Lionsgate Acquires Majority of Spyglass Media Group’s Film Library
The acquisitions continue as Lionsgate, parent company of STARZ, has reportedly acquired the majority of Spyglass Media Group’s film library.
Spyglass’ catalog is around 200 titles deep. While the company name itself may not be as front-of-mind as Lionsgate, their roster includes a sampling of popular, evergreen franchises like the upcoming new entry into the “Scream” series, scheduled for a January 14, 2022 release. In keeping with Lionsgate’s reputation for films that delve into supernatural horror, Spyglass also has ownership of the revival of the “Hellraiser” franchise with a new title currently in pre-production.
It’s not all Pinheads and plastic masks though, as Spyglass films like 2019’s “The Upside” and the popular fashion competition show “Project Runway” will serve to further diversify Lionsgate’s offerings.
Other noteworthy titles include “The King's Speech,” “Spy Kids: All The Time in the World,” “Silver Linings Playbook,” “The Butler,” and Tarantino films like “Django Unchained,” “The Hateful Eight,” and “Inglorious Basterds.”
In addition to the films, the deal also includes a multi-year first-look arrangement with Lionsgate Television.
The agreement will see Spyglass’ senior team as well as Gary Barber, former MGM Studio boss and current Spyglass Chairman/CEO, maintain their respective leadership positions.
Lionsgate’s library already generates the company a lot of cash. Its most recent fiscal year pulled in over $700 million through various distribution channels that cover the gamut from retail media to streaming content.
STARZ offers a subscription video streaming service that gives access to content on the STARZ channel without the need of a cable subscription. With your subscription, you’ll get access to 7,500+ films and episodes, including all of their current originals like “Outlander,” The Serpent Queen,” “BMF,” and “Power.”
The service also offers a large rotating library of older films like “Die Hard, The Big Lebowski, Fargo, 12 Monkeys,” and “A Beautiful Mind.”
You can subscribe for $8.99 a month either directly from STARZ, or through Amazon Prime Video Channels, Apple TV Channels, or Roku Premium Subscriptions.
STARZ is also no slouch. The streaming platform has been a hit both domestically and internationally thanks to providing viewers with top-notch, high-demand original programming like “Outlander” and “Blindspotting.”
Jeffrey Hirsch, STARZ President and Chief Executive Officer, feels that the platform's tremendous growth is due in part to STARZ maintaining a focus on diverse perspectives.
“These results reinforce STARZ’s proven ability to bring audiences high-quality premium programming, which we believe is key to success over raw scale,” Hirsch said. “With our most robust slate ever, STARZ is continuing to deliver exceptional premium programming focused on amplifying narratives by, about, and for women and underrepresented audiences.”
STARZ has also just made a deal with Universal to bring the studio’s fresh content to the platform beginning in 2022.
Lionsgate CEO Jon Feltheimer is clearly gushing over the implications of bolstering the company’s catalog with Spyglass’ additional titles.
“This agreement continues to grow our valuable portfolio of IP while partnering us with Gary Barber, one of the leading entrepreneurs and content creators in the business,” he said. “It is a win/win deal that creates significant incremental value for both companies while continuing to add to our global content distribution platform at a time when the demand for premium content is greater than ever.”
While Lionsgate’s move to snap up Spyglass’ library may not be as earth-shattering as the merger of Discovery and Warner Bros., or as politically provocative as Amazon's recent purchase of MGM, it nonetheless continues the trend of consolidation among major media corporations.