Lionsgate has hit a major milestone in its John Wick franchise, which has grossed over $1 billion globally. The series, which stars Keanu Reeves, follows the story of a retired hitman avenging the murder of his dog and has become a rare example of a franchise where each subsequent film has generated significantly more box office returns than the last. The latest installment, John Wick: Chapter 4, has already grossed $425 million and counting with an estimated budget of $100 million. The franchise has also set up a miniseries called The Continental: From the World of John Wick, which tells the story of Winston Scott’s ownership and operation of The Continental hotel, a safe haven for assassins. The show will air later this year on NBCUniversal's Peacock streaming service. Lionsgate is also set to launch a spinoff called Ballerina, starring Ana de Armas.
Despite being overshadowed by larger peers like Warner Bros. Discovery, Disney, Amazon, and NBCUniversal, Lionsgate's stock has surged this year. The company reported earnings in February that beat expectations. Lionsgate has been exploring its options for the two key parts of its business, its film studio and Starz cable and streaming unit. The company had previously held talks to sell a 20% stake in Starz and engaged in talks with multiple potential buyers for its studio business. Lionsgate executives said during the February earnings call that the company was on track to separate Lionsgate and Starz by September. The separation will give the two core businesses the opportunity to pursue strategic and financial paths that make sense for each of them, according to CEO Jon Feltheimer. Lionsgate is set to report its fiscal fourth-quarter earnings on Thursday.