Lions Gate Entertainment Corp.LGF , producer and distributor of motion pictures for theatrical and straight-to-video release, seems to be gaining ground on the back of its strategic endeavors.
In the latest development, Lionsgate teamed up with comic book publisher Double Take (2T) for the big screen version of graphic novel Z-Men. Launched quite recently, Z -Men is based on the classic horror movie Night of the Living Dead. Lionsgate appears positive about the film adaptation of Z-Men and feels that it would intrigue both moviegoers and comic book fans.
Lionsgate, which shares space with major studios like Twenty-First Century Fox, Inc. FOX , News Corporation NWSA and DreamWorks Animation SKG Inc. DWA , has been trying to diversify its product portfolio and hence, pursuing different agreements. The company has entered into an agreement with China's leading online video platform iQIYI to stream its own and third-party feature films. Under the deal, Lionsgate will not only provide video on demand (SVOD) but also provide transactional video on demand (TVOD) to iQIYI.
Earlier, the company had extended its domestic distribution deal with Miramax and entered into an agreement with Millennium Films and Hong Kong-based mobile game developer and publisher Fifth Journey to launch The Expendables themed mobile game. Lionsgate also collaborated with Tribeca Enterprises to introduce a subscription video on demand service to cater to the fast growing online viewership. Moreover, the company entered the game arena by making a major investment in Telltale Games, one of the leading game developers and publishers.
Apart from this, the company has made some positive moves recently, which include expanding its Television segment and online presence. Although the company's performance in the last quarter was disappointing, Lionsgate's effort to diversify its business is a good sign for investors.
We believe that these growth strategies will help the company to drive its top line in the long run.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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