Lions Gate: 'Hunger Games' Makes Strong DVD, Digital Debut
Aug 21, 2012 08:33:49 (ET)
By Tess Stynes
Lions Gate Entertainment Corp. (LGF) said its box-office hit "The Hunger Games" generated record home entertainment segment sales during the blockbuster's first weekend of DVD and on-demandsales.
The company said it sold roughly 3.8 millionDVD and Blu-ray units during the period, with more than a third of the sale in the higher-margin Blu-ray format.
Lions Gate also said the digital and on-demand rollout set record first-day sales on Microsoft Corp.'s (MSFT) Xbox, record Lions Gate revenue on Apple Inc.'s (AAPL) iTunes and the highest first-day transactions on cable and television network operator Comcast Corp. (CMCSA, CMCSK) in the past four years.
Lions Gate has been edging its way into the ranks of Hollywood's more powerful studios with the box-office success of "The Hunger Games" and its acquisition earlier this year of independent studio Summit Entertainment LLC, which gives it control of the "Twilight" series.
However, the company recently reported that it swung to afiscal first-quarter loss as strong revenue from "The Hunger Games" and "Cabin In the Woods" was again outpaced by heavy expenses, due in part to the costs of marketing five releases, compared with one release in the prior-year quarter.
At the time Lions Gate said the bulk of earnings from "The Hunger Games" would come in future quarters amid non-box-office revenue streams such as licenses for television and international markets.
Meanwhile, Amazon.com Inc. (AMZN) said last week the Hunger Games trilogy has outsold the Harry Potter series on Amazon.com, making Suzanne Collins's work the online retailer's best-selling book series of all time, including print and Kindle book sales.
Lions Gate shares closed Monday at $13.88 and were inactive premarket. The stock is up nearly 67%this year.
News 
Market Data 
Discover 
AI
