The Lionsgate+ adventure will finally end very quickly in France. The studio in charge of the former Starzplay has decided to leave several markets including France.
Immediately arrived, immediately left. 35 days after Starzplay’s name change to Lionsgate+ in around thirty countries including France, the SVOD platform is finally withdrawing from the French market and will also disappear in Germany, Italy, Spain, Benelux and the Nordic countries and Japan.
An announcement came as Lionsgate, owner of the service, published its financial results for the third quarter of 2022 recording an operating loss of 53.7 million dollars caused by this rebranding operation. While the company is preparing to spend 1.7 billion dollars in costs for a restructuring by considering in particular to separate the activities of the cinema studio from the other branches of the group.
The platform will continue with Starz (the channel owned by the group) internationally, particularly in the United Kingdom, Latin America and Canada, and had 27.3 million subscribers on September 31. Jon Feltheimer, CEO of Lionsgate explains to investors that the costs incurred by the rebranding “are an acknowledgment of current market conditions and the challenges of our environment. But they also represent an opportunity to stabilize our Starz business, reset expectations” and increase earnings before depreciation and amortization (OIBDA).
The offer was notably marketed in France within certain Canal+ offers, but also offered to Amazon Prime subscribers in the Amazon Channels service package. By focusing on the territories where Starz is already established, the leader of the group intends to allow a “clear path to profitability” for Lionsgate’s international business. A clear date for the end of the service has not yet been announced.
Source: Hollywood Reporter
This article was taken from the Univers FreeBox website