‘Michael’ Crosses $1 Billion at the Box Office as Lionsgate Roars Back
The New York Times • • entertainment
Key Points:
- Lionsgate, once struggling with a significant decline in box office revenue and low stock prices, has reversed its fortunes by producing successful films in 2024.
- The studio's biopic "Michael" surpassed $1 billion globally, marking Lionsgate's first film to reach this milestone despite initial industry skepticism due to the subject's controversies.
- Another hit, "The Housemaid," earned $400.5 million on a $35 million budget, prompting Lionsgate to plan sequels for both films, a rare achievement among studios this year.
- Lionsgate's upcoming slate includes a "Hunger Games" sequel, a "Rambo" prequel, additional "John Wick" movies, and sequels to "The Passion of the Christ," along with collaborations to revive popular horror franchises.
- These successes have positioned Lionsgate as a competitive independent studio with multiple new franchises, defying expectations that it would be acquired by larger Hollywood companies.
