Lionsgate faces Box Office crisis: Six consecutive films fail to break $50 million

This string of box office failures has led to a 34% drop in parent company shares in 2024.

Lionsgate has hit a rough patch at the box office, with its last six releases grossing under $50 million domestically. Starting in August with Eli Roth’s much-anticipated but critically panned video game adaptation Borderlands, the studio's subsequent films, including The Killer’s Game, Never Let Go, The Crow, Megalopolis, and the latest release White Bird, have all failed to perform.

White Bird, a sequel to the 2017 hit Wonder, grossed just $1.58 million in over 1,000 theaters, falling short even against indie competitors like Sam and Colby: The Legends of the Paranormal, which managed to gross $1.77 million in fewer theaters. This performance underscores the struggles the studio faces as its recent box office efforts fail to resonate with critics or audiences.

Financially, the studio reported a net loss of $44.4 million in the quarter ending June 30, 2024, following its spin-off from its parent company, Lions Gate Entertainment. The parent company, which still holds an 87% stake in Lionsgate Studios, has seen a 34% drop in shares this year amid these struggles.

The company is also facing challenges ahead with its John Wick spinoff, Ballerina, which has reportedly undergone extensive reshoots. As the losing streak continues, industry experts suggest that the studio needs a major hit soon to stabilize its financial outlook.