Lionsgate earns $1 Billion at US Box Office for second year running

Summit’s Lionsgate announced on 23rd December that for the second year running, they have earned $1 billion at the US box office, and over $1 at the international box office.

Lionsgate grossed an estimated $1.025 billion at the domestic box office and $1.227 billion at the international box office over 2013, making them one of the five highest grossing US film studios this year.

A surprise hit for Summit includes the film Now You See Me, about a group of magicians and staring Jesse Eisenberg and Mark Ruffalo, which grossed $352 million worldwide.

A big boost in Lionsgate’s earnings can be seen in the worldwide success of The Hunger Games. The four part film series is based on the book trilogy by Suzanne Collins. Starring Jennifer Lawrence as Katniss Everdeen, the second film in the series, The Hunger Games: Catching Fire has grossed approximately $327 million domestically and $393 internationally. In its first five weeks of release, it has outperformed the worldwide box office of the first film, The Hunger Games, which earned $691 million.

Lionsgate released six films in China in 2013, grossing an estimated $116.3 million total at the Chinese box office, making this Lionsgate best performing year in China.

In regards to underperforming films, Lionsgate are quick to explain that the budget for these films is limited and the risk is minimized. Lionsgate CEO Jon Feltheimer and Vice Chairman Michael Burns issued a joint statement, in which they said; “We continue to do more with less, maintaining our commitment to a disciplined financial model that is focused on limiting production capital at risk.”

With The Hunger Games: Mockingjay – Part 1 to be released on 21st November 2014 and The Hunger Games: Mockingjay – Part 2 to be released on 20th November 2015 in the US, it seems that Lionsgate’s profits can only continue to increase.

Read the article at focusfilm.co.uk

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About writingsuzanne

History graduate. Freelance writer and reviewer. Passionate about film, theatre and music (film soundtracks!).
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