In a year where many studios have struggled in their theatrical releases, no studio has had more difficulties than Lionsgate. Lionsgate has been suffering through a brutal losing streak, with the biggest disappointment being BORDERLANDS. CEO Jon Feltheimer acknowledged as much during his company’s Q3 earnings call with investors, saying that “nearly everything that could go wrong [with that release] did go wrong.”
Based on a very popular video game franchise, the film adaptation of BORDERLANDS was widely panned by critics and audiences, grossing only $32 million worldwide after $115 million was spent on its production. In fact, this one release was the cause of profits from Lionsgate’s film division falling to $2.6 million compared with $67.5 million in the third quarter of 2023.
These recent struggles stand in stark contrast to Lionsgate’s typical success in managing its film properties. Lionsgate has been known for keeping its production budgets in check, so as to minimize the risk of potential losses if a film underperforms. The studio has a record of success with most recent faith-based and horror titles, while it has built up franchises including HUNGER GAMES, JOHN WICK and SAW. Executives asked investors to look past this year’s struggles and focus on brighter days ahead, especially next year’s releases of the John Wick spinoff BALLERINA on June 6, 2025 and SAW XI on September 26, 2025.