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- Lionsgate Has Had 13 Flops or Underperformances in 2024
- What Does This Mean for Lionsgate?
As a seasoned film industry analyst with over two decades of experience under my belt, I must say that the current financial state of Lionsgate is a tale as old as time – a classic case of feast or famine. Having witnessed the rollercoaster ride that studios often go through, I can see that Lionsgate is in a precarious position right now, but there’s hope on the horizon.
2024 hasn’t been kind to Lionsgate, the studio I adore for its epic franchises like John Wick, The Hunger Games, and Saw. Despite other studios grappling with the post-COVID box office landscape, this year has proved particularly challenging for Lionsgate. Their box office performance this year is unlike anything we’ve seen from them before, and it’s had a significant impact on their earnings.
Movie lore often recounts instances where studios suffer financial collapse following a single unsuccessful film. For example, Franchise Pictures was doomed by Battlefield Earth, New Line Cinema struggled after The Golden Compass, and even the cherished Christmas movie It’s a Wonderful Life led to Liberty Films being absorbed by Paramount Pictures. However, what occurs when a studio experiences 13 financial flops in a single year? If you’ve interacted with online film enthusiast communities for more than five minutes, you’re likely aware of the poor box office performance and early withdrawals of films like Megalopolis, The Crow, and Borderlands from theaters. Regrettably, this is only the beginning of Lionsgate’s struggles.
Lionsgate Has Had 13 Flops or Underperformances in 2024
2024 saw Lionsgate facing a challenging climb, as their film Miller’s Girl, featuring Martin Freeman and Jenna Ortega, struggled to recoup half of its $4 million production cost, earning less than $2 million at the box office. This setback was the first in a series of troubles for the studio, as throughout the first half of 2024, films like Imaginary, Arthur the King, The Ministry of Ungentlemanly Warfare, Unsung Hero, and Ordinary Angels all fell short of expectations at the box office, despite some being profitable. Notably, The Ministry of Ungentlemanly Warfare (directed by Guy Ritchie, starring Henry Cavill and Alan Ritchson) had a larger budget compared to the others.
2024’s second half proved particularly challenging for Lionsgate. Contrary to their expectations, the movies they had planned as their big-budget blockbusters underperformed significantly, even when compared to their horror and independent films. Sadly, films like “Borderlands,” “The Crow,” and “Megalopolis” all struggled at the box office. To add insult to injury, “1992,” “The Killer’s Game,” and “Never Let Go” also failed to meet expectations. In essence, as put by Joe Exotic, Lionsgate may find it difficult to financially recover from these poor performances.
It may come as a surprise that Lionsgate’s top-earning film of 2024, thus far, is the horror movie The Strangers: Chapter 1, which has received mixed reviews. This film, directed by Renny Harlin and featuring Madelaine Petsch, has garnered a worldwide gross of $47.8 million. In terms of broader comparison, this means that none of Lionsgate’s 2024 releases have surpassed the $50 million mark at the international box office.
What Does This Mean for Lionsgate?
Is Lionsgate facing difficulties, you might ask? The answer is somewhat complex. In the film industry, Lionsgate is classified as a “mini-major studio.” This means it’s not quite on the same financial level as giants like Disney or Warner Bros., but it’s also not in the same boat as small, independent studios who often struggle for funding. So while it may face challenges, it’s not exactly struggling to make ends meet either.
| Lionsgate’s 2024 Box Office | ||
|---|---|---|
| Title: | Budget: | Box Office Haul (Worldwide): |
| Miller’s Girl | $4,000,000 | $1,714,512 |
| Ordinary Angels | $13,000,000 | $20,571,534 |
| Imaginary | $13,000,000 | $43,781,680 |
| Arthur the King | $19,000,000 | $40,829,349 |
| The Ministry of Ungentlemanly Warfare | $60,000,000 | $26,974,933 |
| Unsung Hero | $6,000,000 | $21,222,038 |
| The Strangers: Chapter 1 | $8,500,000 | $47,803,285 |
| Borderlands | $120,000,000 | $32,978,510 |
| The Crow | $50,000,000 | $23,799,336 |
| Megalopolis | $136,000,000 (Lionsgate only covered distribution fees) | $11,147,389 (ongoing) |
| The Killer’s Game | $30,000,000 | $5,931,154 |
| Never Let Go | $20,000,000 | $21,750,508 |
| 1992 | $8,500,000 | $2,906,073 |
Due to the substantial earnings from its blockbuster films in 2023, such as “Saw X”, “John Wick: Chapter 4”, and “The Hunger Games: The Ballad of Songbirds and Snakes”, the studio has accumulated a significant financial burden for future security. Last year’s releases have been quite profitable, but with investments in big-budget productions like “The Crow” and “Borderlands”, this financial cushion could deplete rapidly.
To ensure Lionsgate’s continuity beyond its challenging 2024, it’s crucial for them to maintain their position until the following year. The prospects for 2025 look more promising as Lionsgate aims to recover the poor box office performance of this year, primarily through their major franchises. Among these, the highly anticipated Michael Jackson biopic titled Michael, as well as From the World of John Wick: Ballerina (a shorter title may be preferable), Saw XI, and Now You See Me 3 are scheduled for release next year.
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2024-10-19 05:31