television productions. Music revenues are derived from the sales and licensing of music from our films, television, and other productions, and the theatrical exhibition of our films and the broadcast and webcast of our productions.

Ancillary Revenues

Ancillary revenues are derived from the licensing of non-theatrical uses of our films and television content to distributors who, in turn, make such content available to airlines, hotels, schools, oil rigs, public libraries, prisons, community groups, the armed forces, ships at sea and others.

TELEVISION PRODUCTION

Our television business consists of the development, production, syndication and distribution of television programming. We principally generate revenue from the licensing and distribution of such programming to broadcast television networks, pay and basic cable networks, digital platforms and syndicators of first-run programming, which license programs on a station-by-station basis and pay in cash or via barter (i.e., trade of programming for airtime). Each of these platforms may acquire a mix of original and library programming.

After initial exhibition, we distribute programming to subsequent buyers, both domestically and internationally, including basic cable network, premium subscription services or digital platforms (known as “off-network syndicated programming”). Off-network syndicated programming can be sold in successive cycles of sales which may occur on an exclusive or non-exclusive basis. In addition, television programming is sold on home entertainment (packaged media and via digital delivery) and across all other applicable ancillary revenue streams including music publishing, touring and integration.

As with film production, we use tax credits, subsidies, and other incentive programs for television production in order to maximize our returns and ensure fiscally responsible production models.

Television Production - Television

Lionsgate Television

We currently produce, syndicate and distribute nearly 60 television shows on more than 25 networks (including programming produced by Pilgrim Media Group, of which we own a majority interest).

In fiscal 2020, scripted and unscripted programming produced, co-produced or distributed by us and our affiliated entities (see Starz Original Programming below for original programming that appears on our Starz services), as well as programming syndicated by our wholly-owned subsidiary, Debmar-Mercury, included the following:




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Fiscal 2020
Scripted - Lionsgate
Title
Network
Dear White People
Netflix
Florida Girls
Pop
Greenleaf
OWN
High Town
Starz
Leavenworth
Starz
MacGyver
CBS
Manhunt: Deadly Games
Charter
Mythic Quest
Apple+
Orange Is The New Black
Netflix
Power
Starz
Power Confidential
Starz
P-Valley
Starz
The Rook
Starz
Vida
Starz
Zoey's Extraordinary Playlist
NBC


Fiscal 2020
Unscripted - Lionsgate
Title
Network
Chasing the Cure
TNT
De Viaje con los Derbez
Pantaya
Gooseberry
Comedy Central
Grant
History
Kevin Hart: Don't F**k This Up
Netflix
Kevin Hart: What The Fit
YouTube
Kevin Hart's Laugh Out Loud
Bounce
Raise The Bar
YouTube
Revenge Body With Khloé Kardashian
E!
Selling Sunset
Netflix
Skindecision
Netflix


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Fiscal 2020
Unscripted - Pilgrim Media Group
Title
Network
American Wreckers
History
Driven
Discovery
Fast & Loud
Discovery
Ghost Hunters
A&E
My Big Fat Fabulous Life
TLC
Street Outlaws
Discovery
Street Outlaws: Fastest in America
Discovery
Street Outlaws Memphis
Discovery
Street Outlaws: No Prep King
Discovery
Switching Gears
Discovery
Wicked Tuna
Nat Geo
Wicked Tuna Outer Banks
Nat Geo
Zombie House Flipping
FYI

Fiscal 2020
Syndication - Debmar-Mercury
Title
Ambitions
Bojack Horseman
Caught In Providence
Family Feud
House of Payne
Meet The Browns
Wendy Williams

Starz Original Programming

For information regarding production of Starz original programming, see Media Networks - Starz Networks - Starz Original Programming.
    
Television Production- International

We continue to expand our television business through international sales and distribution of original Lionsgate television series, Starz original programming, third party television programming and format acquisitions via packaged media and various digital platforms.

Lionsgate UK also continues to build a robust television business alongside its premier film brand through its various joint ventures and investments. Lionsgate UK holds interests in, and has strategic partnerships with, television and film production company Kindle Entertainment, television production company Further South Productions and television drama company Potboiler Television.

In fiscal 2020, Lionsgate UK television programming (developed in-house and through Lionsgate UK’s interest and partnerships) included the following:

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Fiscal 2020
Television - Lionsgate UK
Title
Network
Partner(s)
Kiss Me First
Channel 4/Netflix
Kindle Entertainment, Balloon Entertainment
The A-List
BBC3
Kindle Entertainment
Jerk
BBC3
Primal Media, Roughcut TV
Motherland Series 2
BBC
BBC, Merman, Delightful
The Goes Wrong Show
BBC
Mischief Screen, Big Talk, BBC
Cold Courage
Viaplay
Luminoir

Television Production - Home Entertainment

For information regarding television production home entertainment revenue, see Motion Picture - Home Entertainment above.

Television Production - Other

Other revenues are derived from, among others, the licensing of our television programs to other ancillary markets, the sales and licensing of music from the television broadcasts of our productions, and from our interest in 3 Arts Entertainment, a talent management company. 3 Arts Entertainment receives commission revenue from talent representation and are producers on a number of television shows and films where they receive an executive producer fee and back-end participations.

MEDIA NETWORKS

Media Networks - Starz Networks - United States

Starz is a leading provider of premium subscription video programming to MVPDs in the U.S., including cable operators (such as Comcast and Charter), satellite television providers (such as DIRECTV and DISH Network), OTT providers (such as Amazon, Apple, Google and Hulu), telecommunications companies (such as AT&T and Verizon), and on a direct-to-consumer basis.

Our flagship premium service STARZ had 18.9 million subscribers as of March 31, 2020 (not including subscribers who receive programming free as part of a promotional offer). STARZ offers premium original series and recently released and library movies without advertisements. Our other services, STARZ ENCORE and MOVIEPLEX, offer theatrical and independent library movies as well as original and classic television series also without advertisements. Our services include 17 linear networks, on-demand and online viewing platforms, and a stand-alone direct-to-consumer service. The linear networks air over 1,000 movies per month from studio partners, including first-run content from Sony Pictures Entertainment, and have a growing line-up of successful original programming. Our services are offered by our Distributors to their subscribers either at a fixed monthly price as part of a programming tier or package or on an a la carte basis, or directly to consumers via the STARZ app at www.starz.com or through our retail partners (such as Apple and Google) for a monthly fee.

The table below depicts our 17 existing linear services, the respective on-demand service, the STARZ app service and highlights some of their key attributes.


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starzlogos.jpg
Demographics and Strategy

Designed to complement any basic television offering across traditional MVPD, wholesale and retail OTT and telecom distribution platforms, STARZ is a best-in-class subscription service delivering premium original series and hit movies with appeal to women and diverse audiences worldwide.

We are focused on developing and distributing authentic and engaging programming that resonates with women, African American, Latinx and LGBTQIA audiences, which have been traditionally underserved in the premium television space. Driven primarily by growing multiplatform viewership amongst these target audiences, Starz is positioned to continue to capture the digital television transition.

Across our digital platforms, the STARZ app provides an alternative for subscribers looking for a competitively priced option. Subscribers have access to a vast library of quality content and a top-rated user experience, along with the ability to download and watch STARZ original series, blockbuster theatricals and favorite classic TV series and movies without an internet connection.

This strategy, combined with a proven management team, will ensure Starz Networks’ services remain a “must have” for subscribers and a meaningful profit center for our Distributors, thereby driving value for our stockholders.

Affiliation agreements

Our services are distributed pursuant to affiliation agreements with our Distributors. These agreements require delivery of programming that meets certain standards. We earn revenue under these agreements either (i) based on the total number of subscribers who receive our services multiplied by rates specified in the affiliation agreements or (ii) based on amounts or rates which are not tied solely to the total number of subscribers who receive our services. Our affiliation agreements expire at various dates through 2026.


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We work with our Distributors to increase the number of subscribers to our services. To accomplish this, we may help fund the Distributors’ efforts to market our services or may permit Distributors to offer limited promotional periods without payment of subscriber fees. We believe these efforts enhance our relationship with Distributors, improve the awareness of our services and maximize subscribers and revenue over the term of these affiliation agreements.

Distributors report the number of subscribers to our services and pay for services, generally, on a monthly basis. The agreements are generally structured to be multi-year agreements with staggered expiration dates and certain of the agreements provide for annual contractual rate increases of a fixed percentage or a fixed amount, or rate increases tied to annual increases in the Consumer Price Index.

OTT service

The STARZ app is the single destination for both Distributor authenticated and direct OTT subscribers to stream or download our original series and movie content. The STARZ app:

Is available on a wide array of platforms and devices including Amazon Prime Video channels, Apple Channels, Hulu, Roku and You Tube, among others;
Includes on-demand streaming and downloadable access for internet-free viewing;
Offers instant access to approximately 7,500 selections each month (including STARZ original series and commercial free movies);
Is available for purchase as a standalone OTT service for $8.99/month; and
Is available as an additional benefit to paying MVPD subscribers of the Starz Networks’ linear premium services

Starz Original Programming

Starz Networks contracts with our Television Production segment and other independent production companies to produce original programming that appears on our Starz services.

Starz’s currently announced fiscal 2021 STARZ Originals line-up is as follows:

Title
Number of Episodes
Vida Season 3
6
High Town  Season 1
8
P-Valley Season 1
8
TBD 1
TBD
TBD 2
TBD
Power II: Ghost Season 1
10
Spanish Princess Part 2
8
TBD 3
TBD
American Gods Season 3
10
Run the World Season 1
8
TBD 4
TBD
Step Up Season 3
10
 
TBD


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Starz’s fiscal 2020 STARZ Originals line-up was as follows:

Title
Number of Episodes
Spanish Princess Part 1
8
Vida Season 2
10
The Rook Season 1
8
Sweetbitter Season 2
8
Power Season 6
15
Leavenworth (documentary series)
5
Dublin Murders
8
Wrong Man Season 2 (documentary series)
6
Outlander Season 5
12
 
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Lionsgate and Starz television programming have earned 235 Emmy® Award nominations including 37 wins, as well as numerous Golden Globe ® Awards, NAACP Awards, GLAAD Awards, Screen Actors Guild Awards nomination and wins.

Output and Content License Agreements

The majority of content on our services consists of movies that have been released theatrically. Starz has an exclusive long-term output licensing agreement with Sony for all qualifying movies released theatrically in the U.S. by studios owned by Sony through December 31, 2021. The Sony agreement, which began in 2001, includes all titles released under the Columbia, Screen Gems, Sony Pictures Classics and TriStar labels. Starz does not license movies produced by Sony Pictures Animation. Under this agreement, Starz has valuable exclusive rights to air new movies on linear television services, on-demand or online during two separate windows over a period of approximately three (3) to seven (7) years from their initial theatrical release. Generally, except on a VOD or pay-per-view basis, no other linear service, online streaming or other video service may air or stream these recent releases during Starz’s windows, and no other premium subscription service may air or stream these releases between the two windows.

Starz also licenses library content comprised of older, previously released theatrical movies from many of Hollywood’s major studios. In addition to theatrical movies, Starz licenses made for television movies, television series and other content from studios, production companies or other rights holders. The rights agreements for library content are of varying duration and generally permit Starz’s services to exhibit these movies, series and other programming during certain window periods.

A summary of significant output and library programming agreements (including a library agreement with Lionsgate) are as follows:

Significant output programming agreements
 
Significant library programming agreements
Studio
Term   (1)
 
Studio
Term
Sony . . . . . . . . . . . . . . . . . . . . . . . . .
12/2021
 
Paramount . . . . . . . . . . . . . . . . . . . .
08/2022
 
 
 
Warner Bros. . . . . . . . . . . . . . . . . . .
12/2022
 
 
 
Miramax . . . . . . . . . . . . . . . . . . . . . .
02/2023
 
 
 
Twentieth Century Fox. . . . . . . .   . . . .
02/2025
 
 
 
MGM . . . . . . . . . . . . . . . . . . . . . . . . .
04/2025
 
 
 
Sony Pictures. . . . . . . . . . . . . . . . . . . .
12/2025
 
 
 
Lionsgate . . . . . . . . . . . . . . . . . . . . . .
01/2026
 
 
 
Universal . . . . . . . . . . . . . . . . . . . . .
03/2027
(1) Dates based on initial theatrical release.
 
 
 
 

The Sony output agreement requires Starz to pay for movies at rates calculated on a pricing grid that is based on each film’s domestic box office performance (subject to maximum amounts payable per movie and a cap on the number of movies that can be put to Starz each year). The amounts Starz pays for library content vary based on each specific agreement, but generally reflect

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an amount per movie, series or other programming commensurate with the quality (e.g., utility and perceived popularity) of the content being licensed.

Transmission

We uplink our programming to four non-pre-emptible, protected transponders on two satellites positioned in geo-synchronous orbit. These satellites feed our signals to various swaths of the Americas. We lease these transponders under long-term lease agreements. These transponder leases have termination dates in 2023. We transmit to these satellites from our uplink center in Englewood, Colorado. We have made arrangements at a third party facility to uplink our linear channels to these satellites in the event we are unable to do so from our uplink center.

Regulatory Matters

In the U.S., the Federal Communications Commission (the “FCC”) regulates several aspects of our, and our distribution ecosystem’s operations and programming. This includes FCC oversight in connection with communications satellites and related uplink/downlink equipment and transmissions, content-specific requirements such as closed captioning, messaging during children’s programming, loudness of commercials, and program access requirements in connection with certain Distributors and programmer services with shared attributable interests. Additionally, as part of the FCC’s 2008 order approving the acquisition by Liberty Media Corporation (now known as Qurate Retail, Inc.) (“Liberty Media”) of a controlling interest in DIRECTV, the FCC imposed program access conditions on Liberty Media and its affiliated entities, which may remain applicable to Starz.

Online Services

To the extent that our programming services are distributed through online based platforms, we must comply with various federal and state laws and regulations applicable to online communications and commerce. Congress and individual states may consider additional legislation addressing online privacy and other issues.

Proposed Changes in Regulation
    
The regulation of programming services, cable television systems, direct broadcast satellite providers, broadcast television licensees and online distributed services is subject to the political process and has been in constant flux historically. Further material changes in the law and regulatory requirements must be anticipated and there can be no assurance that our business will not be materially adversely affected by future legislation, new regulation or deregulation.

Media Networks - Starz - International

STARZ is available in 50 countries outside the U.S. through our four (4) international branded services: STARZPLAY in Western Europe and Latin America; STARZ in Canada; LIONSGATE Play in India; and through our STARZPLAY Arabia joint venture in the Middle East and North Africa (see Joint Ventures, Partnerships and Ownership Interests below). These branded services are made available through OTT providers (such as Amazon and Apple), internet protocol television ("IPTV") providers (such as Orange and Vodafone), telecommunications companies (such as Orange and Vodafone), on a direct-to-consumer basis, and cable and satellite providers in Canada only. Across these services, Starz had 5.0 million subscribers as of March 31, 2020.

International Strategy

STARPLAY is positioned as a pure-play premium content service offered at a competitive subscription price, made available through a complementary retail and wholesale distribution strategy.
Premium content that targets all adults is the foundation of our international content strategy. We believe this allows us to operate as a complementary service, not a direct competitor, with other higher priced, broad based video services. STARZPLAY provides subscribers with access to STARZ original series, often airing day-and-date with the U.S., a rich and diverse Lionsgate library of television series, feature films and documentaries, and, to amplify content from the Starz domestic original programming slate, first-run, exclusive third-party programming, including locally produced television shows that align with the STARZ brand. Most content available on STARZPLAY is English-language, available with sub-titles and/or local language dubbing for each country. Starz also expects to co-produce local language content for some countries in the coming years.

We have priced STARZPLAY competitively on a territory by territory basis and made it available through a complementary wholesale and retail distribution strategy that has allowed us to quickly build out our distribution platform with 50 implementations across our 31 country footprint. Our distribution strategy is led with a wholesale model, where STARZPLAY is sold or bundled

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as an a la carte channel or bundled within our partners’ platforms, including Amazon and Apple, as well as local IPTV and Telco partners. Our wholesale distribution partners manage the technology and infrastructure associated with the exhibition of the STARZPLAY service in exchange for a share of the subscription revenue. To enhance our subscriber reach, we modified our domestic (U.S.) app for deployment internationally to include, among other new features, full European Union General Data Protection Regulation compliance, support for seven (7) languages, multiple audio/closed captioning options and a variety of potential carrier/billing integrations. We expect to launch with additional wholesale partners and deploy the STARZPLAY app in additional countries in the coming years.

STARZPLAY App

The STARZPLAY app is the single destination for direct OTT subscribers to stream on-demand or download our original series and movie content. The STARZPLAY app:

Is currently available in eight (8) countries across Europe and Latin America, including France, Germany, Spain, UK, Netherlands, Mexico and Brazil with additional countries to come;
The STARZPLAY app includes a language toggle allowing users to select their preferred language for viewing;
Offers instant access to approximately 1,000 selections each month (including original series and commercial free movies);
Is available for purchase as a standalone OTT service for £/€4.99 in Europe and ~$4.50 in Latin America.

Affiliation agreements

Our services are distributed pursuant to affiliation agreements with Distributors. These agreements require delivery of programming that meets certain standards. We earn revenue under these agreements either (i) based on the total number of subscribers who receive our services multiplied by rates specified in the affiliation agreements or (ii) in the case of India, the total number of our distributors’ monthly active video users who view our content multiplied by rates specified in the affiliation agreements. Our affiliation agreements expire at various dates through 2023.

We work with Distributors to increase the number of subscribers to our services. To accomplish this, we may help fund the Distributors’ efforts to market these services or may permit Distributors to offer limited promotional periods with discounted or no payment of subscriber fees. We believe these efforts enhance our relationship with Distributors, improve the awareness of our services and ultimately increase subscribers and revenue over the term of these affiliation agreements.

Distributors report the number of subscribers to our services and pay for services, generally, on a monthly basis. The agreements are structured on a country by country basis, to be multi-year agreements with staggered expiration dates by Distributor.

STARZPLAY Programming

STARZPLAY contracts with our Television Production segment and other major content licensors to acquire first-run original scripted series that appears on our STARZPLAY services.

STARZPLAY’s currently expected fiscal 2021 first-run STARZ Originals programming, which will be available to STARZPLAY across its footprint in Western Europe, Latin America and Canada, is as follows:


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Title
Number of Episodes
Vida Season 3
6
High Town Season 1
8
P-Valley S1
8
TBD 1
TBD
TBD 2
TBD
Power II: Ghost Season 1
10
Spanish Princess Part 2 (not available in Spain)
8
TBD 3
TBD
Run the World Season 1
8
TBD 4
TBD
Step Up Season 3
10
 
TBD

STARZPLAY’s fiscal 2020 first-run STARZ Originals programming and country availability was as follows:


Title
Countries Available
Number of Episodes
Dublin Murders
DE, FR, IT, ES, Benelux, LatAm, Brazil
8
The Rook
DE, FR, IT, ES, Benelux, LatAm, Brazil
8
Spanish Princess
UK, DE, FR, IT, Benelux, LatAm, Brazil
8
Vida
UK, DE, FR, IT, ES, Benelux, LatAm, Brazil
10
Sweetbitter
UK, DE, FR, IT, ES, Benelux, LatAm, Brazil
8
Power
ES
13
 
 
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STARZPLAY’s fiscal 2020 first-run third-party programming and country availability was as follows:

Title
Countries Available
Number of Episodes
Distributor
Pennyworth
UK, DE, IT, ES, Benelux, LatAm, Brazil
10
Warner Bros
Castle Rock
UK, DE, IT, Benelux, LatAm, Brazil
10
Warner Bros
The Act
UK, DE, FR, IT, Benelux, LatAm, Brazil
8
NBCU
Catch 22
DE, ES, Benelux
6
Paramount
Killing Eve
DE
8
Endeavor
Mr. Mercedes
UK, DE, FR, IT, LatAm, Brazil
10
Sony
 
 
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Media Networks - Other Streaming Services

Other Streaming Services represent revenues derived primarily from our majority owned premium Spanish language streaming services business, Pantaya. Pantaya is the first-ever premium streaming destination for world-class movies in Spanish offering the largest selection of current and classic, commercial-free blockbusters and critically acclaimed titles from Latin America and the U.S.

JOINT VENTURES, PARTNERSHIPS AND OWNERSHIP INTERESTS

Our joint ventures, partnerships and ownership interests support our strategy of being a multiplatform global industry leader in entertainment. We regularly evaluate our existing properties, libraries and other assets and businesses in order to determine whether they continue to enhance our competitive position in the industry, have the potential to generate significant long-term

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returns, represent an optimal use of our capital and are aligned with our goals. When appropriate, we discuss potential strategic transactions with third parties for purchase of our properties, libraries or other assets or businesses that factor into these evaluations. As a result, we may, from time to time, determine to sell individual properties, libraries or other assets or businesses or enter into additional joint ventures, strategic transactions and similar arrangements for individual properties, libraries or other assets or businesses. Certain of the Company’s joint ventures, partnerships and ownership interests include the following:


3 Arts Entertainment
In May 2018, we acquired a majority stake in 3 Arts Entertainment, a leading talent management and television/film production company.
 
 
Atom Tickets
In August 2014, we acquired an interest in Atom Tickets, a first-of-its-kind social movie ticketing app.
 
 
Pantelion Films
In September 2010, we launched Pantelion Films, a joint venture with Videocine, an affiliate of Televisa, which produces, acquires and distributes a slate of English and Spanish language feature films that target Hispanic moviegoers in the U.S.
 
 
Pilgrim Media Group
In November 2015, we acquired an interest in Pilgrim Media Group, a leader in unscripted programming.
 
 
Roadside Attractions
In July 2007, we acquired an interest in Roadside Attractions, an independent theatrical distribution company.
 
 
STARZPLAY Arabia
Launched in 2015, STARZPLAY Arabia is a personalized OTT entertainment service that operates in 19 Middle East/North African countries. STARZPLAY Arabia offers a deep selection of Hollywood movies and television series with English, Arabic and French language options, along with local Arabic and Bollywood content.

Intellectual Property

We currently use and own or license a number of trademarks, service marks, copyrights, domain names and similar intellectual property in connection with our businesses and own registrations and applications to register them both domestically and internationally. We believe that ownership of, and/or the right to use, such trademarks, service marks, copyrights, domain names and similar intellectual property is an important factor in our businesses and that our success depends, in part, on such ownership.

Motion picture and television piracy is extensive in many parts of the world, including South America, Asia and certain Eastern European countries, and is made easier by technological advances and the conversion of content into digital formats. This trend facilitates the creation, transmission and sharing of high quality unauthorized copies of content on packaged media and through digital formats. The proliferation of unauthorized copies of these products has had and will likely continue to have an adverse effect on our business, because these products may reduce the revenue we receive from our products. Our ability to protect and enforce our intellectual property rights is subject to certain risks and from time to time, we encounter disputes over rights and obligations concerning intellectual property. We cannot provide assurance that we will prevail in any intellectual property disputes.

Competition

Our businesses operate in highly competitive markets. We compete with companies within the entertainment and media business and from alternative forms of leisure entertainment, such as travel, sporting events, outdoor recreation and other cultural related activities. We compete with the major studios, numerous independent motion picture and television production companies, television networks, pay television services and digital media platforms for the acquisition of literary and film properties, the services of performing artists, directors, producers and other creative and technical personnel and production financing, all of which are essential to the success of our businesses. In addition, our motion pictures compete for audience acceptance and exhibition outlets with motion pictures produced and distributed by other companies. Likewise, our television product faces significant competition from independent distributors as well as major studios. Moreover, our networks compete with other programming networks for viewing and subscribership by each distributor’s customer base, as well as for carriage by such distributors. As a result, the success of any of our motion picture, television or media networks business is dependent not only on the quality and acceptance of a particular film or program, but also on the quality and acceptance of other competing content released into the marketplace at or near the same time as well as on the ability to license and produce content for the networks that is adequate in quantity and quality and will generate satisfactory subscriber levels.

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Given such competition, we attempt to operate with a different business model than others. We typically emphasize a lower cost structure, risk mitigation, reliance on financial partnerships and innovative financial strategies. Our cost structures are designed to utilize our flexibility and agility as well as the entrepreneurial spirit of our employees, partners and affiliates, in order to provide creative entertainment content to serve diverse audiences worldwide.

Impact of COVID-19 Global Pandemic

The impact of disruptions associated with the ongoing COVID-19 global pandemic and measures to prevent its spread and mitigate its effects both domestically and internationally, and the resulting unprecedented economic uncertainty, are affecting our business in a number of ways. To date, we have experienced early termination of the theatrical run of one of our films domestically and one of our films in the UK, delayed theatrical distribution of several films domestically and internationally, and delayed production of film and television content (resulting in changes in future release dates for some titles and series). Our partners have also closed several location-based entertainment attractions based on our film and television properties. Conversely, television and streaming consumption around the globe has increased as well as home entertainment demand. STARZ has experienced an increase in viewership of its content across all platforms as well as an increase in subscribers to its OTT services, both domestically and internationally. In a number of instances, we have also been able to adapt to these new circumstances by releasing one of our theatrical films earlier on streaming platforms, completing post-production of one of our television series remotely and continuing the development of a number of our television series utilizing virtual writers’ rooms. These changes in the way we operate may be helpful to partially offset some of the negative impacts from the pandemic; however, the ultimate impact of these changes and the COVID-19 global pandemic cannot be predicted with certainty. For additional information regarding the impact on our operating results, cash flows and financial position, and the other risks and uncertainties see Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Annual Report.

Social Responsibility and Employee Engagement

Lionshares

We are committed to acting responsibly and making a positive difference in the local and global community through Lionshares, the umbrella for our companywide commitment to our communities. Lionshares is a volunteer program that seeks to provide opportunities for employees within the Lionsgate family to partner with a diverse range of charitable organizations. The program not only enriches the Lionsgate work experience through cultural and educational outreach, but also positively interacts and invests in the local and global community.

Employee Resource Groups

We provide our employees with an opportunity to enhance cross-cultural awareness, develop leadership skills and network across the Company’s various business units and levels through resource groups including Lionsgate Multicultural Group, Lionsgate Pride, Lionsgate Vets and Lionsgate Women’s Empowerment Group.