What changed in this filing

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Item 1. Business

2023-05-25 compared with 2022-05-26 · 239 added, 344 removed, 316 unchanged (65% of the section changed)

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LGF.A, LGF.B) encompasses world-class motion picture and television studio operations aligned with the STARZ premium global subscription platform to bring a unique and varied portfolio of entertainment to consumers around the world.

Our film, television, subscription and location-based entertainment businesses are backed by a 17,000-title library and a valuable collection of iconic film and television franchises.

Our film, television, subscription and location-based entertainment businesses are backed by an 18,000-title library and a valuable collection of iconic film and television franchises.

We manage and report our operating results through three reportable business segments:

Motion Picture , Television Production and Media Networks .

We refer to our Motion Picture and Television Production segments collectively as our Studio Business.

We refer to our Motion Picture and Television Production segments collectively as our Studio Business and our Media Networks segment as our Media Networks Business .

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.

COVID-19 Global Pandemic

Since fiscal 2020, the economic, social and regulatory impacts associated with the ongoing COVID-19 global pandemic (including its variants), continued measures to prevent its spread, and the resulting economic uncertainty, have affected our business in a number of ways.

We experienced delays in theatrical distribution of our films, both domestically and internationally, as well as delays in the production of film and television content (resulting in continued changes in future release dates for some titles and series).

Although film and television production have generally resumed, we continue to see disruption of production activities depending on local circumstances.

We also cannot predict whether productions that have resumed will be paused again, or the impact of incremental costs required to adhere to health and safety protocols.

Additionally, although the lifting of quarantines have enabled many theaters to reopen, we are unable to predict how shifting government mandates or guidance regarding COVID-19 restrictions will impact patronage and theater capacity.

In turn, production delays (and fewer theatrical releases) have limited the availability of film content to be sold in distribution windows subsequent to the theatrical release, and have resulted in delays of release of new television content, including on our STARZ platform.

The impact of these disruptions and the extent of their adverse impact on our financial and operating results will be dictated by the length of time that such disruptions continue, which will, in turn, depend on the currently unknowable duration and severity of the impacts of COVID-19 and its variants, and among other things, the impact of governmental actions imposed in response to COVID-19 and individuals’ and companies’ responses regarding health matters going forward.

We have incurred and will continue to incur additional costs to address government regulations and the safety of our employees and talent.

For additional information regarding the impact of COVID-19 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.

Studio Business

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• 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).

The domestic theatrical release of motion pictures licensed to theatrical exhibitors on a picture-by-picture basis (distributed by us directly in the U.S.

and through a sub-distributor in Canada).

The revenues from Canada are reported net of distribution fees and release expenses of the Canadian sub-distributor.

The financial terms that we negotiate with our theatrical exhibitors in the U.S.

generally provide that we receive a percentage of the box office results.

• 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).

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.

The licensing of our theatrical productions and acquired films to the linear pay, basic cable and free television markets.

In addition, when a license in our traditional pay television window is made to a subscription video-on-demand ("SVOD") or other digital platform, the revenues are included here.

• 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 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.

The (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.

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:

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• 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.

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.

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• 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.

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.

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 and executive producer fees earned related to talent management.

The sale or rental of television production movies or series on packaged media and through digital media platforms.

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 and executive producer fees earned related to talent management.

Media Networks

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• Starz Networks.

Starz Networks’ revenues are derived from the domestic distribution of our STARZ branded premium subscription video services through over-the-top ("OTT") platforms and U.S.

multichannel video programming distributors (“MVPDs”) including cable operators, satellite television providers and telecommunications companies (collectively, “Distributors”) on a direct-to-consumer basis through the Starz App.

• STARZPLAY International .

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

The domestic distribution of our STARZ branded premium subscription video services through over-the top ("OTT") streaming platforms and distributors, on a direct-to-consumer basis through the Starz app, and through U.S.

multichannel video programming distributors (“MVPDs”) including cable operators, satellite television providers and telecommunications companies (collectively, “Distributors”) (and in the aggregate, the “Starz Domestic Platform”).

• LIONSGATE+ .

The OTT distribution of the Company's STARZ branded premium subscription video services outside of the U.S.

The Starz Domestic Platform together with the LIONSGATE+ platforms are referred to as the “Starz Platforms.”

Segment Revenue

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• Starz Networks, 90.3%;

• STARZPLAY International, 7.0%

• LIONSGATE+, 9.7%

Corporate Strategy

We 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.

We manage a large and diversified portfolio of film and television content that we license to theatrical exhibitors, streaming, broadcast, pay cable and other platform partners worldwide.

We maintain a disciplined, targeted and cost-effective approach to the acquisition, production, marketing and distribution of that content.

Our strategic focus on content makes us a preferred supplier to third-party buyers as well as our own STARZ platform.

The extension of our portfolio of brands and franchises, creation of new intellectual properties and rigorous focus on retaining key rights to our content is designed to create incremental long-term value for our shareholders through a combination of current releases and one of the most valuable film and television libraries in the world.

STUDIO BUSINESS:

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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.

Concurrent with their release in the U.S., films are generally released in Canada and may also be released in one or more foreign countries.

We construct release schedules taking into account moviegoer attendance patterns and competition from other studios' scheduled theatrical releases.

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.

As a result of the COVID-19 global pandemic, in certain circumstances, our distribution strategy has and may continue to change, and certain films intended for theatrical release may be licensed to other platforms.

In certain circumstances, our distribution strategy has and may continue to change, and certain films intended for theatrical release may be licensed to other 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.

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Theatrical Releases

In fiscal 2022 (i.e., the twelve-month period ended March 31, 2022), with continued closures and limited re-opening of theaters resulting from the COVID-19 global pandemic, we released sixteen (16) films theatrically in the U.S.

across our labels (which include Lionsgate, Summit Entertainment, Good Universe and our partnership with Roadside Attractions).

We also made changes to release dates as well as release strategies of several of our films by releasing solely and/or earlier on streaming platforms, initially releasing on premium video-on-demand ("PVOD"), premium electronic sell-through (“PEST”), or by licensing directly to streaming platforms.

In fiscal 2022, such titles and their release patterns included the following:

Film Releases via Lionsgate/Summit

For the fiscal year ended March 31, 2023, we released twenty (20) films theatrically in the U.S.

across our labels (including our partnership with Roadside Attractions).

We also made changes to release dates as well as release strategies of several of our films by releasing solely and/or earlier on streaming platforms, initially releasing on premium video-on-demand (“PVOD”), premium electronic sell-through, or by licensing directly to streaming platforms.

In doing so, we capitalized on increased optionality in distribution and maintained a platform agnostic approach to distribution to take full advantage of new windowing opportunities and alternative distribution strategies (while also continuing to work closely with our theatrical exhibition partners).

For the fiscal year ended March 31, 2023, such titles and their release patterns included the following:

Theatrical Releases

Theatrical Release Date

Release Pattern

Label/Partnership

Chaos Walking†

March 5, 2021

Theatrical and PVOD

The Unbearable Weight Of Massive Talent April 22, 2022 Theatrical and Accelerated Home Entertainment Lionsgate

Fall August 12, 2022 Theatrical and Accelerated Home Entertainment Lionsgate

Clerks III September 13, 2022 Eventized Theatrical Lionsgate

Prey for the Devil October 28, 2022 Theatrical and Accelerated Home Entertainment Lionsgate

Plane January 13, 2023 Theatrical and Premium Video-on-Demand Lionsgate

Jesus Revolution February 22, 2023 Theatrical and Accelerated Home Entertainment Lionsgate

My Happy Ending February 24, 2023 Theatrical and Accelerated Home Entertainment Lionsgate

Moving On March 17, 2023 Theatrical and Accelerated Home Entertainment Lionsgate

Operation Fortune:

Ruse de Guerre March 21, 2023 Theatrical and Premium Video-on-Demand Lionsgate

Chapter 4 March 24, 2023 Theatrical and Accelerated Home Entertainment Lionsgate

Theatrical Releases

Theatrical Release Date

Release Pattern

April 8, 2022

Theatrical and PVOD

The Hitman's Wife's Bodyguard

June 16, 2021

Theatrical and Accelerated Home Entertainment

August 20, 2021

Roadside Attractions

April 29, 2022

Theatrical and Accelerated Home Entertainment

Ghost in the Shell (1995)

September 17, 2021

Theatrical Re-release

The Jesus Music

October 1, 2021

American Underdog

December 25, 2021

Roadside Attractions

Theatrical and Accelerated Home Entertainment

February 4, 2022

Roadside Attractions

Theatrical and Accelerated Home Entertainment

† PVOD release on April 2, 2021

†† PVOD release on April 30, 2021

††† PVOD release on June 1, 2021

Film Releases via Roadside Attractions

Release Pattern

Label/Partnership

March 19, 2021

Theatrical and PVOD

Roadside Attractions

Theatrical and Premium Video-on-Demand

Roadside Attractions

Just a Girl Who Decided to Go For It

June 18, 2021

Emily the Criminal

August 12, 2022

Theatrical and Premium Video-on-Demand

Roadside Attractions

July 23, 2021

Theatrical, PVOD and PEST

September 2, 2022

Theatrical and Accelerated Home Entertainment

Roadside Attractions

The Good House

September 30, 2022

Theatrical and Premium Video-on-Demand

Roadside Attractions

Hard Luck Love Song***

October 28, 2022

Theatrical and PVOD

Theatrical and Accelerated Home Entertainment

Roadside Attractions

March 18, 2022

December 9, 2022

Theatrical and Accelerated Home Entertainment

Roadside Attractions

* PVOD release on April 16, 2021

** PVOD and PEST release on August 13, 2021

*** PVOD release on November 11, 2021

With the continuation of theatrical production in fiscal 2022, we are capitalizing on increased optionality in distribution and maintain a platform agnostic approach to distribution to take full advantage of new windowing opportunities and alternative distribution strategies (while also continuing to work closely with our theatrical exhibition partners).

Nominations and Awards

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.

Lionsgate and affiliated companies (including its wholly-owned subsidiaries, Artisan Pictures, Mandate Pictures and Summit Entertainment, and Roadside Attractions, of which Lionsgate owns a 43% equity interest) have distributed films that have earned 134 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

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, Trimark and Roadside Attractions), as well as titles from third parties such as A24, A&E, AMC, Entertainment Studios, Saban Entertainment, StudioCanal, and Tyler Perry Studios.

home entertainment distribution operation exploits our film and television content library of 18,000 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, Roadside Attractions, Trimark and Vestron), as well as titles from third parties such as A24, A&E, AMC, Entertainment Studios, Saban Entertainment, StudioCanal, Zoetrope, Gravitas, and Tyler Perry Studios.

Home entertainment revenue consists of packaged media and digital revenue.

Packaged Media

Packaged media distribution involves the marketing, promotion, 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 and others who buy large volumes of our DVDs/Blu-ray discs to sell directly to consumers.

Packaged media distribution involves the marketing, promotion, sale and/or lease of DVDs/Blu-ray/4K Ultra HD discs to wholesalers and retailers in the U.S.

and Canada who then sell or rent such discs to consumers for private viewing.

Fulfillment of physical distribution services are substantially licensed to Sony Pictures Home Entertainment.

We distribute or sell content directly to retailers such as Wal-Mart, Best Buy, Target, Amazon and others who buy large volumes of our discs to sell directly to consumers.

We also directly distribute content to the rental market through Redbox, Netflix and others.

Digital Media

Lionsgate directly distributes content (including certain titles not distributed theatrically or on physical media) across a wide range of global distribution platforms and networks on an on-demand basis (whereby the viewer controls the timing of playback) through dozens of transactional (transactional video-on-demand and electronic-sell-through), subscription, ad-supported and free video-on-demand platforms.

We consider alternative distribution strategies for our films and releases several titles solely and/ or in an accelerated post-theatrical window on various digital platforms (including multi-platform distribution).

We directly distribute this and other content (including certain titles not distributed theatrically or on physical media) across a wide range of global distribution platforms and networks on an on-demand basis (whereby the viewer controls the timing of playback) through dozens of transactional (transactional video-on-demand and electronic-sell-through), subscription, ad-supported and free video-on-demand platforms.

We also directly distribute content on a linear distribution basis (i.e., whereby the programmer controls the timing of playback) through various linear pay, basic cable, and free, over-the-air television platforms worldwide.

Subscription video-on demand services to which we license our content include, among others, Netflix, Hulu, Amazon Prime, Peacock, Paramount+ and HBO Max;

ad-supported video-on-demand services to which we license our content include, among others, The Roku Channel, Tubi TV, YouTube, IMDb, and Pluto;

and 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, Paramount Global Domestic Media Networks, Disney Media & Entertainment Distribution Networks, Turner Entertainment Networks, A+E Networks and AMC Networks, as well as Bounce, Telemundo and UniMás.

Fiscal 2022, like fiscal 2021, saw a continued shift in our release strategies due to a combination of the COVID-19 global pandemic and acceleration of secular trends already underway in the windowing of our motion picture product.

With many theatres operating at limited capacity due to various state-by-state health restrictions, we leaned into hybrid theatrical/streaming, early PVOD models for some of our films and other dynamic windowing distribution models.

Coupled with the surge in content demand across all home entertainment platforms, digital media consumption increased with three (3) of our titles, The Hitman’s Wife’s Bodyguard , The Courier and City of Lies , all reaching number one (1) on the iTunes movie charts, and three (3) of our titles, The Hitman’s Wife’s Bodyguard , City of Lies and Midnight on the Switchgrass , all debuting at number one (1) on the Comscore On-Demand Chart.

SVOD services to which we license our content include, among others, Netflix, Hulu, Amazon’s Prime Video, Peacock, Paramount+ and Max;

ad-supported video-on-demand services to which we license our content include, among others, The Roku Channel, Tubi TV, YouTube, Freevee, Samsung and Pluto;

and 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, Paramount Global Domestic Media Networks, Disney Media & Entertainment Distribution Networks, Warner Media Entertainment Networks, A+E Networks and AMC Networks, as well as Bounce, Telemundo and UniMás.

Motion Picture - Television

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• 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 Silver Reel, Buzzfeed, Gold Circle Films, Ace Entertainment and other independent producers.

Films licensed and/or released by us internationally in fiscal 2022 included such in-house productions as About My Father, American Underdog, Barb and Star Go to Vista Del Mar, Borderlands, Christmas is Canceled, John Wick:

Chapter 4, Shotgun Wedding, Spiral , and Unbearable Weight of Massive Talent.

Third party films for which we were engaged as exclusive sales agent and/or released by us internationally in fiscal 2022 included Paradise Highway .

Films licensed and/or released by us internationally in fiscal 2023 included such in-house productions as John Wick:

Chapter Four, Unbearable Weight of Massive Talent , Prey For the Devil , Bagman , Dirty Dancing , Mindcage , Motherland , Alice Darling , Ballad of Songbirds and Snakes , One Ranger , Untitled Saw, Float , Puppy Love , Love in Taipei , The Blackening , Imaginary and Miller’s Girl .

Third party films for which we were engaged as exclusive sales agent and/or released by us internationally in fiscal 2023 included Paradise Highwa y.

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.

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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, as well as theatrical rights in Canada through our partnership with Mongrel Media and Cineplex.

We also distribute theatrical titles in Latin America through our partnership with International Distribution Company, as well as theatrical rights in Canada through our prior partnership with Mongrel Media and our new distribution arrangement with Cineplex.

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.

After a limited theatrical slate in fiscal 2021 due to the closure and limited re-opening of cinemas as a result of the COVID-19 pandemic, we were able to release more titles theatrically in fiscal 2022, as the industry began to recover and cinemas began to re-open in May 2021.

We also, however, continued with our revised strategies for our titles, releasing on PVOD streaming platforms or by licensing directly to streaming services.

Such titles and their release patterns included the following:

Fiscal 2022 Releases

Title Release Date

Antebellum* April 2, 2021

Wild Mountain Thyme** April 30, 2021

From the Book of Saw May 17, 2021

Ammonite May 17, 2021

The Outpost* June 4, 2021

The Father June 11, 2021

Made In Italy* June 11, 2021

The Hitman’s Wife’s Bodyguard June 18, 2021

The Courier August 13, 2021

Ghost In The Shell (1995) (Re:

2021) September 17, 2021

Dune (1984) (Re:

2021) September 24, 2021

Mothering Sunday November 12, 2021

Wrath of Man* December 10, 2021

* Released on PVOD.

** Sold to streaming service.

Following the closures and gradual re-opening of theatres during fiscal years 2021 and 2022 as a result of the COVID-19 global pandemic, we were able to release more titles theatrically through Lionsgate UK in fiscal 2023 than in such previous years, including the following:

Title Theatrical Release Date

The Unbearable Weight of Massive Talent April 22, 2022

Good Luck To You Leo Grande June 17, 2022

Clerks III September 15, 2022

Prey For The Devil October 28, 2022

Triangle of Sadness October 28, 2022

Living November 4, 2022

Alice, Darling January 20, 2023

Plane January 27, 2023

Chapter 4 March 24, 2023

Additionally, our office in India manages operations and growth opportunities in the South Asian/Indian sub-continent.

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• 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 and across emerging Asian markets (branded as Lionsgate Play), through our direct-to-consumer launch and in collaboration with telco partners, Amazon and Apple TV;

• Explore investment opportunities throughout the South Asian and South East Asian 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 live shows and experiences, location-based entertainment destinations, games, physical and digital merchandise, and through select strategic partnerships and investments.

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

We have announced multiple live entertainment projects, including Wonder and Nashville for Broadway, as well as a live dance show inspired by our Step Up film franchise in partnership with Channing Tatum and Free Association.

Our Interactive Entertainment business focuses on growing a slate that includes games across PC/console, mobile, virtual reality and more, integration of our properties into with marquee games such as Call of Duty , Dead By Daylight and the upcoming Evil Dead:

The Game , as well as NFT projects, including as part of a first look deal with Autograph.

Global Products and Experiences

Our Global Products and Experiences division drives incremental revenue and builds consumer engagement across our entire portfolio of properties via licensing and launching live shows and experiences, location-based entertainment destinations, games, physical and digital merchandise, and through select strategic partnerships and investment s.

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

We have announced multiple live entertainment projects, including Wonder , Nashville and La La Land for Broadway, as well as a live dance show inspired by our Step Up film franchise in partnership with Channing Tatum and Free Association.

Our Interactive Entertainment business focuses on growing a slate that includes games across PC/console, mobile, virtual reality and more, both through stand-alone games based solely on our content and the integration of our properties with marquee games such as Call of Duty , Dead By Daylight and Evil Dead:

The Game , as well as Web3 projects, including the SANDBOX.

Our Location Based Entertainment business licenses and produces our Lionsgate, theatrical, and television brands for theme parks, destinations, and stand-alone attractions and experiences.

In January 2022, we opened an expansion of the Lionsgate zone at Motiongate Dubai which features two new roller coasters themed to our John Wick and Now You See Me franchises.

Additionally, Escape Blair Witch opened in Las Vegas in August of 2021, and serves as an additional companion attraction to The Official Saw Escape , now in its fourth year of operation.

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.

In January 2022, we opened an expansion of the Lionsgate zone at Motiongate Dubai featuring new John Wick and Now You See Me attractions, and in February 2023, we opened Saw:

The Experience in London.

Our Consumer Products business licenses and develops products around our leading film and television properties, including John Wick , The Hunger Games , Twilight , Saw and Mad Men .

In July 2022, we signed an agreement with IMG for global consumer products representation.

Our merchandise is available in the Lionsgate Store, our official ecommerce shop, and at many well- known retail outlets such as Hot Topic and Target.

We are developing new offerings across a broad range of categories with best in class licensees, including American Classics, Ripple Junction, Goodie Two-Sleeves, Hot Toys, Funko and more.

We manage 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.

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Lionsgate Television

Despite initial production delays and changes to future network release dates as a result of the ongoing COVID-19 global pandemic, we completed production on a number of television series.

We currently produce, syndicate and distribute nearly 80 television shows on more than 35 networks (including programming produced by Pilgrim Media Group, of which we own a majority interest).

In fiscal 2022, 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:

Scripted - Lionsgate

Title Network

Acapulco Apple

Black Mafia Family Starz

Blindspotting Starz

Dear White People Netflix

For the fiscal year ended March 31, 2023, 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:

Fiscal 2023 Fiscal 2023

Scripted - Lionsgate Unscripted - Lionsgate

Title Network Title Network

Acapulco Apple 1619 Hulu

Black Mafia Family STARZ Derbez Family Vacation Pantaya

Blindspotting STARZ Hip Hop Homicides WE TV

Dangerous Liaisons STARZ House of Ho Max

Ghosts CBS Selling Sunset Netflix

Heels STARZ Selling the OC Netflix

Hightown STARZ

Home Economics ABC

Julia Child HBO Max

Love Life HBO Max

Love & Death Max

Mythic Quest Apple

Party Down STARZ

Goldman Peacock

Power Book II:

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Serpent Queen STARZ

Step Up Starz

Swimming with Sharks Roku

The First Lady Showtime

We Thought We Were Done NBC

Welcome to Flatch Fox

Zoey's Extraordinary Playlist NBC

Zoey's Extraordinary Christmas Roku

Unscripted - Lionsgate

Title Network

De Viaje con los Derbez Pantaya

Selling Sunset Netflix

The Real Dirty Dancing Fox

Unscripted - Pilgrim Media Group

Title Network

Ghost Hunters Discovery

Hoffman Family Gold Discovery

Horse for Dogs Animal Planet

My Big Fat Fabulous Life TLC

Fiscal 2023 Fiscal 2023

Unscripted - Pilgrim Media Group Syndication - Debmar-Mercury

Title Network Title

Fox Nation - Jussie Smollet Fox Nation Family Feud

Ghost Hunters 3.0 Discovery Nick Cannon

Hoffman Family Gold Discovery Schitt's Creek

Horse for Dogs Animal Planet Sherri Shepherd

My Big Fat Fabulous Life TLC Wendy Williams

Renovation Impossible Discovery

Road to the Title TBS

Steve Austin A&E

Street Outlaws Discovery

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Street Outlaws:

Endgame Discovery

Street Outlaws:

Farm Truck & AZN Discovery

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Street Outlaws:

Memphis Discovery

Street Outlaws:

No Prep Kings Grudge Night Discovery

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Zombie Flippers A&E

Syndication - Debmar-Mercury

Schitt's Creek

Wendy Williams

Hoffman Family Gold Fox Nation

Starz Original Programming

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Lionsgate UK also continues to build a robust television business alongside its premier film brand through its various joint ventures and investments.

After the pause in television production in fiscal 2021 due to the COVID-19 global pandemic, Lionsgate UK television programming (developed in-house and through Lionsgate UK’s interest and partnerships) that continued, began production, was produced or was broadcast in fiscal 2022, included the following:

For the fiscal year ended March 31, 2023, Lionsgate UK television programming that was acquired, began production, continued production after delays due to the COVID-19 global pandemic, was produced or was broadcast, included the following:

Television - Lionsgate UK

Title Network Partner(s)

The Pact BBC Wales Little Door

Motherland Series 3 BBC BBC, Merman

The Goes Wrong Show Series 2 BBC Mischief Screen, Big Talk, BBC

Son of a Critch CBC Project 10, CBC

The Pact Series 2 BBC Little Door

Motherland 2022 Christmas Special BBC BBC, Merman

Northern Lights TG4 Deadpan

Son of a Critch 2 CBC Project 10

Leopard Skin Peacock Skinny Leopard

Wong & Winchester Rogers & Québecor Pixcom International

Workin’ Moms Netflix & CBC Coldsprings Media,

Wolf + Rabbit Entertainment

The Cleaner Sky NZ Endeavour Ventures

Prosper Stan Lingo Pictures

Television Production - Home Entertainment

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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.

Other revenues are derived from, among others, the licensing of our television programs to other ancillary distributors, 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.

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Starz Networks is a leading provider of premium subscription video programming to consumers in the U.S.

We sell our services on a direct-to-consumer basis and through various other platforms, including OTT providers (such as Amazon, Apple, Google and Hulu), MVPDs, including cable operators (such as Comcast and Charter), satellite television providers (such as DIRECTV and DISH Network), and telecommunications companies (such as AT&T and Verizon).

We sell our services on a direct-to-consumer basis and through various distributors, including OTT providers (such as Amazon, Apple, Google and Hulu) and MVPDs (such as Comcast, Charter, DIRECTV and DISH Network).

Our flagship premium service STARZ had 20.3 million subscribers as of March 31, 2023 (not including subscribers who receive programming free as part of a promotional offer).

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Our app and online viewing platforms offer thousands of monthly movies and series episodes from studio partners, including first-run content, along with a growing line-up of successful original programming.

Our services are offered 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, or by our distributors to their subscribers either at a fixed monthly price as part of a programming tier, package or bundle with other products or services, or on an a la carte basis.

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

Our services are offered directly to consumers via the STARZ app and via our website at www.starz.com as well as through our retail partners (such as Apple and Google) for a recurring fee, or by our distributors to their subscribers either at a recurring price as part of a programming tier, package or bundle with other products or services, or on an a la carte basis.

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

Demographics and Strategy

Designed to complement any basic television offering across both wholesale and retail OTT, as well as traditional MVPD 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.

Designed to complement any television offering for general audiences across both wholesale and retail OTT, as well as traditional MVPD 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, all of 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.

We believe 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.

Affiliation Agreements

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We earn revenue under these agreements either (i) based on amounts or rates tied to the total number of subscribers who receive our services 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.

Our affiliation agreements expire at various dates into 2027.

We work with our distributors to increase the number of subscribers to our services.

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The STARZ app:

• Is available for purchase as a standalone OTT service for $8.99/month;

• Is available for purchase as a standalone OTT service for a recurring monthly fee;

• Is available on a wide array of platforms and devices including Amazon Fire, iOS, Android and Roku, among others;

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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 2023 STARZ Originals line-up is as follows:

STARZ is a leader in high-quality, bold premium programming developed for women and underrepresented audiences.

Its slate is driven by critically-acclaimed and award-winning scripted original series with highly-engaged audiences.

STARZ Original Series like “Outlander” and “Power” have become tentpole franchises with multiple spinoff and derivative series to meet audience demand.

STARZ also has brought audiences groundbreaking new series including “P-Valley,” “BMF,” and “The Serpent Queen,” among many others.

STARZ is dedicated to bringing its audiences new content throughout the year with approximately 100 new episodes on its slate each year.

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

Starz’s fiscal 2023 STARZ Originals line-up was as follows:

Gaslit Season 1

Who Is Ghislaine Maxwell (limited series)

Becoming Elizabeth Season 1

P-Valley Season 2

Becoming Elizabeth Season 1

Who Is Ghislaine Maxwell (limited series)

Power Book III:

Raising Kanan Season 2

Dangerous Liaisons Season 1

Serpent Queen Season 1

Step Up Season 3

The BMF Documentary:

Blowing Money Fast

Step Up Season 3

Dangerous Liaisons Season 1

Party Down Season 3

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Total Episodes:

Starz’s fiscal 2022 STARZ Originals line-up was as follows:

Confronting a Serial Killer Season 1

The Girlfriend Experience Season 3

Run the World Season 1

Little Birds (limited series)

Blindspotting Season 1

Power Book III:

Raising Kanan Season 1

Heels Season 1

Hightown Season 2

Power Book II:

Ghost Season 2

Power Book IV:

Force Season 1

Shining Vale Season 1

Outlander Season 6

Total Episodes:

Lionsgate and Starz television programming have earned 241 Emmy® Award nominations including 38 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.

The majority of acquired content on our services consists of movies that have been released theatrically.

Starz has an exclusive multiyear output licensing agreement with Lionsgate for Lionsgate label titles theatrically released in the U.S.

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These satellites feed our signals to various swaths of the Americas.

We lease these transponders under agreements that have termination dates in 2023.

We currently are evaluating our options regarding transponder leasing arrangements following the expiration of the current agreements.

We transmit to these satellites from our uplink center in Englewood, Colorado.

We have made arrangements at a vendor’s facility to uplink our linear channels to these satellites in the event we are unable to do so from our uplink center.

We lease these transponders under recently renewed multi-year agreements.

We currently transmit to these satellites from our uplink center in Englewood, Colorado, but will be moving our primary uplink facilities from the Englewood location and outsourcing them to a third party starting in the fall of 2023.

We have made arrangements at a vendor’s facility to uplink our linear channels to these satellites in the event we are unable to do so from our primary uplink facilities.

Regulatory Matters

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Further material changes in the law and regulatory requirements that affect our business must be anticipated and there can be no assurance that we will not be materially adversely affected by future legislation, new regulation or deregulation.

Media Networks - Starz - International

Starz is available in 60+ countries outside the U.S.

Media Networks - LIONSGATE+ - International

Starz is available in nearly 50 countries outside the U.S.

through our four (4) international branded services:

STARZPLAY in Western Europe, Latin America and Japan;

LIONSGATE+ in the UK, Ireland, Latin America and Australia;

STARZ in Canada;

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and through our STARZPLAY Arabia joint venture in the Middle East and North Africa.

These branded services are made available through OTT providers (such as Amazon and Apple), internet protocol television ("IPTV") providers (such as Airtel), PayTV companies (such as Izzi), on a direct-to-consumer basis, and cable and satellite providers in Canada only as a linear service.

Across these services, Starz had 12.8 million subscribers as of March 31, 2022.

The remainder of this section addresses the offerings operated by STARZPLAY in the 35-country footprint across Western Europe, Latin America and Japan.

We offer our branded services on a direct-to-consumer basis and through various distributors, including OTT providers (such as Amazon and Claro) as well as local internet protocol television (“IPTV”), cable and satellite companies (such as Airtel, Izzi, DISH Mexico and Sky Brasil).

Across these services, Starz had 10.0 million subscribers as of March 31, 2023 (including OTT subscribers totaling 0.6 million in the international territories still to be exited).

The remainder of this section addresses the offerings operated by LIONSGATE+ in the UK, Ireland, Latin America and Australia.

International Strategy

STARPLAY is quickly growing its distribution by strategically positioning itself as a complementary pure-play premium content service offered at a competitive subscription price, made available through a diverse ecosystem of wholesale and retail distribution partners.

LIONSGATE+ is quickly growing its distribution by strategically positioning itself as a complementary pure-play premium content service offered at a competitive subscription price, made available through a diverse ecosystem of wholesale and retail distribution partners.

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 library of television series, feature films and documentaries from Lionsgate and other Studios, and first-run, exclusive third-party programming, including locally produced television shows that align with the STARZ brand – STARZPLAY Originals.

All content available on STARZPLAY is available with sub-titles and/or local language dubbing for each country.

LIONSGATE+ provides subscribers with access to STARZ original series, often airing day-and-date with the U.S., a rich and diverse library of television series, feature films and documentaries from Lionsgate and other studios, and first-run, exclusive third-party programming, including locally produced television shows that align with the STARZ brand – LIONSGATE+ Originals.

All content available on LIONSGATE+ is available with sub-titles and/or local language dubbing for each country.

Our distribution strategy is led with a wholesale model and supplemented through direct OTT retail sales.

We expect to launch with additional wholesale partners and potentially deploy the STARZPLAY app in additional countries in the coming years.

We expect to launch with additional wholesale and retail partners in the coming years.

Affiliation Agreements

Our services are distributed pursuant to affiliation agreements with our distributors under a wholesale license, where STARZPLAY is sold as an a la carte channel or bundled within our distributors’ platforms, including Amazon and Apple, as well as local IPTV and Telco partners.

Our wholesale distributors manage the technology and infrastructure associated with the exhibition of STARZPLAY in exchange for recurring license fees.

Our services are distributed pursuant to affiliation agreements with our distributors under a wholesale license, where LIONSGATE+ is sold as an a la carte channel or bundled within our distributors’ platforms, including Amazon and Apple, as well as local IPTV, cable, satellite and telco partners.

Our wholesale distributors manage the technology and infrastructure associated with the exhibition of LIONSGATE+ in exchange for recurring license fees.

Our affiliation agreements expire at various dates through 2026.

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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 App

To enhance our subscriber reach, we modified our domestic (U.S.) STARZ retail app for deployment internationally to include, among other new features, full European Union General Data Protection Regulation compliance, support for fourteen (14) languages, multiple audio/closed captioning options and a variety of potential carrier/billing integrations.

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 eighteen (18) countries across Europe and Latin America, including France, Germany, Spain, the UK, Netherlands, Mexico, and Brazil, Argentina, etc.;

• Is offered directly via the STARZPLAY website or via retail storefronts such as the Apple Store, Play Store, Roku Channels, LG, and Amazon Fire;

The agreements are structured on a country-by-country basis, to be multi-year agreements with staggered expiration dates across our distributors.

LIONSGATE+ App

To enhance our subscriber reach, we modified our domestic (U.S.) STARZ retail app for deployment internationally to include, among other new features, full European Union General Data Protection Regulation compliance, support for local languages, multiple audio/closed captioning options and a variety of potential carrier/billing integrations.

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

The LIONSGATE+ app:

• Is currently available in twenty-one (21) countries across Europe and Latin America, including the UK, Mexico, Brazil, and Argentina;

• Is offered directly via the LIONSGATE+ website or via retail storefronts such as the Apple Store, Play Store, Roku Channels, LG, Samsung and Amazon Fire;

• 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 £5.99 in the UK, €4.99 in Europe and ~$4.50 in Latin America.

STARZPLAY Programming

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

STARZPLAY’s currently expected fiscal 2023 first-run STARZ Originals programming, which will be available to STARZPLAY across its footprint in Canada, Western Europe, Latin America and Japan, is as follows:

Gaslit Season 1

Becoming Elizabeth Season 1

• Is available for purchase as a standalone OTT service for a recurring monthly fee.

LIONSGATE+ Programming

LIONSGATE+ programming is driven by the slate of STARZ Original Series and is supplemented with high-quality, bold premium original series that have proven success in the U.S.

on other platforms such as “Dr.

Death” and “The Great.” Additionally, LIONSGATE+ delivers local language scripted original series to its audiences in Latin America including Brazil.

LIONSGATE+’s fiscal 2023 first-run original programming included:

Tokyo Vice Season 1

P-Valley Season 2

The Girl from Plainville (limited series)

Power Book III:

Raising Kanan Season 2

Dangerous Liaisons Season 1

Serpent Queen Season 1

BMF Documentary:

Blowing Money Fast

Step Up Season 3

Party Down Season 3

Power Book II:

Ghost Season 3

Total Episodes:

STARZPLAY’s currently expected fiscal 2023 first-run third-party programming and country availability is as follows:

Title Countries Available Distributor

Tokyo Vice Season 1

UK, Germany ("DE") Endeavor

The Girl from Plainville All markets ex.

Canada ("CA") NBCU

Sisi Season 1

Latin America ("LatAm") Betafilm

Evil by Design UK, DE, LatAm, Spain ("ES") Blue Ant

Das Boot Season 3

France ("FR"), LatAm NBCU

Faking Hitler ES, Nordics Fremantle

Euer Ehren Nordics SquareOne

Ramy Season 3

All markets ex.

LatAm, Nordics Lionsgate

Queer as Folk Season 1

All markets ex.

Japan ("JP"), CA NBCU

Doom Patrol Season 4

The Capture Season 2

DE, FR, Benelux, LatAm, Italy ("IT"), ES NBCU

Gangs of London Season 2

FR, Benelux, LatAm, ES, JP Pulse

The Head Season 2

UK, DE MediaPro

Pennyworth Season 3

UK, DE, IT WB

The Great Season 3

All markets ex.

JP, Nordics, CA Paramount

Total Episodes:

STARZPLAY’s currently expected fiscal 2023 first-run STARZPLAY Originals programming and country availability is as follows:

Title Countries Available Distributor

El Refugio Season 1

LatAm, ES Fremantle

Toda la Sangre Season 1

All Those Things We Never Said All markets ex.

FR, JP, Nordics StudioCanal

Nacho Season 1

LatAm, ES Bambu

Yellow LatAm, ES The Immigrant

Total Episodes:

STARZPLAY’s fiscal 2022 first-run STARZ Originals programming was as follows:

Confronting a Serial Killer Season 1

The Girlfriend Experience Season 3

Run the World Season 1

Blindspotting Season 1

Power Book III:

Raising Kanan Season 1

Heels Season 1

Hightown Season 2

Express Season 2

Power Book II:

Ghost Season 3

Power Book IV:

Force Season 1

Shining Vale Season 1

Total Episodes:

STARZPLAY’s fiscal 2022 first-run STARZPLAY Originals programming and country availability was as follows:

Title Countries Available Distributor

Mala Yerba LatAm, ES Sony

Express Season 1

LatAm, ES, FR, IT MediaPro

Senorita ’89 Season 1

LatAm, ES Fremantle

Total Episodes:

STARZPLAY’s fiscal 2022 first-run third-party programming and country availability was as follows:

Title Countries Available Distributor

Godfather of Harlem Season 2

UK, FR Disney

It’s A Sin DE, IT All3Media

Love Life Season 1

Death Season 1

All markets ex.

Gigantes Season 1

Brazil About Premium Content

Gigantes Season 2

Brazil About Premium Content

The Undoctored Story UK, FR, Benelux, LatAm, ES NBCU

Une Affaire Francaise DE, ES Federation

Vigil Season 1

Doom Patrol Season 3

The Great Season 2

All markets ex.

JP, CA Paramount

Station Eleven UK, DE Paramount

Baptiste Season 2

DE, FR, LatAm All3Media

Outlander Season 6

Love Life Season 2

Killing Eve Season 4

Total Episodes:

Significant multi-country library programming agreements include those with Studio Canal, Tele München Group, Sony, Universal and Lionsgate.

Nacho Season 1

Significant multi-country library programming agreements include those with Paramount, Sony, Universal and Lionsgate.

Regulatory Matters

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jurisdictions could be impacted.

There may be further material changes in the law and regulatory requirements.

There may be further material changes in the law and regulatory requirements in the future.

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.

(For a list of certain of our equity method investees and redeemable noncontrolling interests, See Note 5 and Note 11 to our Audited Consolidated Financial Statements).

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 returns, represent an optimal use of our capital, and are aligned with our goals.

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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.

Our more significant joint ventures, partnerships and ownership interests include the following:

3 Arts Entertainment We hold a majority interest in 3 Arts Entertainment, a leading talent management and television/film production company.

Pilgrim Media Group We hold a majority interest in Pilgrim Media Group, a leader in unscripted programming.

Roadside Attractions We hold an interest in Roadside Attractions, an independent theatrical distribution company.

Intellectual Property

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Human Capital Management

As of May 20, 2022, we had 1,448 full-time employees in our worldwide operations.

As of May 23, 2023, we had approximately 1,500 full-time employees in our worldwide operations.

We also utilize many consultants in the ordinary course of our business and hire additional employees on a project-by-project basis in connection with the production of our motion pictures and television programming.

Diversity Equity & Inclusion

Diversity, Equity and Inclusion

We believe that embracing diversity, promoting a culture of inclusivity and accelerating the representation of women and historically excluded groups in our workforce is crucial to our success.

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• Internship Programs:

We maintain an internship program designed to increase inclusion across the entertainment industry by placing qualifying students in positions at Lionsgate and various other studios.

We maintain an internship program designed to increase inclusion across the entertainment industry.

• Targeted Recruitment:

We continue recruitment efforts that include collaborating with diverse partner organizations, college campus diversity organizations for underrepresented groups, as well as historically black colleges in our search for new employees and interns.

We maintain recruitment efforts that include collaborating with diverse partner organizations, college campus diversity organizations for underrepresented groups, as well as historically black colleges in our search for new employees and interns.

• Inclusive Hiring Process:

We implement inclusive hiring practices to ensure that we are attracting the best talent in the industry through a more equitable, inclusive, and accessible approach.

We implement inclusive hiring practices to ensure that we are attracting the best talent in the industry through an equitable, inclusive, and accessible approach.

Key components of the framework

include bias free job descriptions, inclusive hiring training, external diversity partners, diverse candidate slates, and diverse, cross-functional interview panels.

• Supplier Diversity Program:

The mission of our Supplier Diversity Program is to actively establish relationships with diverse businesses and to continuously strive to increase spend with diverse suppliers, while delivering more competitive pricing, quality, service, innovation and creativity in procurement of services.

We believe that this initiative increases the breadth of our vendor pool, while also encouraging the growth of diverse businesses.

• Supplier Diversity and Inclusion Program:

The mission of our Supplier Diversity and Inclusion Program is to actively establish relationships with diverse businesses and to continuously strive to increase spend with diverse suppliers, while delivering more competitive pricing, quality, service, innovation and creativity in procurement of services.

We believe that this initiative increases the breadth of our vendor pool, while creating greater economic opportunity for diverse suppliers.

Where applicable, our Code of Business Conduct and Ethics, governs conduct with, and applies to, our suppliers, vendors, contractors and agents.

Employee Resource Groups

We are proud to provide our employees with an array of Employee Resource Groups (“ERGs”) which offer them the chance to establish a greater presence at Lionsgate and an opportunity to enhance cross-cultural awareness, develop leadership skills and network across the Company’s various business units and levels.

We provide our employees with an array of Employee Resource Groups (“ERGs”) which offer them the chance to establish a greater presence at Lionsgate and an opportunity to enhance cross-cultural awareness, develop leadership skills and network across the Company’s various business units and levels.

The ERGs are voluntary, employee-led groups that foster a diverse, engaging, and inclusive workplace.

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• Lionsgate Multicultural Employee Resource Group advocates for a more inclusive workplace and entertainment landscape through programs that educate, activate and celebrate multicultural diversity and its global impact.

• Lionsgate Parents Group aims to bring together parents, expecting parents, caregivers, and allies to ensure our community fosters an environment that supports all families.

This consists of resource groups for the Asian American Pacific Islander community, the Black community and the Latine community.

• Lionsgate Parents and Caregivers Group aims to bring together parents, expecting parents, caregivers, and allies to ensure our community fosters an environment that supports all families.

• Lionsgate Pride supports, develops and inspires future LGBTQIA leaders within the Company and the industry.

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• Lionsgate Women’s Empowerment Group creates a community that improves the prominence of female leaders and empowers women at all levels within the Company and the industry.

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.

Community Involvement

We are committed to acting responsibly and making a positive difference in the local and global community through Lionshares , our volunteer program that seeks to provide opportunities for employees to partner with a diverse range of charitable organizations.

We maintain a Corporate Sponsorship Committee that prioritizes corporate philanthropic initiatives throughout Lionsgate, focusing particularly on organizations and activities related to diversity and poverty in order to increase our impact and to develop meaningful relationships with a core group of organizations and events.

Other Employee Benefits and Programs

We understand the importance of well-rounded and inclusive benefits and programs and are dedicated to providing our employees with unique offerings that meet their individual needs.

With respect to benefits, we offer a comprehensive benefits package which includes family forming benefits, mental health support, resources for caregiving (children and adult family), online fitness and meditation classes, and new parent coaching.

With respect to learning and engagement, we offer programs to develop and enrich the employee experience with offerings such as tuition reimbursement, leadership development program, mentorship, and additional programs to help support specific populations (e.g., minorities, women, parents, LGBTQ+) such as frequently hosting internal forums and expert panels in order to foster meaningful conversations and highlight diverse voices at Lionsgate and in the industry.

We received the designation as a “Best Place to Work for LGBTQ Equality” for 2022.

We offer a comprehensive benefits package which includes health, dental and vision insurance, family forming benefits, mental health support, resources for caregiving (children and adult family), online fitness and meditation classes, and new parent coaching.

We offer programs to develop and enrich the employee experience with offerings such as tuition reimbursement, leadership development programs, mentorship, and additional programs to help support specific populations (e.g., minorities, women, parents, LGBTQIA).

We conduct annual employee training on anti-harassment, information technology security, the Foreign Corrupt Practices Act, as well as manager, diversity, equity and inclusion trainings.

We also provide training and development to all employees, focusing on career development, professional development and industry knowledge.

Corporate, Environmental and Social Responsibility

We protect our social, financial, informational, environmental, and reputational assets and make it a priority to operate our business in a responsible and sustainable manner.

Engaging in such responsibility not only helps us manage risks and maximize opportunities, but also helps us understand and manage our social, environmental, and economic impact that enables us to contribute to society’s wider goal of sustainable development.

This includes, but is not limited to, conducting business in a socially responsible and ethical manner, supporting human rights, and committing to environmental sustainability.

In all our offices, we prioritize efforts to prevent pollution, and to conserve, recover, and recycle materials, water and energy wherever possible.

Our productions distribute documents electronically to minimize paper consumption and waste and

limit the use of single-use plastics.

Our productions follow best practices featured in the Producers Guild of America and Sustainable Production Alliance’s Green Production Guide, which are designed to reduce the film, television, and streaming industry’s carbon footprint and environmental impact.

productions encourage the employment of green vendors that provide sustainable goods and services for film, television and streaming productions.

We also prioritize vendors whose dedication to operating business in a responsible and sustainable manner directly aligns with those of Lionsgate.

Vantiva, our U.S.

and Canadian vendor for manufacturing and assembly of DVDs/Blu-rays:

ensures that all of its products comply with all consumer safety regulations in each country where marketed, including compliance with use of hazardous substances within products and systems, and end-of-life handling of electrical and electronic equipment waste;

supports product life cycle assessments assessing core product designs, reducing single-use plastics and packaging and decreasing carbon emissions due to transportation;

and prohibits the use of child labor, forced labor, human trafficking and modern slavery in its supply chain.

Wynalda, our vendor for wraps, inserts and other special home entertainment packaging:

maintains a ride sharing method of delivery for all of packaging goods, significant reducing shipping carbon footprint for delivery of such goods;

uses recycled or reclaimed materials for all trim from print and cut manufacturing;

and conducts periodic ethical trade audits to address sustainability as well as ethical treatment of people while minimizing their environmental impact.

Max Solutions, our vendor for non-standardized home entertainment packaging:

sources all materials from forest stewardship certified mills;

partners with companies that use plant-based, eco-friendly, compostable, and biodegradable alternative to plastic packaging;

and uses carbon-neutral presses designed to the highest levels of energy efficiency to drastically reduce emissions, scrap and process waste.

Corporate History

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Available Information

Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy statements and amendments to those reports filed or furnished pursuant to Sections 13(a) and 15(d) of the Exchange Act, are available, free of charge, on our website at investors.lionsgate.com as soon as reasonably practicable after we electronically file such material

with, or furnish it to, the Securities and Exchange Commission (the “SEC”).

The Company's Disclosure Policy, Corporate Governance Guidelines, Standards for Director Independence, Code of Business Conduct and Ethics for Directors, Officers and Employees, Policy on Shareholder Communications, Related Person Transaction Policy, Charter of the Audit & Risk Committee, Charter of the Compensation Committee and Charter of the Nominating and Corporate Governance Committee and any amendments thereto are also available on the Company's website, as well as in print to any shareholder who requests them.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business