Lionsgate is a standalone content studio that produces and distributes films and television shows. Following its separation from Starz in May 2025, Lionsgate operates as a pure-play production and distribution business. The company creates, acquires, and licenses content across two segments: Motion Picture and Television Production. The Motion Picture segment manages the lifecycle of films through sequential distribution windows, including theatrical release, home entertainment, and television licensing. The Television Production segment develops scripted and unscripted series for broadcast, cable, and streaming platforms, and includes 3 Arts Entertainment, a talent management firm. Lionsgate's business model centers on a library of over 20,000 titles, which generates recurring revenue from streaming services, networks, and international distributors. To manage financial risk in film production, Lionsgate pre-sells international rights and utilizes co-financing and tax credits. In television, Lionsgate often uses deficit financing, where it spends more on production than initial license fees to retain long-term distribution rights. The company's strategy focuses on expanding franchises like Hunger Games and John Wick into sequels, spinoffs, and location-based entertainment. Lionsgate also operates 52 FAST channels to monetize content directly when third-party licensing deals are not in place.