Will Lionsgate Recover From Their Rough 2024?

2024 has been an awful year for Lionsgate with releases like The Crow and Megalopolis and there doesn’t seem to be an end in sight.

Imaginary. Borderlands. The Crow. Megalopolis. 2024 has been a colossally bad year for Lionsgate Films. Whether it’s critical ratings or box office take, there’s not a lot to be optimistic about if you’re a fan or shareholder. This is too bad as Lionsgate has always been the studio I’ve always rooted for. As distributors of the Saw, John Wick, and Rambo they’ve always had an edge to them, giving smaller films a chance to reach larger audiences. And franchises like Twilight (purchased from Summit), Divergent, and Hunger Games showed their ability to make/acquire broadly appealing films. Then they’ve even gotten into the Oscar space with releases like La La Land, Knives Out, and Sicario. But it’s getting to the point where I groan every time the Lionsgate logo comes up as it’s no longer a sign of quality or fun.

It’s hard not to blame Lionsgate at least a little bit for this. Borderlands, The Crow, and Megalopolis were largely considered to be bad ideas from the start. Another adaptation of the graphic novel which hasn’t had a good film since the original? A film based on a video game completely miscast and coming from a horror director? And finally, a passion project from a once great filmmaker who hasn’t made a good movie in 32 years? Each of these was a clear failure and largely made fun of when announced. So the fact that they threw so much cash at them is baffling. The Crow was always going to be a tough sell, and to be sure, Lionsgate is only the distributor, not the producer (same with Megalopolis). But it still begs the question as to why they would acquire a film with such a low upside. Another head-scratcher is the release of White Bird this weekend, which is a prequel/sequel to their 2017 hit Wonder. That movie sat on the shelf for a few years (despite perfectly respectable reviews), but was released in a very low-key way for a film related to one of their biggest word-of-mouth hits.

While Lionsgate is not a major studio, they are still considered a mini-major where they mostly focus on foreign and independent films. Much like the Saw franchise which was made for cheap but made a boatload of cash for the studio, Lionsgate was able to make massive profit off of it. Yet even their low-budget fare has been uninspiring. Damaged, Miller’s Girl, Arthur the King, and The Duel prove we’re far removed from the days of high-quality acquisitions. Hell, the one time they had a great indie horror film in Cobweb, they decided to release it to damn near zero promotion on the same day as Barbenheimer.

We also need to discuss their strange release strategy. The Ministry of Ungentlemanly Warfare, Arthur the King, and The Killer’s Game only came out in the United States (skipping Canada entirely) and resulted in a tepid box office. While I enjoyed Ungentlemanly Warfare, releasing in this way says to audiences that the films aren’t worth an entire release/marketing strategy. Sure, it costs a lot of money to market a film, but why even make/acquire the film in the first place if you’re not even going to give it a chance to fully optimize its chances to profit?

I know I’m pretty much the only person on the planet who enjoyed the ridiculousness of The Strangers: Chapter 1 but it’s clear based on others’ reactions, that its sequels have a tough hill to climb. While the first film did well, that could likely be attributed to fans of the original wanting to check it out. But after the terrible word of mouth, it’s going to be a lot more difficult to get people in seats. This is likely why we haven’t seen anything from Chapter 2 despite Chapter 1 releasing back in May. Not even a trailer. And with the trilogy filming back to back, you have to figure the sequels are near completion, editing-wise. So will the trilogy complete its story in theaters, or will it be relegated to streaming services for the rest of its run? The more Lionsgate needs a win, it seems the less likely it is to happen.

As far as big releases to save the year, Lionsgate doesn’t have much of anything left. With a small Cillian Murphy drama and The Best Christmas Pageant Ever, the chances of recovering their losses don’t seem great. But 2025 should be a little better with the return of the Saw franchise with XI, the John Wick spinoff Ballerina, and the popular magic series Now You See Me 3. But then again, they are producing a Dirty Dancing sequel so I’m not sure if they’ve learned their lesson yet. Especially with the rumors that much of Ballerina had to be reshot, as the original cut was such a mess. Whatever happens, Lionsgate is in need of some major changes going forward as the studio has become a shell of its former self. Hopefully, they take inspiration from other mini-majors like A24 and start focusing on quality and creativity. But who knows, maybe some Lionsgate exec just got a great idea for The Crow 2. *shudders*

What do you think? Will Lionsgate ever recover? What is the solution? Let us know in the comments below!