Lionsgate CFO Jimmy Barge said the company will see little to no financial impact from a three-month WGA strike – about how long the guild’s last work stoppage lasted — and that it hasn…
, said on the call that Starz hasn’t ever raised prices before in seven years of direct-to-consumer streaming.
“In that time, some of our peers have done one and sometimes two rate increases,” he said. “So, we feel pretty good that by increasing our slate from six to 11 originals, plus all the great movies from Lionsgate and Universal, and still at $10, it’s still a great value for the consumer.” In the near term, the hike could put “some pressure” on subscriber numbers, but ultimately “it’s a positive,” he said.by the end of the September quarter. This has been a prolonged process, designed to unlock value for the studio and the streamer. It would give both the studio and Starz separate public market valuations and stock to use as currency — and make both easier acquisition targets.
Lionsate filed plans for the split with the SEC in March. “We’re working through the organizational and governance issues accompanying the separation, finalizing the intercompany agreement, and taking the appropriate steps to strengthen both companies and their respective balance sheets so they will be prepared to unlock the incremental value that the separation makes possible,” said CEO Jon Feltheimer.
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