Lionsgate Studios (LION) 10-Q 10 Feb 25 2025 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2024	Feb. 03, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-42102
Entity Registrant Name	Lionsgate Studios Corp.
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	250 Howe Street
Entity Address, Address Line Two	20th Floor
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6C 3R8
City Area Code	877
Local Phone Number	848-3866
Title of 12(b) Security	Common Shares, no par value per share
Trading Symbol	LION
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		288,681,224
Entity Central Index Key	0002006191
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Amendment Flag	false
Principal Executive Offices
Document Information [Line Items]
Entity Address, Address Line One	2700 Colorado Avenue
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90404

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
ASSETS
Cash and cash equivalents	$ 186.2	$ 277
Accounts receivable, net	489.2	688.6
Due from Starz Business (Note 20)	176.5	33.4
Other current assets	294	373.1
Total current assets	1,145.9	1,372.1
Investment in films and television programs, net	2,457.4	1,929
Property and equipment, net	33.9	37.3
Investments	79.4	74.8
Intangible assets, net	22	25.7
Goodwill	808.5	811.2
Other assets	827.4	852.9
Total assets	5,374.5	5,103
LIABILITIES
Accounts payable	251.4	246.7
Content related payables	33.5	41.4
Other accrued liabilities	163	282.4
Participations and residuals	614.9	647.8
Film related obligations	1,421.2	1,393.1
Debt - short term portion	253.4	860.3
Deferred revenue	446.7	170.6
Total current liabilities	3,184.1	3,642.3
Debt	1,742.8	923
Participations and residuals	388.8	435.1
Film related obligations	443.2	544.9
Other liabilities	424.5	452.5
Deferred revenue	121.3	118.4
Deferred tax liabilities	19.9	13.7
Total liabilities	6,324.6	6,129.9
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests	99.7	123.3
EQUITY (DEFICIT)
Common shares, no par value, unlimited authorized, 288.7 shares issued (March 31, 2024- 253.4 shares issued)	300.7	0
Accumulated deficit	(1,446.4)	(1,249.1)
Accumulated other comprehensive income	64.8	96.7
Total Lionsgate Studios Corp shareholders’ equity (deficit)	(1,080.9)	(1,152.4)
Noncontrolling interests	31.1	2.2
Total equity (deficit)	(1,049.8)	(1,150.2)
Total liabilities, redeemable noncontrolling interests and equity (deficit)	$ 5,374.5	$ 5,103

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Dec. 31, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Common stock, shares issued (in shares)	288.7	253.4

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenue	$ 713.8	$ 691.6	$ 2,125.8	$ 2,106.3
Expenses:
Direct operating	457.1	433.6	1,440.9	1,306
Distribution and marketing	79.4	109.2	306	346
General and administration	82.4	86	259.4	261.6
Depreciation and amortization	4.4	3	13.2	11.1
Restructuring and other	40.9	52.5	75.8	61.5
Total expenses	664.2	684.3	2,095.3	1,986.2
Operating income	49.6	7.3	30.5	120.1
Interest expense	(58.5)	(55.5)	(180.1)	(157.1)
Interest and other income	3.1	1.7	11.4	6.9
Other gains (losses), net	10.1	(0.6)	(5.2)	(14.3)
Loss on extinguishment of debt	(0.3)	0	(1.8)	0
Gain on investments, net	0	4.4	0	2.7
Equity interests income	7.6	4.2	8.5	5.7
Income (loss) before income taxes	11.6	(38.5)	(136.7)	(36)
Income tax provision	(3.2)	(6.3)	(13.3)	(16.7)
Net income (loss)	8.4	(44.8)	(150)	(52.7)
Less: Net loss (income) attributable to noncontrolling interests	(2)	3.7	(0.4)	6.2
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$ 6.4	$ (41.1)	$ (150.4)	$ (46.5)
Per share information attributable to Lionsgate Studios Corp. shareholders:
Basic net income (loss) per common share (in dollars per share)	$ 0.02	$ (0.16)	$ (0.53)	$ (0.18)
Diluted net income (loss) per common share (in dollars per share)	$ 0.02	$ (0.16)	$ (0.53)	$ (0.18)
Weighted average number of common shares outstanding:
Basic (in shares)	288.7	253.4	283.3	253.4
Diluted (in shares)	288.7	253.4	283.3	253.4
Nonrelated Party
Revenue	$ 626	$ 557.9	$ 1,712.3	$ 1,684.2
Related Party
Revenue	$ 87.8	$ 133.7	$ 413.5	$ 422.1

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 8.4	$ (44.8)	$ (150)	$ (52.7)
Foreign currency translation adjustments, net of tax	(24.5)	3.1	(12.8)	1.8
Net unrealized gain (loss) on cash flow hedges, net of tax	0.7	(23)	(19.1)	(6.1)
Comprehensive loss	(15.4)	(64.7)	(181.9)	(57)
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2)	3.7	(0.4)	6.2
Comprehensive loss attributable to Lionsgate Studios Corp. shareholders	$ (17.4)	$ (61)	$ (182.3)	$ (50.8)

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) - USD ($) shares in Millions, $ in Millions	Total	Total Lionsgate Studios Corp. Equity (Deficit)	Common Shares	Accumulated Deficit	Parent Net Investment	Accumulated Other Comprehensive Income	Non-controlling Interests	[1]	Previously Reported	Previously Reported Total Lionsgate Studios Corp. Equity (Deficit)	Previously Reported Common Shares	Previously Reported Accumulated Deficit	Previously Reported Parent Net Investment	Previously Reported Accumulated Other Comprehensive Income	Previously Reported Non-controlling Interests	[1]	Retroactive application of recapitalization Common Shares	Retroactive application of recapitalization Accumulated Deficit	Retroactive application of recapitalization Parent Net Investment
Beginning balance (in shares) at Mar. 31, 2023			253.4								0						253.4
Beginning balance at Mar. 31, 2023	$ (778.9)	$ (780.4)	$ 0	$ (881.9)	$ 0	$ 101.5	$ 1.5		$ (778.9)	$ (780.4)	$ 0	$ 0	$ (881.9)	$ 101.5	$ 1.5			$ (881.9)	$ 881.9
Net income (loss)	(45.4)	(46.5)		(46.5)			1.1
Net transfers to Parent	(90.6)	(90.6)		(90.6)
Distributions to noncontrolling interests	(0.8)						(0.8)
Redeemable noncontrolling interests adjustments	(71.5)	(71.5)		(71.5)
Other comprehensive income (loss)	(4.3)	(4.3)				(4.3)
Ending balance (in shares) at Dec. 31, 2023			253.4
Ending balance at Dec. 31, 2023	(991.5)	(993.3)	$ 0	(1,090.5)	0	97.2	1.8
Beginning balance (in shares) at Sep. 30, 2023			253.4
Beginning balance at Sep. 30, 2023	(877.8)	(880.1)	$ 0	(997.2)		117.1	2.3
Net income (loss)	(40.8)	(41.1)		(41.1)			0.3
Net transfers to Parent	(51.7)	(51.7)		(51.7)
Distributions to noncontrolling interests	(0.8)						(0.8)
Redeemable noncontrolling interests adjustments	(0.5)	(0.5)		(0.5)
Other comprehensive income (loss)	(19.9)	(19.9)				(19.9)
Ending balance (in shares) at Dec. 31, 2023			253.4
Ending balance at Dec. 31, 2023	(991.5)	(993.3)	$ 0	(1,090.5)	0	97.2	1.8
Beginning balance (in shares) at Mar. 31, 2024			253.4								0						253.4
Beginning balance at Mar. 31, 2024	(1,150.2)	(1,152.4)	$ 0	(1,249.1)	0	96.7	2.2		$ (1,150.2)	$ (1,152.4)	$ 0	$ 0	$ (1,249.1)	$ 96.7	$ 2.2			$ (1,249.1)	$ 1,249.1
Net income (loss)	(148.4)	(150.5)		(150.5)			2.1
Net transfers to Parent	(55.8)	(55.8)		(55.8)
Noncontrolling interests (see Note 10)	33.6						33.6
Distributions to noncontrolling interests	(6.8)						(6.8)
Redeemable noncontrolling interests adjustments	9	9		9
Other comprehensive income (loss)	(31.9)	(31.9)				(31.9)
Share-based compensation, Lionsgate contribution post Separation, net of required tax withholding	22.5	22.5	$ 22.5
Issuance of LG Studios Common Shares upon Business Combination and PIPE Investments, net of issuance costs (in shares)			35.3
Issuance of LG Studios Common Shares upon Business Combination and PIPE Investments, net of issuance costs	278.2	278.2	$ 278.2
Ending balance (in shares) at Dec. 31, 2024			288.7
Ending balance at Dec. 31, 2024	(1,049.8)	(1,080.9)	$ 300.7	(1,446.4)	0	64.8	31.1
Beginning balance (in shares) at Sep. 30, 2024			288.7
Beginning balance at Sep. 30, 2024	(1,038.6)	(1,073.5)	$ 289.7	(1,451.8)		88.6	34.9
Net income (loss)	8.7	6.4		6.4			2.3
Net transfers to Parent	(0.6)			(0.6)
Distributions to noncontrolling interests	(6.1)						(6.1)
Redeemable noncontrolling interests adjustments	(0.4)	(0.4)		(0.4)
Other comprehensive income (loss)	(23.8)	(23.8)				(23.8)
Share-based compensation, Lionsgate contribution post Separation, net of required tax withholding	14.4	14.4	14.4
Issuance of LG Studios Common Shares upon Business Combination and PIPE Investments, net of issuance costs	(3.4)	(3.4)	$ (3.4)
Ending balance (in shares) at Dec. 31, 2024			288.7
Ending balance at Dec. 31, 2024	$ (1,049.8)	$ (1,080.9)	$ 300.7	$ (1,446.4)	$ 0	$ 64.8	$ 31.1
[1]Excludes redeemable noncontrolling interests, which are reflected in temporary equity (see Note 10).

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating Activities:
Net loss	$ (150)	$ (52.7)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	13.2	11.1
Amortization of films and television programs	1,053.3	948.1
Content and other impairments	25.8	0
Amortization of debt financing costs and other non-cash interest	21.9	19.6
Non-cash share-based compensation	46.9	53.6
Other non-cash items	25	29.3
Loss on extinguishment of debt	1.8	0
Equity interests income	(8.5)	(5.7)
Gain on investments, net	0	(2.7)
Deferred income taxes	6.1	0.7
Changes in operating assets and liabilities:
Accounts receivable, net	288.1	58.3
Investment in films and television programs, net	(1,546.1)	(700.8)
Other assets	(36.2)	(14.6)
Accounts payable and accrued liabilities	(143.7)	(86.9)
Participations and residuals	(81.9)	10.1
Content related payables	(10.1)	1.7
Deferred revenue	274.6	41.3
Due from Starz Business	(143.1)	91.1
Net Cash Flows Provided By (Used In) Operating Activities	(362.9)	401.5
Investing Activities:
Net proceeds from purchase price adjustments for eOne acquisition (see Note 3)	12	0
Purchase of eOne, net of cash acquired (see Note 3)	0	(331.1)
Proceeds from the sale of other investments	1.5	5.2
Investment in equity method investees and other	(2)	(11.3)
Acquisition of assets (film library and related assets)	(35)	0
Increase in loans receivable	0	(3.6)
Repayment of loans receivable	0.8	0
Purchases of accounts receivables held for collateral	0	(85.6)
Receipts of accounts receivables held for collateral	0	105.7
Capital expenditures	(9.9)	(5.1)
Net Cash Flows Used In Investing Activities	(32.6)	(325.8)
Financing Activities:
Debt - borrowings, net of debt issuance costs	3,555.6	2,270.5
Debt - repurchases and repayments	(3,317)	(1,926)
Film related obligations - borrowings	1,494.9	1,072.9
Film related obligations - repayments	(1,582.3)	(1,317.7)
Purchase of noncontrolling interest	(7.4)	(0.6)
Distributions to noncontrolling interest	(6.7)	(1.7)
Parent net investment	(95.5)	(127.6)
Tax withholding required on equity awards	(18.7)	0
Proceeds from Business Combination, net	281.7	0
Net Cash Flows Provided By (Used In) Financing Activities	304.6	(30.2)
Net Change In Cash, Cash Equivalents and Restricted Cash	(90.9)	45.5
Foreign Exchange Effects on Cash, Cash Equivalents and Restricted Cash	(3.7)	0.5
Cash, Cash Equivalents and Restricted Cash - Beginning Of Period	334.4	251.4
Cash, Cash Equivalents and Restricted Cash - End Of Period	$ 239.8	$ 297.4

Description of Business, Basis

Description of Business, Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business, Basis of Presentation and Significant Accounting Policies	1. Description of Business, Basis of Presentation and Significant Accounting Policies Nature of Operations Lionsgate Studios Corp. (the “Company,” “Lionsgate Studios,” “we,” “us,” or “our”) is a subsidiary of Lions Gate Entertainment Corp. (“Lionsgate” or “Parent”) which encompasses the motion picture and television studio operations (collectively referred to as the “Studio Business”) of Lionsgate. The Studio Business consists of the Motion Picture and Television Production reportable segments, together with substantially all of Lionsgate’s corporate general and administrative costs. Motion Picture consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired. Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series, and non-fiction programming. Television Production includes the domestic and international licensing of Starz original productions to the Media Networks segment of Lionsgate and its subsidiaries (the “Starz Business”), and the ancillary market distribution of Starz original productions and licensed product. Additionally, the Television Production segment includes the results of operations of 3 Arts Entertainment, a talent management company. Separation and Business Combination On May 13, 2024, Lionsgate consummated the transactions contemplated by that certain business combination agreement (the “Business Combination Agreement”), with Screaming Eagle Acquisition Corp., a Cayman Islands exempted company (“SEAC”), SEAC II Corp., a Cayman Islands exempted company and a wholly-owned subsidiary of SEAC (“New SEAC”), LG Sirius Holdings ULC, a British Columbia unlimited liability company and a wholly-owned subsidiary of Lionsgate (“Studio HoldCo”), LG Orion Holdings ULC, a British Columbia unlimited liability company and wholly-owned subsidiary of Lionsgate (“StudioCo”), and other affiliates of SEAC. Pursuant to the terms and conditions of the Business Combination Agreement, the Studio Business was combined with SEAC through a series of transactions, including an amalgamation of StudioCo and New SEAC under a Canadian plan of arrangement (the “Business Combination”). In connection with the closing of the Business Combination, New SEAC changed its name to “Lionsgate Studios Corp.” and continues the existing business operations of the Studio Business of Lionsgate. The Company became a separate publicly traded company and its common shares, without par value (“LG Studios Common Shares”), commenced trading on Nasdaq under the symbol “LION” on May 14, 2024. In connection with and prior to the Business Combination, Lionsgate and StudioCo entered into a separation agreement pursuant to which the assets and liabilities of the Studio Business were transferred to StudioCo such that StudioCo held, directly or indirectly, all of the assets and liabilities of the Studio Business (the “Separation”). The Business Combination was accounted for as a reverse recapitalization in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). Under this method of accounting, SEAC is treated as the acquired company and the Studio Business is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of Lionsgate Studios will represent a continuation of the financial statements of the Studio Business, with the Business Combination treated as the equivalent of the Studio Business issuing LG Studios Common Shares for the historical net assets of SEAC, substantially consisting of cash held in the trust account, accompanied by a recapitalization of the Studio Business equity. The historical net assets were stated at fair value, which approximated historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of the Studio Business. The Studio Business has been determined to be the accounting acquirer in the Business Combination because Lionsgate continues to hold a controlling financial interest. As a result of the Business Combination and additional private investments in public equities (“PIPE”) financing discussed in Note 2, former SEAC public shareholders and founders and new common equity financing investors own approximately 12.2% of LG Studios Common Shares. In addition to establishing the Studio Business as a standalone publicly-traded entity, the transaction resulted in approximately $330.0 million of gross proceeds to Lionsgate received as of December 31, 2024, including $254.3 million in PIPE financing. See Note 2 for additional information related to the Business Combination. Shortly after the closing of the Business Combination, approximately $299.0 million was used by the Company to pay down the Intercompany Note, see Note 7. Basis of Presentation Upon the effective date of the Separation, the Company’s financial statements are presented on a consolidated basis, as Lionsgate completed the contribution of the Studio Business on such date. The unaudited financial statements for all periods presented, including the historical results of the Company prior to the Separation, are now referred to as the “condensed consolidated financial statements”. For periods prior to the Separation, the Company operated as a segment of Lionsgate and not as a separate entity. The Company’s financial statements prior to the Separation were prepared on a carve-out basis and were derived from Lionsgate’s consolidated financial statements and accounting records and reflect Studio Business’s combined historical financial position, results of operations and cash flows as they were historically managed in accordance with U.S. GAAP. Prior to the Separation, a management approach was applied to determine the carve-out basis of presentation. In using the management approach, considerations over how the business operates were utilized to identify historical operations that should be presented within the carve-out financial statements. For periods subsequent to the Separation, the accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate Studios and all of its majority-owned and controlled subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S.GAAP for interim financial information and the instructions to quarterly report on Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and nine months ended December 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. The balance sheet at March 31, 2024 has been derived from the audited combined financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the Studio Business’ audited combined financial statements and related notes for the fiscal year ended March 31, 2024 as contained in Exhibit 99.1 of Amendment No. 2 to the Current Report on Form 8-K filed on October 15, 2024 with the U.S. Securities and Exchange Commission (“SEC”). Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. All revenues and costs as well as assets and liabilities directly associated with the business activity of the Studio Business were included in the accompanying unaudited condensed consolidated financial statements. Revenues and costs associated with the Studio Business were specifically identifiable in the accounting records maintained by Lionsgate and primarily represent the revenue and costs used for the determination of segment profit of the Motion Picture and Television Production segments of Lionsgate. In addition, prior to the separation, the Studio Business costs included an allocation of corporate general and administrative expense (inclusive of share-based compensation) which was allocated to the Studio Business as further discussed below. Other costs excluded from the Motion Picture and Television Production segment profit but relating to the Studio Business were generally specifically identifiable as costs of the Studio Business in the accounting records of Lionsgate and were included in the accompanying unaudited condensed consolidated financial statements in periods prior to the Separation . In connection with the Business Combination, on May 9, 2024, Lionsgate and StudioCo entered into a shared services and overhead sharing agreement (the “Shared Services Agreement”) which took effect upon the closing of the Business Combination. The Shared Services Agreement facilitates the allocation to the Company of all corporate general and administrative expenses of Lionsgate, except for an amount of $10.0 million to be allocated annually to the Starz Business of Lionsgate. The $10.0 million allocation of Lionsgate’s corporate general and administrative expenses to the Starz Business pursuant to the Shared Services Agreement is designed to reflect the portion of corporate expenses expended and reflective of the level of effort and costs incurred related to management oversight and services provided for the Starz Business post Separation with consideration of the anticipated separation of the Starz Business. The corporate general and administrative expenses that are allocated to the Company pursuant to the Shared Services Agreement include salaries and wages for certain executives and other corporate officers related to executive oversight, investor relations costs, costs for the maintenance of corporate facilities, and other common administrative support functions, including corporate accounting, finance and financial reporting, audit and tax costs, corporate and other legal support functions, and certain information technology and human resources. In addition, the Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of the Company will continue to receive awards of equity and equity-based compensation pursuant to the existing plans of Lionsgate. Such awards will be treated as a capital contribution by Lionsgate to the Company, with the associated stock based compensation expense for such awards allocated to the Company, see Note 13. For periods prior to the Separation, the unaudited condensed combined financial statements of the Studio Business included allocations of corporate general and administrative expenses (inclusive of share-based compensation) from Lionsgate related to the corporate and shared service functions historically provided by Lionsgate. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remainder allocated on a pro rata basis of consolidated Lionsgate revenue, payroll expense or other measures considered to be a reasonable reflection of the historical utilization levels of these services. Management believes the assumptions underlying these unaudited condensed consolidated financial statements, including the assumptions regarding the allocation of general and administrative expenses from Lionsgate to the Studio Business prior to the Separation, are reasonable. See Note 20 for further detail of the allocations included in the unaudited condensed consolidated financial statements. In connection with the Business Combination, the Company entered into certain intercompany note arrangements, which mirrored the terms and amounts outstanding under Lionsgate’s credit facilities as previously reflected in the historical financial statements of the Studio Business prior to the Separation, see Note 7. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs; estimates related to the revenue recognition of sales or usage-based royalties; fair value of equity-based compensation; the allocations of costs to the Company for certain corporate and shared service functions in preparing the unaudited condensed consolidated financial statements for periods prior to the Separation on a carve-out basis; fair value of assets and liabilities for allocation of the purchase price of companies and assets acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; impairment assessments for investment in films and television programs, and goodwill. Actual results could differ from such estimates. Recent Accounting Pronouncements Segment Reporting: In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance which expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2025 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Taxes: In December 2023, the FASB issued guidance which expands income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, this guidance requires all entities disaggregate disclosures by jurisdiction on the amount of income taxes paid (net of refunds received), income or loss from continuing operations before income tax expense (or benefit) and income tax expense (or benefit) from continuing operations. This guidance is effective for fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Statement: In November 2024, the FASB issued guidance requiring public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This guidance is effective for fiscal years beginning after December 15, 2026, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2028 and interim reporting periods beginning in fiscal 2029, with early adoption permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures.

Business Combination

Business Combination	9 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combination	2. Business Combination As discussed in Note 1, on May 13, 2024 (the “Closing Date”) the Company consummated the transactions contemplated by the Business Combination (the “Closing”). The following table presents the number of LG Studios Common Shares issued in connection with the Closing: Number of LG Studios Common Shares Issued Shares issued to SEAC public shareholders (1) 7,027,873 Shares issued to SEAC Sponsor and its permitted transferees (2) 2,010,000 Shares issued to PIPE Investors (3) 25,759,430 Additional shares issued (4) 448,127 Total shares issued in Business Combination and related transactions 35,245,430 Shares issued to Lionsgate (5) 253,435,794 Total Lionsgate Studios Common Shares following the Closing of the Business Combination 288,681,224 ______________ (1) Reflects 7,027,873 LG Studios Common Shares issued to holders of Class A ordinary shares of SEAC (the “SEAC Class A Ordinary Shares”) which were subject to possible redemption. This reflects the 75,000,000 SEAC Class A Ordinary Shares outstanding as of March 31, 2024, net of 67,972,127 SEAC Class A Ordinary Shares which were redeemed prior to the Closing for $730.1 million in aggregate at a weighted average redemption price of $10.745 per share. (2) Reflects 2,010,000 LG Studios Common Shares issued to Eagle Equity Partners V, LLC (the “SEAC Sponsor”) and its permitted transferees in connection with their SEAC Class A Ordinary Shares held after the conversion of their Class B ordinary shares of SEAC (the “SEAC Class B Ordinary Shares”) and repurchase of 16,740,000 SEAC Class B Ordinary Shares pursuant to the Sponsor Securities Repurchase, as described below, prior to the Business Combination. The number of LG Studios Common Shares issued excludes options issued in the Sponsor Securities Repurchase described below, for the purchase of 2,200,000 LG Studios Common Shares subject to certain vesting restrictions pursuant to the Sponsor Option Agreement described below. (3) Reflects 14,141,559 LG Studios Common Shares issued at a purchase price of $9.63 per share and 11,617,871 LG Studios Common Shares issued at a purchase price of $10.165 per share, to certain institutional and accredited investors (the “PIPE Investors”) pursuant to subscription agreements as described below. Amounts exclude 1,953,976 PIPE Shares for which Reduction Rights as described below were exercised. (4) Reflects 254,200 LG Studios Common Shares issued pursuant to share purchase and/or non-redemption agreements (the “Non-Redemption Agreements”) SEAC and New SEAC entered into with certain investors prior to the Business Combination and 193,927 LG Studios Common Shares issued to certain PIPE Investors for which Reduction Rights, as described below, were exercised. (5) Reflects 253,435,794 LG Studios Common Shares issued to Lionsgate through a series of transactions, including an amalgamation of StudioCo and New SEAC, as consideration for the cancellation and exchange of each then issued and outstanding common share, without par value, of StudioCo. Under the recapitalization accounting, these shares are reflected as issued and outstanding as of the beginning of the earliest period presented in the unaudited condensed consolidated statements of equity (deficit). The following table presents and reconciles elements of the Business Combination and related transactions to the consolidated statement of cash flows and the consolidated statement of equity (deficit) for the nine months ended December 31, 2024 (amounts in millions): Gross cash proceeds from SEAC trust account, net of redemptions (1) $ 75.7 Gross cash proceeds from PIPE Investment, net of Reduction Rights exercised (2) 254.3 Total gross cash proceeds 330.0 Less: SEAC warrant exchange payment (3) (12.5) Less: SEAC transaction costs (20.1) Less: Lionsgate Studios transaction costs (19.2) Net proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of equity (deficit) 278.2 Add: Transaction costs accrued and not paid, net of transaction costs previously paid 3.5 Net cash proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of cash flows $ 281.7 ______________ (1) Reflects the remaining $75.7 million in SEAC’s trust account, established at the consummation of SEAC’s initial public offering, after redemptions. As described above, 7,027,873 LG Studios Common Shares were issued to holders of SEAC Class A Ordinary Shares which were subject to possible redemption and not redeemed prior to the Closing. (2) Reflects the gross proceeds from the issuance of 25,759,430 LG Studios Common Shares to PIPE Investors, net of Reduction Rights exercised. (3) Prior to the Closing, each of the then issued and outstanding whole warrants of SEAC, sold as part of SEAC’s initial public offering (the “SEAC Public Warrants”) was automatically exchanged for $0.50 in cash pursuant to the terms of an amendment to the agreement governing the SEAC Public Warrants. As of the Closing, no SEAC Public Warrants were outstanding. PIPE Investment Concurrently with the execution of the Business Combination Agreement, SEAC, New SEAC and Lionsgate entered into subscription agreements with PIPE Investors (the “Initial Subscription Agreements”) pursuant to which PIPE Investors agreed to purchase from the Company an aggregate of 18,172,378 LG Studios Common Shares (the “Initial PIPE Shares”), at a purchase price of $9.63 per share, immediately following the Closing. Pursuant to the Initial Subscription Agreements, certain PIPE Investors elected to offset their commitment under their Initial Subscription Agreement (the “Reduction Right”) with respect to 1,953,976 PIPE Shares, which reduced the Initial PIPE Shares to 16,218,402 shares. PIPE Investors that exercised Reduction Rights were entitled to purchase from SEAC a fractional share of newly issued SEAC Class A Ordinary Shares at a nominal purchase price for every SEAC Class A Ordinary Share for which it exercised its Reduction Right, and resulted in 193,927 newly issued SEAC Class A Ordinary Shares being issued, which ultimately resulted in 193,927 LG Studios Common Shares as reflected in the table above. Prior to the close of the Business Combination, SEAC, New SEAC and Lionsgate entered into additional subscription agreements with additional PIPE Investors pursuant to which such PIPE Investors agreed to purchase from the Company an aggregate of 11,617,871 LG Studios Common Shares at a purchase price of $10.165 per share, immediately following the Closing. The aggregate gross proceeds from the PIPE Investment received at the Closing was $254.3 million, which amount excludes an aggregate of approximately $20.0 million that remains due from a PIPE Investor that subscribed for 2,076,843 LG Studios Common Shares pursuant to the Initial Subscription Agreements and which shares, as of December 31, 2024, are pending issuance subject to receipt of such amount. Sponsor Option; Lions Gate Parent Issuance and Sponsor Issuance In connection with the Business Combination, SEAC repurchased 16,740,000 of the SEAC Class B Ordinary Shares, representing the SEAC Class B Ordinary Shares in excess of 1,800,000 held by SEAC Sponsor (the “Sponsor Securities Repurchase”), in exchange for an aggregate of $1.00 and 2,200,000 options of SEAC (the “SEAC Sponsor Options”) each of which entitled SEAC Sponsor to purchase one SEAC Class A Ordinary Share at $0.0001 per share, (the “Sponsor Option Agreement”). In connection with the Business Combination, the SEAC Sponsor Options ultimately became options to purchase LG Studios Common Shares pursuant to the terms of the Sponsor Option Agreement, see Note 13. After the repurchase of the SEAC Class B Ordinary Shares, there were 2,010,000 SEAC Class B Ordinary Shares outstanding (consisting of the 1,800,000 and 210,000 of SEAC Class B Ordinary Shares held by the SEAC Sponsor and the independent directors and advisors, respectively) which automatically converted into SEAC Class A Ordinary Shares and were exchanged for 2,010,000 LG Studios Common Shares as reflected in the table above. Non-Redemption Agreements In connection with the Business Combination, SEAC and New SEAC entered into non-redemption agreements with certain investors (the “Non-Redemption Investors”), pursuant to which Non-Redemption Investors who met the terms and conditions set forth in the non-redemption agreement were entitled to purchase from SEAC a fractional share of newly issued SEAC Class A Ordinary Shares at a nominal purchase price for every Purchase Commitment Share, as defined in the non-redemption agreement, purchased. As a result, 254,200 newly issued SEAC Class A Ordinary Shares were issued to the Non-Redemption Investors, ultimately 254,200 LG Studios Common Shares as reflected in the table above. Intercompany Note Repayment

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	3. Acquisitions Acquired Library On June 5, 2024, the Company invested approximately $35.0 million for a 51% members’ interest in a newly formed limited liability company, CP LG Library Holdings, LLC (“CP LG”), with the Company designated as the managing member of CP LG. CP LG used the funds received from the Company, along with funds invested by the 49% member, to acquire a library of 46 films for approximately $68.6 million. Also on June 5, 2024, the Company entered into a distribution agreement with CP LG to distribute the titles in the acquired library. The purchase included the film library (of which $48.3 million of the purchase price was allocated to investment in film and television programs for the film library), accounts receivable and certain liabilities associated with the film library, most notably participations and residuals liabilities. The Company determined that CP LG is a variable interest entity (“VIE”) for which it is the primary beneficiary and is consolidated under the applicable accounting guidance as the Company has the power to direct the significant activities and the right to receive benefits and obligation to absorb losses of CP LG. The Company concluded that the acquired library and related assets and liabilities was not a business and therefore, accounted for the acquisition as an initial consolidation of a VIE that is not a business under the applicable accounting guidance. There was no gain or loss recognized upon initial consolidation of the VIE as the sum of the fair value of the consideration paid and noncontrolling interest equaled the fair value of the net assets on the acquisition date. See Note 10 for the noncontrolling interest recorded related to CP LG. As of December 31, 2024, the unaudited condensed consolidated balance sheet included assets and liabilities of CP LG totaling $72.6 million (which is primarily comprised of investment in film and television programs) and $12.3 million, respectively. The assets and liabilities of CP LG primarily consist of accounts receivable, investment in film and television programs, and participations and residuals. eOne Acquisition On December 27, 2023, Lionsgate and its subsidiaries, Lions Gate Entertainment Inc., a Delaware corporation (“LGEI”), and Lions Gate International Motion Pictures S.à.r.l., a Luxembourg société à responsabilité limitée (“LGIMP” and, with the Company and LGEI, collectively the “Buyers”), completed the acquisition of all of the issued and outstanding equity interests of the companies constituting the Entertainment One television and film (“eOne”) business from Hasbro, Inc., a Rhode Island corporation (“Hasbro”), pursuant to that certain Equity Purchase Agreement (the “Purchase Agreement”) dated August 3, 2023. The aggregate cash purchase price was approximately $373.1 million. The acquisition of eOne, a film and television production and distribution company, builds the Company's film and television library, strengthens the Company's scripted and unscripted television business, and continues to expand the Company's presence in Canada and the U.K. The acquisition was accounted for under the acquisition method of accounting, with the financial results of eOne included in the Company's consolidated results from December 27, 2023. Allocation of Purchase Consideration. The Company has made an allocation of the purchase price of eOne to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair value as follows: (Amounts in millions) Cash and cash equivalents $ 54.1 Accounts receivable 293.2 Investment in films and television programs 370.2 Property and equipment 14.0 Intangible assets 4.0 Other assets (1) 172.4 Accounts payable and accrued liabilities (69.3) Content related payables (38.8) Participations and residuals (1) (202.9) Film related obligations (1) (105.8) Other liabilities and deferred revenue (1) (130.9) Fair value of net assets acquired 360.2 Goodwill 12.9 Purchase price consideration at December 31, 2024 $ 373.1 ______________ (1) Includes current and non-current amounts. The goodwill amount reflected in the table above arises from the opportunity for strengthening the Company’s global distribution infrastructure and enhanced positioning for motion picture and television projects and selling opportunities. The goodwill will not be amortized for financial reporting purposes, and will not be deductible for federal tax purposes. The fair value measurements were primarily based on significant inputs that are not observable in the market, such as discounted cash flow (DCF) analyses, and thus represent Level 3 fair value measurements. Investment in films and television programs includes the fair value of completed films and television programs which have been produced by eOne or for which eOne has acquired distribution rights, as well as the fair value of films and television programs in production, pre-production and development. For investment in films and television programs, the fair value was estimated based on forecasted cash flows discounted to present value at a rate commensurate with the risk of the assets. Titles that were released less than three years prior to the acquisition date (December 27, 2023) were valued individually and will be amortized using the individual film forecast method, based on the ratio of current period revenues to management’s estimated remaining total gross revenues to be earned ("ultimate revenue"). Titles released more than three years prior to the acquisition date were valued as part of a library and will be amortized on a straight-line basis over the estimated useful life of 5 years to 10 years. The intangible assets acquired include trade names with a weighted average estimated useful life of 5 years. The fair value of the trade names was estimated based on the present value of the hypothetical cost savings that could be realized by the owner of the trade names as a result of not having to pay a stream of royalty payments to another party. These cost savings were calculated based on a DCF analysis of the hypothetical royalty payment that a licensee would be required to pay in exchange for use of the trade names, reduced by the tax effect realized by the licensee on the royalty payments. Other fair value adjustments were made to property and equipment and right-of-use lease assets to reflect the fair value of certain assets upon acquisition. Deferred taxes, net of any required valuation allowance, were adjusted to record the deferred tax impact of acquisition accounting adjustments primarily related to amounts allocated to film and television programs, other intangible assets, and certain property and equipment, right-of-use lease assets, and other liabilities. The fair value of eOne's cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, participations and residuals, film related obligations and other liabilities were estimated to approximate their book values. Pro Forma Statement of Operations Information. The following unaudited pro forma condensed consolidated statement of operations information presented below illustrates the results of operations of the Company as if the acquisition of eOne as described above occurred on April 1, 2023. The unaudited pro forma condensed consolidated financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisition had occurred on April 1, 2023, nor is it indicative of future results. The statement of operations information below includes the statement of operations of eOne for the nine months ended September 30, 2023 combined with the Company's statement of operations for the nine months ended December 31, 2023, respectively. Three Months Ended Nine Months Ended December 31, December 31, 2023 2023 (Amounts in millions) Revenues $ 832.5 $ 2,525.6 Net income (loss) attributable to Lionsgate Studios Corp. (21.2) (323.7) The unaudited pro forma condensed consolidated financial information includes, where applicable, adjustments for (i) reductions in amortization expense from the fair value adjustments to investment in films and television programs, (ii) reduction in amortization expense related to acquired intangible assets, (iii) reduction in depreciation expense from the fair value of property and equipment, (iv) transaction costs and other one-time non-recurring costs, (v) increase in interest expense resulting from financing the acquisition with borrowings under the Company's revolving credit facility, (vi) elimination of intercompany activity between eOne and the Company, and (vii) associated tax-related impacts of adjustments. These pro forma adjustments are based on available information as of the date hereof and upon assumptions that the Company believes are reasonable to reflect the impact of the acquisition of eOne on the Company's historical financial information on a supplemental pro forma basis. The unaudited pro forma condensed consolidated statement of operations information does not include adjustments related to integration activities, operating efficiencies or cost savings. In addition, the unaudited pro forma condensed consolidated financial information for the nine months ended December 31, 2023 includes an impairment of goodwill and trade name of $296.2 million which was reflected in the statement of operations of eOne for the nine months ended September 30, 2023. The results of operations of eOne were reflected beginning December 27, 2023, in the Motion Picture and Television Production reportable segments of the Company.

Investment in Films and Televis

Investment in Films and Television Programs	9 Months Ended
	Dec. 31, 2024
Investment in Films And Television Programs [Abstract]
Investment in Films and Television Programs	4. Investment in Films and Television Programs The predominant monetization strategy for all of the Company’s investments in films and television programs is on an individual film basis. Total investment in films and television programs is as follows: December 31, 2024 March 31, 2024 (Amounts in millions) Investment in Films and Television Programs: Released, net of accumulated amortization $ 1,011.6 $ 992.2 Completed and not released 201.3 225.4 In progress 1,129.2 644.4 In development 115.3 67.0 Investment in films and television programs, net $ 2,457.4 $ 1,929.0 At December 31, 2024, acquired film and television libraries have remaining unamortized costs of $245.0 million, which are monetized individually and are being amortized on a straight-line basis or the individual-film-forecast method over a weighted average remaining period of approximately 13.5 years (March 31, 2024 - unamortized costs of $223.1 million). Amortization of investment in film and television programs was $335.5 million and $1,053.3 million for the three and nine months ended December 31, 2024, respectively, and was included in direct operating expense in the unaudited condensed consolidated statements of operations (three and nine months ended December 31, 2023 - $311.4 million and $948.1 million, respectively). Impairments. Investment in films and television programs includes write-downs to fair value, which are included in direct operating expense on the unaudited condensed consolidated statements of operations, and represented the following amounts by segment for the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Impairments by segment: Included in direct operating expense (1) : Motion Picture $ 0.2 $ 0.5 $ 18.8 $ 27.5 Television Production 0.4 1.2 0.4 6.6 Impairments not included in segment operating results (2) Included in restructuring and other 7.3 — 6.8 — $ 7.9 $ 1.7 $ 26.0 $ 34.1 ________________________ (1) Impairments included in direct operating expense are included in the amortization expense amounts disclosed above. (2) Amounts in the three and nine months ended December 31, 2024 primarily represent content impairments related to the Motion Picture and Television Production segments associated with exiting local production in certain international territories. See Note 15.

Investments

Investments	9 Months Ended
	Dec. 31, 2024
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Investments	5. Investments The Company’s investments consisted of the following: December 31, 2024 March 31, 2024 (Amounts in millions) Investments in equity method investees $ 69.7 $ 68.4 Other investments (1) 9.7 6.4 $ 79.4 $ 74.8 ______________________ (1) Other investments represents equity investments without readily determinable fair values. Equity Method Investments: The Company has investments in various equity method investees with ownership percentages ranging from approximately 6% to 49%. These investments include: Spyglass. Spyglass is a global premium content company, focused on developing, producing, financing and acquiring motion pictures and television programming across all platforms for worldwide audiences. STARZPLAY Arabia. STARZPLAY Arabia (Playco Holdings Limited) offers a STARZ-branded online subscription video-on-demand service in the Middle East and North Africa. Roadside Attractions . Roadside Attractions is an independent theatrical distribution company. Pantelion Films. Pantelion Films is a joint venture with Videocine, an affiliate of Televisa, which produces, acquires and distributes a slate of English and Spanish language feature films that target Hispanic moviegoers in the U.S. 42. 42 is a fully integrated management and production company, producing film, television and content, representing actors, writers, directors, comedians, presenters, producers, casting directors and media book rights; with offices in London and Los Angeles. Other. In addition to the equity method investments discussed above, the Company holds ownership interests in other immaterial equity method investees.

Goodwill

Goodwill	9 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	6. Goodwill Goodwill Changes in the carrying value of goodwill by reporting segment were as follows: Motion Television Total (Amounts in millions) Balance as of March 31, 2024 $ 398.6 $ 412.6 $ 811.2 Measurement period adjustments (1) (1.7) (1.0) (2.7) Balance as of December 31, 2024 $ 396.9 $ 411.6 $ 808.5 ________________________ (1)

Debt

Debt	9 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	7. Debt Total debt of the Company, excluding film related obligations, was as follows: December 31, 2024 March 31, 2024 (Amounts in millions) Intercompany Revolver $ 134.4 $ — Intercompany Note: LGTV Revolver (1) 390.0 575.0 LGTV Term Loan A (1) 314.4 399.3 LGTV Term Loan B (1) — 819.2 eOne IP Credit Facility 331.5 — LG IP Credit Facility 850.0 — Total corporate debt 2,020.3 1,793.5 Unamortized debt issuance costs (24.1) (10.2) Total debt, net 1,996.2 1,783.3 Less current portion (253.4) (860.3) Non-current portion of debt $ 1,742.8 $ 923.0 ________________________ (1) As of March 31, 2024, amounts reflect the balances outstanding under Lionsgate’s Credit Agreement (including the revolving credit facility, term loan A and term loan B, together referred to as the “Lionsgate Senior Credit Facilities”) prior to the Company’s entry into the Intercompany Note with LGCH described below. Intercompany Note and Intercompany Revolver Intercompany Revolver . In connection with the Separation and Business Combination, on May 13, 2024, LGAC International LLC, a Delaware limited liability company and wholly owned consolidated subsidiary of the Company (“LGAC International”) and Lions Gate Capital Holdings 1, Inc., a Delaware corporation and subsidiary of Lionsgate (“LGCH1”), which is not a consolidated subsidiary of Lionsgate Studios, entered into a revolving credit agreement (the “Intercompany Revolver”), pursuant to which LGAC International and LGCH1 agreed to make revolving loans to each other from time to time, provided that the net amount owing by one party to the other at any particular time may not exceed $150.0 million. Amounts advanced by one party will be used to repay existing indebtedness owing to the other party thereunder, if any, such that at no time will amounts be owing in both directions. The net amount owing under the Intercompany Revolver, at any time, shall bear interest on the outstanding principal amount at a rate equal to adjusted term SOFR plus 1.75%. The Intercompany Revolver will, among other things, terminate in connection with a full separation of the Studio and Starz Businesses. Intercompany Note. In connection with the Separation and Business Combination, on May 8, 2024, Lions Gate Capital Holdings LLC, a Delaware limited liability company and subsidiary of Lionsgate (“LGCH”), which is not a consolidated subsidiary of Lionsgate Studios, as lender, entered into an intercompany note and assumption agreement (the “Intercompany Note”) with Lions Gate Television Inc., a Delaware corporation and wholly owned consolidated subsidiary of the Company (“LGTV”), as borrower and assuming party. Pursuant to the Intercompany Note, LGTV is able to borrow up to $1.1 billion from LGCH on a revolving basis (the “LGTV Revolver”). LGTV also assumed balances of $399.3 million in term A loans (“LGTV Term Loan A”) and $819.2 million in term B loans (“LGTV Term Loan B” and together with the LGTV Revolver and the LGTV Term Loan A, the “LGTV Loans”). Assumed balances of the LGTV Term Loan A and LGTV Term Loan B reflected the outstanding balances of Lionsgate’s term loan A and term loan B under the credit and guarantee agreement dated December 8, 2016, as amended (the “Lionsgate Credit Agreement”). The terms of the Intercompany Note provide that the outstanding obligations and debt service requirements (principal and interest payments) of the Company remain substantially similar to the amounts and terms reflected in historical periods prior to the Separation. LGTV Revolver Availability of Funds & Commitment Fee. The Company’s borrowing capacity under the LGTV Revolver is $1.1 billion, and as of December 31, 2024 there was $710.0 million available thereunder. LGTV is required to pay a quarterly commitment fee on the revolving credit facility of 0.250% to 0.375% per annum, depending on Lionsgate’s achievement of certain leverage ratios, as defined in the Lionsgate Credit Agreement. Maturity Date: • LGTV Revolver & LGTV Term Loan A: April 6, 2026. • LGTV Term Loan B: In November 2024, the Company paid in full the LGTV Term Loan B which was due March 24, 2025. See the "Other Debt Transactions" section below. Interest: • LGTV Revolver & LGTV Term Loan A: The LGTV Revolver and LGTV Term Loan A bear interest at a rate per annum equal to SOFR plus 0.10% plus 1.75% margin (or an alternative base rate plus 0.75%), with a SOFR floor of zero. The margin is subject to potential increases of up to 50 basis points (two increases of 25 basis points each) upon certain increases to net first lien leverage ratios, as defined in the Lionsgate Credit Agreement (effective interest rate of 6.18% as of December 31, 2024, before the impact of interest rate swaps, see Note 18 for interest rate swaps). • LGTV Term Loan B: The LGTV Term Loan B bore interest at a rate per annum equal to SOFR plus 0.10% plus 2.25% margin, with a SOFR floor of zero (or an alternative base rate plus 1.25% margin). Required Principal Payments: • LGTV Term Loan A: Principal payments are required in an amount equal to LGTV’s pro rata share (as determined by LGCH in its reasonable discretion) of the principal payments due and payable under the Lionsgate Credit Agreement. The Lionsgate Credit Agreement requires quarterly principal payments, at quarterly rates of 1.75% and increasing to 2.50% beginning September 30, 2024 through March 31, 2026, with the balance payable at maturity. The LGTV Term Loan A also requires mandatory prepayments in the event LGCH is required to make a mandatory repayment pursuant to the terms of the Lionsgate Credit Agreement. The Lionsgate Credit Agreement requires repayment in connection with certain asset sales, subject to certain significant exceptions. Optional Prepayment: • LGTV Revolver & LGTV Term Loan A: The Company may voluntarily prepay the LGTV Loans at any time without premium or penalty. Guarantee and Security Matters. The Company and certain of its subsidiaries continue to be guarantors under the Lionsgate Senior Credit Facilities. The Lionsgate Senior Credit Facilities are secured by a security interest in substantially all of the assets of Lionsgate and the Guarantors (as defined in the Credit Agreement), subject to certain exceptions. The Intercompany Note and the Intercompany Revolver are not secured obligations of the obligors thereunder. In the event the Company and its subsidiaries that are Guarantors cease to be Guarantors under the Lionsgate Senior Credit Facilities, LGCH has the right to cause the Company and such subsidiaries to take actions to become guarantors under the Intercompany Note and provide security over property or assets previously pledged under the Lionsgate Senior Credit Facilities. Covenants. The Intercompany Note contains representations and warranties, events of default and affirmative and negative covenants that are customary for similar financings. In addition, the Intercompany Note requires the Company observe and perform each of the covenants set forth in the Lionsgate Credit Agreement which include, among other things and subject to certain significant exceptions, restrictions on the ability to declare or pay dividends, create liens, incur additional indebtedness, make investments, dispose of assets and merge or consolidate with any other person. In addition, a net first lien leverage maintenance covenant and an interest coverage ratio maintenance covenant apply to the Lionsgate Credit Agreement and are tested quarterly by Lionsgate. These covenants and ratios are applicable to and computed for the applicable entities pursuant to the Lionsgate Credit Agreement, which includes Lionsgate subsidiaries which are not part of the Company. As of December 31, 2024, the Company and Lionsgate were in compliance with all applicable covenants. Sale Transaction or Change of Control. LGTV is required to prepay the LGTV Loans immediately prior to or simultaneously with the closing of any Sale Transaction or Change of Control, as defined in the Intercompany Note. eOne IP Credit Facility. In July 2024, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the "eOne IP Credit Facility") based on and secured by the Company’s intellectual property rights primarily associated with certain titles acquired as part of the eOne acquisition. The maximum principal amount of the eOne IP Credit Facility is $340.0 million, subject to the amount of collateral available, which is based on the valuation of unsold rights from the libraries. The eOne IP Credit Facility is subject to quarterly required principal payments of $8.5 million, beginning November 14, 2024, with the balance payable at maturity. Advances under the eOne IP Credit Facility bear interest at a rate equal to Term SOFR plus 2.25% per annum (effective interest rate of 6.58% as of December 31, 2024, before the impact of interest rate swaps, see Note 18 for interest rate swaps). The eOne IP Credit Facility matures on July 3, 2029. LG IP Credit Facility. In September 2024, certain subsidiaries of the Company entered into a $455.0 million senior secured amortizing term credit facility (the "LG IP Credit Facility") based on and secured by the Company’s intellectual property rights primarily associated with certain titles. In November 2024 and December 2024, the Company closed amendments which increased the maximum principal amount of the LG IP Credit Facility to $850.0 million as of December 31, 2024, subject to the amount of collateral available, which is based on the valuation of unsold rights from the libraries. The LG IP Credit Facility is subject to quarterly required principal payments of $21.25 million, beginning February 14, 2025, with the balance payable at maturity. Advances under the LG IP Credit Facility bear interest at a rate equal to Term SOFR plus 2.25% per annum (effective interest rate of 6.58% as of December 31, 2024, before the impact of interest rate swaps, see Note 18 for interest rate swaps). The LG IP Credit Facility matures on September 30, 2029. Lionsgate Exchange Notes and Existing Notes: On May 8, 2024, LGCH1, an indirect, wholly-owned subsidiary of Lionsgate, which is not a consolidated subsidiary of Lionsgate Studios, issued $389.9 million aggregate principal amount of 5.5% senior notes due 2029 (the “Exchange Notes”) in exchange for an equivalent amount of Lionsgate’s existing 5.5% senior notes due 2029 (the “Existing Notes”). The Exchange Notes initially bear interest at 5.5% annually and mature April 15, 2029, with the interest rate increasing to 6.0% and the maturity date extending to April 15, 2030 effective upon Lionsgate’s completion of the separation of the Starz Business from the Studio Business. Lionsgate may redeem the Exchange Notes, in whole at any time, or in part from time to time, prior to or on and after the Separation Closing Date, as defined in the indenture governing the Exchange Notes, at certain specified redemption prices set forth in the indenture governing the Exchange Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date. The Exchange Notes and Existing Notes and related interest expense are not reflected in the Company’s unaudited condensed consolidated financial statements. The Company and certain of its subsidiaries are guarantors under the Exchange Notes and the Existing Notes. Upon completion of the separation of the Starz Business from the Studio Business, the Exchange Notes will become obligations of the Company and will be reflected in the Company’s financial statements at that time. The outstanding principal balance of the Exchange Notes and Existing Notes totaled $715.0 million at December 31, 2024 and March 31, 2024. As of December 31, 2024, Lionsgate was in compliance with all applicable covenants with respect to the Exchange Notes and the Existing Notes. Other Debt Transactions LGTV Term Loan A and LGTV Term Loan B Prepayment . In May 2024, the Company used the proceeds from the equity issuance associated with the Business Combination (Note 2) to prepay $84.9 million principal amount of the LGTV Term Loan A and $214.1 million of the LGTV Term Loan B, together with accrued and unpaid interest thereon. In September 2024, the Company used the proceeds from the LG IP Credit Facility to prepay $355.1 million principal amount of the LGTV Term Loan B, together with accrued and unpaid interest thereon. In November 2024, the Company used the proceeds from the increase in the LG IP Credit Facility to pay in full the remaining $250.0 million principal amount of the LGTV Term Loan B, together with accrued and unpaid interest thereon. Loss on Extinguishment of Debt During the three and nine months ended December 31, 2024 and 2023, the Company recorded a loss on extinguishment of debt related to the transactions described above as summarized in the table below. Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 (Amounts in millions) Loss on Extinguishment of Debt: Term Loan A and Term Loan B repayment (1) $ (0.3) $ — $ (1.8) $ — ________________________ (1) See LGTV Term Loan A and LGTV Term Loan B Prepayment

Film Related Obligations

Film Related Obligations	9 Months Ended
	Dec. 31, 2024
Film Related Obligations [Abstract]
Film Related Obligations	8. Film Related Obligations December 31, 2024 March 31, 2024 (Amounts in millions) Film related obligations: Production Loans $ 1,346.0 $ 1,292.2 Production Tax Credit Facility 257.8 260.0 Backlog Facility and Other 179.0 287.3 Film Library Facility 87.5 109.9 Total film related obligations 1,870.3 1,949.4 Unamortized issuance costs (5.9) (11.4) Total film related obligations, net 1,864.4 1,938.0 Less current portion (1,421.2) (1,393.1) Total non-current film related obligations $ 443.2 $ 544.9 Production Loans . Production loans represent individual and multi-title loans for the production of film and television programs that the Company produces. The majority of the Company’s production loans have contractual repayment dates either at or near the expected completion or release dates, with the exception of certain loans containing repayment dates on a longer term basis, and incur primarily SOFR-based interest at a weighted average rate of 5.82% (before the impact of interest rate swaps, see Note 18 for interest rate swaps). Production loans amounting to $1,212.8 million are secured by collateral which consists of the underlying rights related to the intellectual property (i.e. film or television show), and $133.2 million are unsecured. Production Tax Credit Facility. In January 2021, as amended in March 2024, the Company entered into a non-recourse senior secured revolving credit facility (the “Production Tax Credit Facility”) based on and secured by collateral consisting solely of certain of the Company’s tax credit receivables. As of December 31, 2024, the maximum principal amount of the Production Tax Credit Facility was $260.0 million, subject to the amount of collateral available, which is based on specified percentages of amounts payable to the Company by governmental authorities pursuant to the tax incentive laws of certain eligible jurisdictions that arise from the production or exploitation of motion pictures and television programming in such jurisdiction. Cash collections from the underlying collateral (tax credit receivables) are used to repay the Production Tax Credit Facility. As of December 31, 2024, tax credit receivables amounting to $353.1 million represented collateral related to the Production Tax Credit Facility. Advances under the Production Tax Credit Facility bear interest at a rate equal to SOFR plus 0.10% to 0.25% depending on the SOFR term (i.e., one, three or six months), plus 1.50% per annum or the base rate plus 0.50% per annum (effective interest rate of 5.93% at December 31, 2024). As of December 31, 2024, there was $2.2 million available under the Production Tax Credit Facility. The Production Tax Credit Facility was to mature on January 27, 2025, however in January and February 2025, the Company entered into amendments to the Production Tax Credit Facility which extended the maturity to January 27, 2028 and increased the maximum principal amount to $280.0 million, see Note 21. Film Library Facility. In July 2021, as amended in September 2022, certain subsidiaries of the Company entered into a senior secured amortizing term credit facility (the “Film Library Facility”) based on and secured by the collateral consisting solely of certain of the Company’s rights in certain acquired library titles. The maximum principal amount of the Film Library Facility is $161.9 million, subject to the amount of collateral available, which is based on the valuation of cash flows from the libraries. The cash flows generated from the exploitation of the rights will be applied to repay the Film Library Facility subject to cumulative minimum guaranteed payment amounts as set forth below: Cumulative Period From September 29, 2022 Through: Cumulative Minimum Guaranteed Payment Amounts Payment Due Date (in millions) September 30, 2025 $91.1 November 14, 2025 September 30, 2026 $121.4 November 14, 2026 July 30, 2027 $161.9 July 30, 2027 Advances under the Film Library Facility bear interest at a rate equal to, at the Company’s option, SOFR plus 0.11% to 0.26% depending on the SOFR term (i.e., one or three months) plus 2.25% per annum (with a SOFR floor of 0.25%) or the base rate plus 1.25% per annum (effective interest rate of 6.75% at December 31, 2024). The Film Library Facility matures on July 30, 2027. Backlog Facility and Other: Backlog Facility. In March 2022, as amended in August 2022, certain subsidiaries of the Company entered into a committed secured revolving credit facility (the “Backlog Facility”) based on and secured by collateral consisting solely of certain of the Company’s fixed fee or minimum guarantee contracts where cash will be received in the future. The maximum principal amount of the Backlog Facility is $175.0 million, subject to the amount of eligible collateral contributed to the facility. Advances under the Backlog Facility bear interest at a rate equal to Term SOFR plus 0.10% to 0.25% depending on the SOFR term (i.e., one, three or six months), plus an applicable margin amounting to 1.15% per annum. The applicable margin is subject to a potential increase to either 1.25% or 1.50% based on the weighted average credit quality rating of the collateral contributed to the facility (effective interest rate of 5.58% at December 31, 2024). The Backlog Facility revolving period ends on May 16, 2025, at which point cash collections from the underlying collateral is used to repay the facility. The facility maturity date is up to two years, 90 days after the revolving period ends, currently August 14, 2027. As of December 31, 2024, there was $151.9 million outstanding under the Backlog Facility, and there were no amounts available under the Backlog Facility (March 31, 2024 - $175.0 million outstanding). Other. The Company has other loans, which are secured by accounts receivable and contracted receivables which are not yet recognized as revenue under certain licensing agreements. Outstanding loan balances under these “other” loans must be repaid with any cash collections from the underlying collateral if and when received by the Company, and may be voluntarily repaid at any time without prepayment penalty fees. As of December 31, 2024, there was $27.1 million outstanding (March 31, 2024 - $112.3 million outstanding,) under the “other” loans, incurring SOFR-based interest at a weighted average rate of 5.76%, with a contractual repayment date in July 2025. As of December 31, 2024, accounts receivable amounting to $20.8 million and contracted receivables not yet reflected as accounts receivable on the balance sheet at December 31, 2024 amounting to $11.0 million represented collateral related to the "other" loans. Lionsgate Film Related Obligations

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements Fair Value Accounting guidance and standards about fair value define fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair Value Hierarchy Fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The accounting guidance and standards establish three levels of inputs that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of December 31, 2024 and March 31, 2024: December 31, 2024 March 31, 2024 Level 1 Level 2 Total Level 1 Level 2 Total Assets: (Amounts in millions) Forward exchange contracts (see Note 18) $ — $ 1.9 $ 1.9 $ — $ — $ — Interest rate swaps (see Note 18) — 0.7 0.7 — 35.6 35.6 Liabilities: Forward exchange contracts (see Note 18) — — — — (2.8) (2.8) Interest rate swaps (see Note 18) — — — — — — The following table sets forth the carrying values and fair values of the Company’s outstanding debt and film related obligations at December 31, 2024 and March 31, 2024: December 31, 2024 March 31, 2024 (Amounts in millions) Carrying Fair Value (1) Carrying Value Fair Value (1) (Level 2) (Level 2) Intercompany Revolver $ 134.4 $ 134.4 $ — $ — LGTV Revolver 386.8 390.0 569.9 575.0 LGTV Term Loan A 313.1 313.6 396.6 397.3 LGTV Term Loan B — — 816.9 818.1 eOne IP Credit Facility 325.8 331.5 — — LG IP Credit Facility 836.0 850.0 — — Production Loans 1,342.3 1,346.0 1,286.2 1,292.2 Production Tax Credit Facility 257.7 257.8 258.7 260.0 Backlog Facility and Other 178.6 179.0 285.4 287.3 Film Library Facility 85.7 87.5 107.6 109.9 ________________ (1) The Company measures the fair value of its outstanding debt and interest rate swaps using discounted cash flow techniques that use observable market inputs, such as SOFR-based yield curves, swap rates, and credit ratings (Level 2 measurements). The Company’s financial instruments also include cash and cash equivalents, accounts receivable, accounts payable, content related payables, other accrued liabilities, other liabilities, and borrowings under Lionsgate’s revolving credit facility prior to the Separation, if any. The carrying values of these financial instruments approximated the fair values at December 31, 2024 and March 31, 2024.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
Noncontrolling Interests	10. Noncontrolling Interests Redeemable Noncontrolling Interests Redeemable noncontrolling interests (included in temporary equity on the consolidated balance sheets) primarily relate to 3 Arts Entertainment and Pilgrim Media Group, as further described below. Redeemable noncontrolling interests are measured at the greater of (i) the redemption amount that would be paid if settlement occurred at the balance sheet date less the amount attributed to unamortized noncontrolling interest discount if applicable, or (ii) the historical value resulting from the original acquisition date value plus or minus any earnings or loss attribution, plus the amount of amortized noncontrolling interest discount, less the amount of cash distributions that are not accounted for as compensation, if any. The amount of the redemption value in excess of the historical values of the noncontrolling interest, if any, is recognized as an increase to redeemable noncontrolling interest and a charge to retained earnings or accumulated deficit. The table below presents the reconciliation of changes in redeemable noncontrolling interests: Nine Months Ended December 31, 2024 2023 (Amounts in millions) Beginning balance $ 123.3 $ 343.6 Net loss attributable to redeemable noncontrolling interests (1.6) (7.3) Adjustments to redemption value 0.9 71.5 Cash contributions (distributions) 0.5 (1.0) Purchase of noncontrolling interest (23.4) (0.6) Ending balance $ 99.7 $ 406.2 3 Arts Entertainment. During the fourth quarter of the year ended March 31, 2024 (in January 2024), the Company closed on the acquisition of an additional 25% of 3 Arts Entertainment representing approximately half of the noncontrolling interest for $194.1 million. In addition, the Company purchased certain profit interests held by certain managers and entered into certain option rights agreements, which replaced the put and call rights under the previous arrangement by providing noncontrolling interest holders the right to sell to the Company and the Company the right to purchase their remaining (24%) interest beginning in January 2027. At the completion of the purchase, a portion of the noncontrolling interest continued to be considered compensatory, as it was subject to forfeiture provisions upon termination of employment under certain circumstances, and the remaining portion represented the noncontrolling interest holders' fully vested equity interest. Under the new arrangement, the holders' right to sell their interest to the Company, and the Company's right to purchase the noncontrolling interest, are based on a formula-based amount (i.e., a fixed EBITDA multiple), subject to a minimum purchase price, rather than being based on fair value. Since the redemption features described above were based on a formula using a fixed multiple, the compensatory portion of the noncontrolling interest is now considered a liability award, and as a result, during the fourth quarter of fiscal 2024, approximately $93.2 million was reclassified from mezzanine equity to a liability, and is reflected in "other liabilities - non-current" in the consolidated balance sheet at March 31, 2024 and December 31, 2024. The redeemable noncontrolling interest balance related to 3 Arts Entertainment reflects the fully vested equity portion of the noncontrolling interest, which remains classified as redeemable noncontrolling interest outside of shareholders' equity on the Company's consolidated balance sheets due to the purchase and sale rights beginning in 2027 which were determined to be embedded in the noncontrolling interest, and are outside the control of the Company. The redeemable noncontrolling interest is being adjusted to its redemption value through accumulated deficit through the sale or purchase right date in January 2027. Subsequent to the January 2024 transactions noted above, changes in the carrying value of the redeemable noncontrolling interest are reflected in the calculation of basic and diluted net income or loss per common share attributable to Lionsgate Studios Corp. shareholders, if dilutive, or to the extent the adjustments represent recoveries of amounts previously reflected in the computation of basic and diluted net income or loss per common share attributable to Lionsgate Studios Corp. shareholders (see Note 12). The liability component of the noncontrolling interest is reflected at its estimated redemption value, with any changes in estimated redemption value recognized as a charge or benefit in general and administrative expense in the consolidated statements of operations over the vesting period (i.e., the period from January 2, 2024 to the sale or purchase right date in January 2027). Earned distributions continue to be accounted for as compensation since such amounts are allocated to the holders based on performance, and are being expensed within general and administrative expense as incurred. Pilgrim Media Group. In July 2024, the Company acquired the noncontrolling interest holder’s remaining 12.5% of Pilgrim Media Group for approximately $13.5 million, and recorded a reduction to redeemable noncontrolling interest of $23.4 million, representing the carrying value of the noncontrolling interest purchased, with the difference between the carrying value of the noncontrolling interest purchased and the cash paid for the remaining interest recorded as a reduction to accumulated deficit of $9.9 million. Prior to the Company’s acquisition of the remaining interest, the noncontrolling interest was presented as a redeemable noncontrolling interest outside shareholders’ equity on the Company’s consolidated balance sheets, due to put and call options which were determined to be embedded in the noncontrolling interest, and because the put rights were outside the control of the Company. Other. The Company has other immaterial redeemable noncontrolling interests. Other Noncontrolling Interests Other. In connection with the Company's investment in CP LG and acquisition of the acquired library and related assets and liabilities discussed in Note 3, on June 5, 2024, the Company recorded a noncontrolling interest representing approximately 49% of CP LG amounting to $33.6 million ($29.8 million at December 31, 2024). See Note 3 for further information. In addition, the Company has other immaterial noncontrolling interests that are not redeemable.

Revenue

Revenue	9 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	11. Revenue Revenue by Segment, Market or Product Line The table below presents revenues by segment, market or product line for the three and nine months ended December 31, 2024 and 2023. The Motion Picture and Television Production segments include the revenues of eOne from the acquisition date of December 27, 2023 (see Note 3). Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Revenue by Type: Motion Picture Theatrical $ 35.0 $ 100.1 $ 91.1 $ 194.2 Home Entertainment Digital Media 145.7 155.5 400.3 495.3 Packaged Media 16.0 21.0 37.8 63.0 Total Home Entertainment 161.7 176.5 438.1 558.3 Television 38.3 65.3 235.0 214.5 International 68.3 94.7 284.3 255.3 Other 5.9 6.6 14.8 23.3 Total Motion Picture revenues (1) 309.2 443.2 1,063.3 1,245.6 Television Production Television 259.9 182.3 733.1 554.2 International 59.3 32.1 144.8 137.7 Home Entertainment Digital Media 55.5 17.4 108.7 113.4 Packaged Media 1.7 0.3 3.0 1.0 Total Home Entertainment 57.2 17.7 111.7 114.4 Other 28.2 16.3 72.9 54.4 Total Television Production revenues (2) 404.6 248.4 1,062.5 860.7 Total revenues $ 713.8 $ 691.6 $ 2,125.8 $ 2,106.3 ________________ (1) Total Motion Picture revenues for the three months ended December 31, 2024 and 2023 includes $9.9 million and $36.6 million, respectively, of revenues from licensing Motion Picture segment product to the Starz Business. Total Motion Picture revenues for the nine months ended December 31, 2024 and 2023 includes $146.2 million and $113.7 million, respectively, of revenues from licensing Motion Picture segment product to the Starz Business. (2) Total Television Production revenues for the three months ended December 31, 2024 and 2023 includes $77.9 million and $97.1 million, respectively, of revenues from licensing Television Production segment product to the Starz Business. Total Television Production revenues for the nine months ended December 31, 2024 and 2023 includes $267.3 million and $308.4 million, respectively, of revenues from licensing Television Production segment product to the Starz Business. Remaining Performance Obligations Remaining performance obligations represent deferred revenue on the balance sheet plus fixed fee or minimum guarantee contracts where the revenue will be recognized and the cash received in the future (i.e., backlog). Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at December 31, 2024 are as follows: Rest of Year Ending March 31, Year Ending March 31, 2025 2026 2027 Thereafter Total (Amounts in millions) Remaining Performance Obligations $ 618.4 $ 783.7 $ 184.9 $ 139.0 $ 1,726.0 The above table does not include estimates of variable consideration for transactions involving sales or usage-based royalties in exchange for licenses of intellectual property. The revenues included in the above table include all fixed fee contracts regardless of duration. Revenues of $46.3 million and $204.2 million, respectively, including variable and fixed fee arrangements, were recognized during the three and nine months ended December 31, 2024, from performance obligations satisfied prior to March 31, 2024. These revenues were primarily associated with the distribution of television and theatrical product in electronic sell-through and video-on-demand formats, and to a lesser extent, the distribution of theatrical product in the domestic and international markets related to films initially released in prior periods. Accounts Receivable, Contract Assets and Deferred Revenue The timing of revenue recognition, billings and cash collections affects the recognition of accounts receivable, contract assets and deferred revenue. See the unaudited condensed consolidated balance sheets or Note 19 for accounts receivable, contract assets and deferred revenue balances at December 31, 2024 and March 31, 2024. Accounts Receivable. Accounts receivable are presented net of a provision for doubtful accounts. The Company estimates provisions for accounts receivable based on historical experience for the respective risk categories and current and future expected economic conditions. To assess collectability, the Company analyzes market trends, economic conditions, the aging of receivables and customer specific risks, and records a provision for estimated credit losses expected over the lifetime of the receivables in direct operating expense. The Company performs ongoing credit evaluations and monitors its credit exposure through active review of customers’ financial condition, aging of receivable balances, historical collection trends, and expectations about relevant future events that may significantly affect collectability. The Company generally does not require collateral for its trade accounts receivable. Changes in the provision for doubtful accounts consisted of the following: March 31, 2024 (Benefit) provision for doubtful accounts Other (1) Uncollectible accounts written-off December 31, (Amounts in millions) Provision for doubtful accounts $ 6.4 $ (0.9) $ 2.5 $ (1.0) $ 7.0 _____________ (1) Represents a measurement period adjustment to the provision for doubtful accounts acquired in the acquisition of eOne (see Note 3). Contract Assets. Contract assets relate to the Company’s conditional right to consideration for completed performance under the contract (e.g., unbilled receivables). Amounts relate primarily to contractual payment holdbacks in cases in which the Company is required to deliver additional episodes or seasons of television content in order to receive payment, complete certain administrative activities, such as guild filings, or allow the Company’s customers’ audit rights to expire. See Note 19 for contract assets at December 31, 2024 and March 31, 2024. Deferred Revenue. Deferred revenue relates primarily to customer cash advances or deposits received prior to when the Company satisfies the corresponding performance obligation. Deferred revenue as of December 31, 2024 increased as compared to March 31, 2024 due to the receipt of customers’ payments for certain television programs and motion pictures prior to the Company satisfying the corresponding performance obligation (i.e., completion and delivery of the television programs and motion pictures, and the start of the customers’ exploitation rights). The change in deferred revenue was also impacted by the industry strikes which has affected the timing of content deliveries. Revenues of $12.0 million and $120.6 million, respectively, were recognized during the three and nine months ended December 31, 2024, related to the balance of deferred revenue at March 31, 2024.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	12. Net Income (Loss) Per Share Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period. Basic and diluted net income (loss) per share for the three and nine months ended December 31, 2024 and 2023 is presented below: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions, except per share amounts) Basic and Diluted Net Income (Loss) Per Common Share: Numerator: Net income (loss) attributable to Lionsgate Studios Corp. shareholders $ 6.4 $ (41.1) $ (150.4) $ (46.5) Accretion of redeemable noncontrolling interest (0.3) — (1.0) — Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest $ 6.1 $ (41.1) $ (151.4) $ (46.5) Denominator: Weighted average common shares outstanding 288.7 253.4 283.3 253.4 Basic and diluted net income (loss) per common share $ 0.02 $ (0.16) $ (0.53) $ (0.18) For periods prior to the Separation, basic net income (loss) per share and diluted net loss per share was calculated based on the 253.4 million shares issued to Lionsgate at the closing of the Business Combination. Additionally, for the three and nine months ended December 31, 2024 and 2023, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because they are contingently issuable upon certain vesting criteria that have not been met as of the reporting period. Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) SEAC Sponsor Options 2.2 — 2.2 —

Capital Stock

Capital Stock	9 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Capital Stock	13. Capital Stock (a) Common Shares The Company has an unlimited number of authorized shares following the closing of the Business Combination and at December 31, 2024. As of December 31, 2024, common shares reserved for future issuance include SEAC Sponsor Options described below. As of March 31, 2024 and prior to the Business Combination, the Company was wholly-owned by Lionsgate. (b) SEAC Sponsor Options In connection with the Business Combination, 2,200,000 SEAC Sponsor Options to receive LG Studios Common Shares pursuant to the Sponsor Option Agreement, as described in Note 2, were issued and have an exercise price of $0.0001 per share. The SEAC Sponsor Options will become exercisable (i) on or after the date on which the trading price of LG Studios Common Shares (as adjusted for share splits, share dividends, reorganizations, recapitalizations and the like) equals or exceeds $16.05 per share or (ii) if a Change of Control (as defined in the Sponsor Option Agreement) occurs, subject to certain conditions. The SEAC Sponsor Options are not considered compensatory nor were they granted in exchange for a good or service. The SEAC Sponsor Options meet the requirements for equity classification because they are considered to be indexed to LG Studios Common Shares and are classified in shareholders’ equity. The Company has recorded the SEAC Sponsor Options to equity at closing of the Business Combination in connection with the reverse recapitalization accounting described at Note 2. (c) Lionsgate Share-based Compensation As described in Note 1, the Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of the Company receive awards of equity and equity-based compensation pursuant to the existing equity incentive plan of Lionsgate, the Lions Gate Entertainment Corp. 2023 Performance Incentive Plan (the “2023 Lionsgate Plan”). Such awards will be treated as a capital contribution by Lionsgate to the Company, and the stock based compensation expenses for such awards will be allocated to the Company Prior to the Separation, the unaudited condensed consolidated financial statements included an allocation of share-based compensation expense attributable to corporate and shared service functions. The following disclosures of unit data are based on grants related directly to Company employees and Lionsgate corporate and shared employees, and exclude unit data related to employees of the Starz Business. The Company recognized the following share-based compensation expense during the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Compensation Expense: Stock options $ 0.2 $ 0.4 $ 0.6 $ 1.4 Restricted share units and other share-based compensation 13.9 12.2 30.3 32.6 Share appreciation rights 0.2 0.1 0.5 0.2 Total Lionsgate Studios employee share-based compensation expense 14.3 12.7 31.4 34.2 Corporate allocation of share-based compensation — 4.5 10.8 12.1 14.3 17.2 42.2 46.3 Impact of accelerated vesting on equity awards (1) — 6.8 4.7 7.3 Total share-based compensation expense $ 14.3 $ 24.0 $ 46.9 $ 53.6 ___________________ (1) Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements prior to the Separation. Share-based compensation expense, by expense category, consisted of the following: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Share-Based Compensation Expense: General and administration $ 14.3 $ 17.2 $ 42.2 $ 46.3 Restructuring and other — 6.8 4.7 7.3 $ 14.3 $ 24.0 $ 46.9 $ 53.6 The following table sets forth the stock option, share appreciation rights (“SARs”), restricted stock and restricted share unit activity at Lionsgate for grants related directly to the Company employees and Lionsgate corporate and shared service employees during the nine months ended December 31, 2024: Stock Options and SARs Restricted Stock and Restricted Share Units Lions Gate Class A Voting Shares Lions Gate Class B Non-Voting Shares Lions Gate Class A Voting Shares Lions Gate Class B Non-Voting Shares Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Grant-Date Fair Value Number of Shares Weighted-Average Grant-Date Fair Value (Number of shares in millions) Outstanding at March 31, 2024 2.4 $ 22.96 17.1 $ 13.92 0.1 $ 9.27 9.8 $ 8.93 Granted — — — (1) $ 7.12 0.1 $ 8.20 8.1 $ 7.98 Options exercised or restricted stock or RSUs vested — — (0.1) $ 5.50 (0.1) $ 9.20 (5.8) $ 8.79 Forfeited or expired (0.1) $ 20.26 (2.2) $ 14.64 — — (0.6) $ 8.52 Outstanding at December 31, 2024 2.3 $ 23.10 14.8 $ 13.86 0.1 $ 8.39 11.5 $ 8.20 _____________________ (1) Represents less than 0.1 million shares.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes In connection with the Business Combination, on May 13, 2024, the Company and Lionsgate entered into a tax matters agreement (the “Tax Matters Agreement”) that governs the parties’ respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, certain indemnification rights with respect to tax matters, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes. For periods prior to the Business Combination (including the period from April 1, 2024, through May 13, 2024), income taxes were calculated on a separate tax return basis. The separate tax return method applies the accounting guidance for income taxes to the standalone financial statements as if the Company was a separate taxpayer and standalone enterprise. The Company’s U.S. operations, and certain of its non-U.S. operations historically were included in the income tax returns of Lionsgate or its subsidiaries that may not be part of the Company. Management believes the assumptions supporting the Company’s allocation and presentation of income taxes on a separate tax return basis to be reasonable. For periods following the Business Combination (including the period from May 14, 2024, through December 31, 2024), income taxes were calculated by applying an estimated effective income tax rate to the Company’s ordinary income (loss), adjusted for the income tax effects of items that related discretely to the period, if any. The Company’s income tax expense for the three and nine months ended December 31, 2024 and 2023 differed from the U.S. federal statutory corporate income tax rate of 21% multiplied by income (loss) before taxes due to the mix of earnings across the various jurisdictions in which operations are conducted, changes in valuation allowances against deferred tax assets,

Restructuring and Other

Restructuring and Other	9 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other	15. Restructuring and Other Restructuring and other includes restructuring and severance costs and certain transaction and other costs, when applicable. During the three and nine months ended December 31, 2024 and 2023, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the consolidated statements of operations and are described below. The following table sets forth restructuring and other and these other unusual charges or benefits and the statement of operations line items they are included in for the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Restructuring and other: Content and other impairments (1) $ 7.3 $ — $ 25.8 $ — Severance (2) 20.3 28.1 24.6 31.6 Transaction and other costs (3) 13.3 24.4 25.4 29.9 Total Restructuring and Other 40.9 52.5 75.8 61.5 Other unusual charges not included in restructuring and other or the Company’s operating segments: COVID-19 related charges (benefit) included in direct operating expense (4) — — (2.1) (0.5) Unallocated rent cost included in direct operating expense (5) 4.1 — 14.6 — Total restructuring and other and other unusual charges not included in restructuring and other $ 45.0 $ 52.5 $ 88.3 $ 61.0 _______________________ (1) Amounts in the three and nine months ended December 31, 2024 include content impairments of $7.3 million related to the Motion Picture and Television Production segments associated with exiting local production in certain international territories. Amounts in the nine months ended December 31, 2024 also include impairments of certain operating lease right-of-use and leasehold improvement assets related to the Television Production segment associated with facility leases that will no longer be utilized by the Company primarily related to the integration of eOne. (2) Severance costs were primarily related to restructuring, acquisition integration activities and other cost-saving initiatives. During the quarter ended December 31, 2024, in connection with the Company's current restructuring plan, approximately 8% of its eligible U.S. employees elected to take advantage of voluntary severance and early retirement packages. A total of approximately $26.1 million in severance expense is expected to be incurred under the voluntary severance program, of which $14.6 million of severance expense was recognized in restructuring and other in the three and nine months ended December 31, 2024, and the remaining amount is expected to be recognized in the fourth quarter ended March 31, 2025. In the three and nine months ended December 31, 2023, amounts were due to restructuring activities including integration of the acquisition of eOne, and our Motion Picture and Television Production segments. (3) Transaction and other costs in the three and nine months ended December 31, 2024 and 2023 reflect transaction, integration and legal costs associated with certain strategic transactions, and restructuring activities and also include costs and benefits associated with legal and other matters. In addition, transaction and other costs in the three and nine months ended December 31, 2023 includes approximately $16.6 million of a loss associated with a theft at a production of a 51% owned consolidated entity. The Company expects to recover a portion of this amount under its insurance coverage and from the noncontrolling interest holders of this entity. (4) Amounts include incremental costs incurred, if any, due to circumstances associated with the COVID-19 global pandemic, net of insurance recoveries of nil and $2.1 million in the three and nine months ended December 31, 2024, respectively (three and nine months ended December 31, 2023 - insurance recoveries of $0.1 million and $0.6 million, respectively). In the nine months ended December 31, 2024 and the three and nine months ended December 31, 2023, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense. (5) Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments. Changes in the restructuring and other severance liability were as follows for the nine months ended December 31, 2024 and 2023: Nine Months Ended December 31, 2024 2023 (Amounts in millions) Severance liability Beginning balance $ 19.3 $ 3.7 Accruals (2) 19.9 24.3 Severance payments (16.0) (5.4) Ending balance (1) $ 23.2 $ 22.6 _______________________ (1) As of December 31, 2024, the remaining severance liability of approximately $23.2 million is expected to be paid in the next 12 months. (2) Excludes $4.7 million and $7.3 million in the nine months ended December 31, 2024 and 2023, respectively, of accelerated vesting on equity awards.

Segment Information

Segment Information	9 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	16. Segment Information The Company’s reportable segments have been determined based on the distinct nature of their operations, the Company’s internal management structure, and the financial information that is evaluated regularly by the Company’s chief operating decision maker. The Company has two reportable business segments: (1) Motion Picture and (2) Television Production. Motion Picture. Motion Picture consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired. Television Production. Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series, and non-fiction programming. Television Production includes the licensing of Starz original series productions to the Starz Business, and the ancillary market distribution of Starz original productions and licensed product. Additionally, the Television Production segment includes the results of operations of 3 Arts Entertainment. Segment information is presented in the table below. The Motion Picture and Television Production segments include the results of operations of eOne from the acquisition date of December 27, 2023 (see Note 3). Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Segment revenues Motion Picture $ 309.2 $ 443.2 $ 1,063.3 $ 1,245.6 Television Production 404.6 248.4 1,062.5 860.7 Total revenue $ 713.8 $ 691.6 $ 2,125.8 $ 2,106.3 Gross contribution Motion Picture $ 106.0 $ 127.5 $ 246.1 $ 320.3 Television Production 75.4 21.6 145.3 134.6 Total gross contribution 181.4 149.1 391.4 454.9 Segment general and administration Motion Picture 22.4 27.1 73.6 83.2 Television Production 14.5 13.5 49.3 40.5 Total segment general and administration 36.9 40.6 122.9 123.7 Segment profit Motion Picture 83.6 100.4 172.5 237.1 Television Production 60.9 8.1 96.0 94.1 Total segment profit $ 144.5 $ 108.5 $ 268.5 $ 331.2 The Company’s primary measure of segment performance is segment profit. Segment profit is defined as gross contribution (revenues, less direct operating and distribution and marketing expense) less segment general and administration expenses. Segment profit excludes, when applicable, corporate and allocated general and administrative expense, restructuring and other costs, share-based compensation, certain charges related to the COVID-19 global pandemic, and purchase accounting and related adjustments. The Company believes the presentation of segment profit is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company’s management and enables them to understand the fundamental performance of the Company’s businesses. The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Company’s total segment profit $ 144.5 $ 108.5 $ 268.5 $ 331.2 Corporate general and administrative expenses (1) (28.4) (25.2) (87.6) (76.2) Adjusted depreciation and amortization (2) (3.4) (1.8) (10.1) (7.1) Restructuring and other (40.9) (52.5) (75.8) (61.5) COVID-19 related benefit (charges) included in direct operating expense (3) — — 2.1 0.5 Content charges (4) — (0.3) — (1.1) Unallocated rent cost included in direct operating expense (5) (4.1) — (14.6) — Adjusted share-based compensation expense (6) (14.3) (17.2) (42.2) (46.3) Purchase accounting and related adjustments (7) (3.8) (4.2) (9.8) (19.4) Operating income 49.6 7.3 30.5 120.1 Interest expense (58.5) (55.5) (180.1) (157.1) Interest and other income 3.1 1.7 11.4 6.9 Other gains (losses), net 10.1 (0.6) (5.2) (14.3) Loss on extinguishment of debt (0.3) — (1.8) — Gain on investments, net — 4.4 — 2.7 Equity interests income 7.6 4.2 8.5 5.7 Income (loss) before income taxes $ 11.6 $ (38.5) $ (136.7) $ (36.0) __ _________________ (1) Corporate general and administrative expenses reflect the allocations of certain general and administrative expenses from Lionsgate related to certain corporate and shared service functions historically provided by Lionsgate, including, but not limited to, executive oversight, accounting, tax, legal, human resources, occupancy, and other shared services (see Note 1 and Note 20). Amount excludes allocation of share-based compensation expense discussed below. The costs included in corporate general and administrative expenses represent certain corporate executive expense (such as salaries and wages for the office of the Chief Executive Officer, Chief Financial Officer, General Counsel and other corporate officers), investor relations costs, costs of maintaining corporate facilities, and other unallocated common administrative support functions, including corporate accounting, finance and financial reporting, internal and external audit and tax costs, corporate and other legal support functions, and certain information technology and human resources expense. (2) Adjusted depreciation and amortization represents depreciation and amortization as presented on the unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Depreciation and amortization $ 4.4 $ 3.0 $ 13.2 $ 11.1 Less: Amount included in purchase accounting and related adjustments (1.0) (1.2) (3.1) (4.0) Adjusted depreciation and amortization $ 3.4 $ 1.8 $ 10.1 $ 7.1 (3) Amounts represent the incremental costs, if any, included in direct operating expense resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries (see Note 15). These benefits (charges) are excluded from segment operating results. (4) Content charges represent certain charges included in direct operating expense in the unaudited condensed consolidated statements of operations, and excluded from segment operating results. (5) Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments. (6) The following table reconciles total share-based compensation expense to adjusted share-based compensation expense: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Total share-based compensation expense $ 14.3 $ 24.0 $ 46.9 $ 53.6 Less: Amount included in restructuring and other (i) — (6.8) (4.7) (7.3) Adjusted share-based compensation $ 14.3 $ 17.2 $ 42.2 $ 46.3 (i) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. (7) The following sets forth the amounts included in each line item in the financial statements: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Purchase accounting and related adjustments: General and administrative expense (i) $ 2.8 $ 3.0 $ 6.7 $ 15.4 Depreciation and amortization 1.0 1.2 3.1 4.0 $ 3.8 $ 4.2 $ 9.8 $ 19.4 (i) These adjustments include the expense associated with the noncontrolling equity interests in the distributable earnings related to 3 Arts Entertainment, and the amortization of the recoupable portion of the purchase price ($1.3 million through May 2023) related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The noncontrolling equity interest in the distributable earnings of 3 Arts Entertainment are reflected as an expense rather than noncontrolling interest in the unaudited condensed consolidated statements of operations due to the relationship to continued employment. See Note 11 for revenues by media or product line as broken down by segment for the three and nine months ended December 31, 2024 and 2023. The following table reconciles segment general and administration expense to the Company’s total consolidated general and administration expense: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) General and administration Segment general and administrative expenses $ 36.9 $ 40.6 $ 122.9 $ 123.7 Corporate general and administrative expenses 28.4 25.2 87.6 76.2 Share-based compensation expense included in general and administrative expense 14.3 17.2 42.2 46.3 Purchase accounting and related adjustments 2.8 3.0 6.7 15.4 $ 82.4 $ 86.0 $ 259.4 $ 261.6 The reconciliation of total segment assets to the Company’s total consolidated assets is as follows: December 31, 2024 March 31, 2024 (Amounts in millions) Assets Motion Picture $ 1,916.8 $ 1,851.4 Television Production 2,555.6 2,347.8 Other unallocated assets (1) 902.1 903.8 $ 5,374.5 $ 5,103.0 _____________________ (1) Other unallocated assets primarily consist of cash, other assets and investments.

Contingencies

Contingencies	9 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	17. Contingencies From time to time, the Company is involved in certain claims and legal proceedings arising in the normal course of business. The Company establishes an accrued liability for claims and legal proceedings when the Company determines that a loss is both probable and the amount of the loss can be reasonably estimated. Once established, accruals are adjusted from time to time, as appropriate, in light of additional information. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the amounts accrued for such matters.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	18. Derivative Instruments and Hedging Activities Forward Foreign Exchange Contracts The Company enters into forward foreign exchange contracts to hedge its foreign currency exposures on future production expenses and tax credit receivables denominated in various foreign currencies (i.e., cash flow hedges). The Company also enters into forward foreign exchange contracts that economically hedge certain of its foreign currency risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company monitors its positions with, and the credit quality of, the financial institutions that are party to its financial transactions. Changes in the fair value of the foreign exchange contracts that are designated as hedges are reflected in accumulated other comprehensive income (loss), and changes in the fair value of foreign exchange contracts that are not designated as hedges and do not qualify for hedge accounting are recorded in direct operating expense. Gains and losses realized upon settlement of the foreign exchange contracts that are designated as hedges are amortized to direct operating expense on the same basis as the production expenses being hedged. As of December 31, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 16 months from December 31, 2024): December 31, 2024 Foreign Currency Foreign Currency Amount US Dollar Amount Weighted Average Exchange Rate Per $1 USD (Amounts in millions) (Amounts in millions) British Pound Sterling 0.2 GBP in exchange for $ 0.3 0.77 GBP Czech Koruna 180.0 CZK in exchange for $ 7.7 23.29 CZK Euro 13.9 EUR in exchange for $ 14.6 0.94 EUR Canadian Dollar 8.5 CAD in exchange for $ 6.2 1.37 CAD Mexican Peso 20.7 MXN in exchange for $ 1.0 20.43 MXN Hungarian Forint 5,612.8 HUF in exchange for $ 15.0 373.74 HUF New Zealand Dollar 2.7 NZD in exchange for $ 1.7 1.67 NZD Interest Rate Swaps The Company is exposed to the impact of interest rate changes, primarily through its borrowing activities. The Company’s objective is to mitigate the impact of interest rate changes on earnings and cash flows. The Company primarily uses pay-fixed interest rate swaps to facilitate its interest rate risk management activities, which the Company generally designates as cash flow hedges of interest payments on floating-rate borrowings. Pay-fixed swaps effectively convert floating-rate borrowings to fixed-rate borrowings. The unrealized gains or losses from these designated cash flow hedges are deferred in accumulated other comprehensive income (loss) and recognized in interest expense as the interest payments occur. Changes in the fair value of interest rate swaps that are not designated as hedges are recorded in interest expense (see further explanation below). Cash settlements related to interest rate contracts are generally classified as operating activities on the consolidated statements of cash flows. In connection with the Separation, Business Combination and Intercompany Note described in Note 7, the Company assumed the rights, obligations, costs and benefits associated with and provided under the terms of Lionsgate’s floating-to-fixed swap contracts. Designated Cash Flow Hedges. As of March 31, 2024, the Company had the following pay-fixed interest rate swaps, which were designated as cash flow hedges outstanding (all related to the Company’s SOFR-based debt, see Note 7 and Note 8) and were terminated in December 2024, as further described below. Designated Cash Flow Hedges at March 31, 2024: Effective Date Notional Amount Fixed Rate Paid Maturity Date (in millions) May 23, 2018 $300.0 2.915% March 24, 2025 May 23, 2018 $700.0 2.915% March 24, 2025 June 25, 2018 $200.0 2.723% March 23, 2025 July 31, 2018 $300.0 2.885% March 23, 2025 December 24, 2018 $50.0 2.744% March 23, 2025 December 24, 2018 $100.0 2.808% March 23, 2025 December 24, 2018 $50.0 2.728% March 23, 2025 Total $1,700.0 In December 2024, the Company terminated all of its pay-fixed interest rate swaps which were outstanding at March 31, 2024, as shown in the table above. As a result of the termination, the Company received approximately $9.4 million, which was recorded as a reduction of the interest rate swap asset values, and represents the amount of unrealized gains recorded in accumulated other comprehensive income related to the terminated interest rate swaps which will be amortized as a reduction of interest expense through the remaining term of the terminated swaps unless it becomes probable that the cash flows originally hedged will not occur, in which case the proportionate amount of the gain will be recorded to interest expense at that time. The receipt of approximately $9.4 million was classified in the consolidated statement of cash flows as cash provided by operating activities. During the nine months ended December 31, 2024, the Company entered into the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company's SOFR-based debt, see Note 7 and Note 8). Designated Cash Flow Hedges at December 31, 2024: Effective Date Notional Amount Fixed Rate Paid Maturity Date (in millions) August 15, 2024 $65.0 4.045% September 15, 2026 August 15, 2024 $77.5 3.803% August 15, 2026 August 15, 2024 $77.5 3.810% September 15, 2026 December 15, 2024 $125.0 3.970% December 15, 2026 Total $345.0 Financial Statement Effect of Derivatives Unaudited condensed consolidated statements of operations and comprehensive income (loss): The following table presents the pre-tax effect of the Company’s derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts Gain (loss) recognized in accumulated other comprehensive income (loss) $ 2.4 $ (4.3) $ 3.5 $ (7.3) Loss reclassified from accumulated other comprehensive income (loss) into direct operating expense $ (0.1) $ (2.6) $ (1.2) $ (2.5) Interest rate swaps Gain (loss) recognized in accumulated other comprehensive income (loss) $ 1.6 $ (11.7) $ (1.1) $ 24.7 Gain reclassified from accumulated other comprehensive income (loss) into interest expense $ 2.0 $ 11.4 $ 24.3 $ 31.5 Derivatives not designated as cash flow hedges: Interest rate swaps Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense $ 1.4 $ (1.8) $ (1.7) $ (5.5) Total direct operating expense on consolidated statements of operations $ 457.1 $ 433.6 $ 1,440.9 $ 1,306.0 Total interest expense on consolidated statements of operations $ 58.5 $ 55.5 $ 180.1 $ 157.1 Unaudited condensed consolidated balance sheets: The Company classifies its forward foreign exchange contracts and interest rate swap agreements within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments (see Note 9). Pursuant to the Company’s accounting policy to offset the fair value amounts recognized for derivative instruments, the Company presents the asset or liability position of the swaps that are with the same counterparty under a master netting arrangement net as either an asset or liability in its unaudited condensed consolidated balance sheets. As of December 31, 2024 and March 31, 2024, there were no swaps outstanding that were subject to a master netting arrangement. As of December 31, 2024 and March 31, 2024, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company’s use of derivatives: December 31, 2024 Other Current Assets Other Non-Current Assets Other Accrued Liabilities (current) (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 1.9 $ — $ — Interest rate swaps — 0.7 — Fair value of derivatives $ 1.9 $ 0.7 $ — March 31, 2024 Other Current Assets Other Accrued Liabilities (current) (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ — $ 2.8 Interest rate swaps 35.6 — Fair value of derivatives $ 35.6 $ 2.8 As of December 31, 2024, based on the current release schedule, the Company estimates approximately $1.3 million of gains associated with forward foreign exchange contract cash flow hedges in accumulated other comprehensive income (loss) will be reclassified into earnings during the one-year period ending December 31, 2025.

Additional Financial Informatio

Additional Financial Information	9 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Information	19. Additional Financial Information The following tables present supplemental information related to the unaudited condensed consolidated financial statements. Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the total amounts reported in the unaudited condensed consolidated statements of cash flows at December 31, 2024 and March 31, 2024. At December 31, 2024 and March 31, 2024, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with certain corporate debt and film related obligations. December 31, 2024 March 31, 2024 (Amounts in millions) Cash and cash equivalents $ 186.2 $ 277.0 Restricted cash included in other current assets 42.8 43.7 Restricted cash included in other non-current assets 10.8 13.7 Total cash, cash equivalents and restricted cash $ 239.8 $ 334.4 Accounts Receivable Monetization Under the Company’s accounts receivable monetization programs, the Company has entered into (1) individual agreements to monetize certain of its trade accounts receivable directly with third-party purchasers and (2) a revolving agreement to monetize designated pools of trade accounts receivable with various financial institutions, as further described below. Under these programs, the Company transfers receivables to purchasers in exchange for cash proceeds, and the Company continues to service the receivables for the purchasers. The Company accounts for the transfers of these receivables as a sale, removes (derecognizes) the carrying amount of the receivables from its balance sheets and classifies the proceeds received as cash flows from operating activities in the statements of cash flows. The Company records a loss on the sale of these receivables reflecting the net proceeds received (net of any obligations incurred), less the carrying amount of the receivables transferred. The loss is reflected in the “other gains (losses), net” line item on the unaudited condensed consolidated statements of operations. The Company receives fees for servicing the accounts receivable for the purchasers, which represent the fair value of the services and were immaterial for the three and nine months ended December 31, 2024 and 2023. Individual Monetization Agreements. The Company enters into individual agreements to monetize trade accounts receivable. The third-party purchasers have no recourse to other assets of the Company in the event of non-payment by the customers. The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Carrying value of receivables transferred and derecognized $ 51.7 $ 85.3 $ 345.5 $ 385.8 Net cash proceeds received 50.0 81.8 335.7 370.7 Loss recorded related to transfers of receivables 1.7 3.5 9.8 15.1 At December 31, 2024, the outstanding amount of receivables derecognized from the Company’s unaudited condensed consolidated balance sheets, but which the Company continues to service, related to the Company’s individual agreements to monetize trade accounts receivable was $399.6 million (March 31, 2024 - $449.2 million). Pooled Monetization Agreement. In December 2019, the Company entered into a revolving agreement, as amended in July 2023, to transfer up to $100.0 million of certain receivables to various financial institutions on a recurring basis in exchange for cash equal to the gross receivables transferred, which matured on October 1, 2023. As customers paid their balances, the Company would transfer additional receivables into the program. The transferred receivables were fully guaranteed by a bankruptcy-remote wholly-owned subsidiary of the Company. The third-party purchasers had no recourse to other assets of the Company in the event of non-payment by the customers. The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the nine months ended December 31, 2023: Nine Months Ended December 31, 2023 (Amounts in millions) Gross cash proceeds received for receivables transferred and derecognized $ 22.2 Less amounts from collections reinvested under revolving agreement (9.1) Proceeds from new transfers 13.1 Collections not reinvested and remitted or to be remitted (13.4) Net cash proceeds received (paid or to be paid) (1) $ (0.3) Carrying value of receivables transferred and derecognized (2) $ 22.1 Obligations recorded $ 2.1 Loss recorded related to transfers of receivables $ 2.0 ___________________ (1) During the three and nine months ended December 31, 2023, the Company voluntarily repurchased $46.0 million of receivables previously transferred. (2) Receivables net of unamortized discounts on long-term, non-interest bearing receivables. At December 31, 2024 and March 31, 2024, there were no outstanding receivables derecognized from the Company’s unaudited condensed consolidated balance sheet, for which the Company continues to service, related to the pooled monetization agreement. Other Assets The composition of the Company’s other assets is as follows as of December 31, 2024 and March 31, 2024: December 31, 2024 March 31, 2024 (Amounts in millions) Other current assets Prepaid expenses and other $ 38.0 $ 34.8 Restricted cash 42.8 43.7 Contract assets 72.5 59.9 Interest rate swap assets — 35.6 Tax credits receivable 140.7 199.1 $ 294.0 $ 373.1 Other non-current assets Prepaid expenses and other $ 16.9 $ 18.3 Restricted cash 10.8 13.7 Accounts receivable 48.0 111.7 Contract assets 10.3 3.2 Tax credits receivable 440.6 361.7 Operating lease right-of-use assets 300.1 344.3 Interest rate swap assets 0.7 — $ 827.4 $ 852.9 Content Related Payables Content related payables include minimum guarantees and accrued licensed program rights obligations, which represent amounts payable for film or television rights that the Company has acquired or licensed. Other Accrued Liabilities Other accrued liabilities include employee related liabilities (such as accrued bonuses and salaries and wages) of $40.7 million and $116.2 million at December 31, 2024 and March 31, 2024, respectively. Accumulated Other Comprehensive Income The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the nine months ended December 31, 2024 and 2023, there was no income tax expense or benefit reflected in other comprehensive income due to the income tax impact being offset by changes in the Company’s deferred tax valuation allowance. Foreign currency translation adjustments Net unrealized gain (loss) on cash flow hedges Total (Amounts in millions) March 31, 2024 $ (42.1) $ 138.8 $ 96.7 Other comprehensive income (loss) (12.8) 2.3 (10.5) Reclassifications to net loss (1) — (21.4) (21.4) December 31, 2024 $ (54.9) $ 119.7 $ 64.8 March 31, 2023 $ (41.1) $ 142.6 $ 101.5 Other comprehensive income (loss) 1.8 17.4 19.2 Reclassifications to net loss (1) — (23.5) (23.5) December 31, 2023 $ (39.3) $ 136.5 $ 97.2 __ _________________ (1) Represents a loss of $1.2 million included in direct operating expense and a gain of $22.6 million included in interest expense on the unaudited condensed consolidated statement of operations in the nine months ended December 31, 2024 (nine months ended December 31, 2023 - loss of $2.5 million included in direct operating expense and gain of $26.0 million included in interest expense) (see Note 18). Supplemental Cash Flow Information Significant non-cash transactions during the nine months ended December 31, 2024 and 2023 include certain interest rate swap agreements, which are discussed in Note 18, “Derivative Instruments and Hedging Activities”.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	20. Related Party Transactions In connection with the Separation and in the normal course of business, the Company enters into transactions with Lionsgate and the Starz Business which include the following, which unless otherwise indicated prior to the Separation were settled through parent net investment at the time of the transaction: Lionsgate corporate general and administrative expenses: As described in Note 1, in connection with the Business Combination, the Company and Lionsgate entered into the Shared Services Agreement which took effect upon the Closing. The Shared Services Agreement facilitates the allocation to the Company of all corporate general and administrative expenses of Lionsgate, except for an amount of $10.0 million to be allocated annually to Lionsgate. During the three and nine months ended December 31, 2024, $28.4 million and $87.6 million, respectively, of Lionsgate corporate general and administrative expenses, excluding amounts related to share-based compensation discussed below, were allocated to the Company. Of the total amount allocated to the Company during three and nine months ended December 31, 2024, $28.4 million and $73.4 million was allocated to the Company after the Separation pursuant to the Shared Services Agreement. Prior to the Separation, during the nine months ended December 31, 2024, $14.2 million of corporate expenses were allocated to the Company (three and nine months ended December 31, 2023 - $25.2 million and $76.2 million, respectively). Share- based compensation: The Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of LG Studios will continue to receive awards of equity and equity-based compensation pursuant to the existing equity incentive plans of Lionsgate. Such awards are treated as a capital contribution by Lionsgate to LG Studios, and the share-based compensation expense for such awards is allocated to LG Studios. Prior to the Separation, Lionsgate provided share-based compensation related to the Studio Business employees and as part of its corporate expense allocations a proportionate amount of the share-based compensation related to those corporate functions is allocated to the Studio Business. Licensing of content to the Starz Business: The Company licenses motion pictures and television programming (including Starz original productions) to the Starz Business. The license fees generally are due upon delivery or due at a point in time following the first showing. Prior to the Separation, license fee amounts due were settled with the Starz Business through parent net investment. License fees receivable, not yet due from the Starz Business, are reflected in due from the Starz Business on the unaudited condensed consolidated balance sheets. The consideration to which the Company is entitled under the license agreements with the Starz Business is included in revenue from contracts with customers and presented separately in the unaudited condensed consolidated statements of operations (see Note 11). Operating expense reimbursement: As previously described in Note 1, the Company pays certain expenses on behalf of the Starz Business such as certain rent expense, employee benefits, insurance and other administrative operating costs. The Starz Business also pays certain expenses on behalf of the Company such as legal expenses, software development costs and severance. See “Transactions with Lionsgate” below for further discussion of the settlement of these transactions. These expenditures are reflected in the financial statements of the Studio Business and the Starz Business as applicable. Monetization of certain accounts receivables: The Company had an agreement with Starz for Starz to transfer certain accounts receivables to the Company to participate in the Company’s pooled monetization arrangement, which matured on October 1, 2023. The Company purchased the transferred receivables at fair value and recorded them at the purchased amount on its balance sheet and classified the purchase price paid in parent net investment (see Note 19). The accounts receivables purchased from the Starz Business were historically pledged as collateral under this agreement. Any discount on the purchase of the receivable from the Starz Business was accreted to interest income over the period to collection of the accounts receivable. The accounts receivable purchased from the Starz Business and subsequent collections were reflected as investing activities in the unaudited condensed consolidated statements of cash flows. Transactions with Lionsgate Prior to the Separation, Lionsgate utilized a centralized approach to cash management. Cash generated by the Studio Business was managed by Lionsgate’s centralized treasury function and cash was routinely transferred to the Company or to the Starz Business to fund operating activities when needed. Payables to and receivables from Lionsgate, primarily related to the Starz Business, were often settled through movement to the intercompany accounts between Lionsgate, the Starz Business and the Studio Business. Other than certain specific balances related to unsettled payables or receivables, the intercompany balances between the Studio Business and Lionsgate were accounted for as parent net investment. Because of this centralized approach to cash management, financial transactions for cash movement and the settlement of payables and receivables when due with Lionsgate were generally accounted for through the parent net investment account. Settlements of amounts payable and receivable when due through the parent net investment account were reflected as cash payments or receipts for the applicable operating transaction within operating activities, with the net change in parent net investment included within financing activities in the unaudited condensed consolidated statements of cash flows. The net transfers to and from Lionsgate through the period prior to the Separation discussed above were as follows: Nine Months Ended December 31, 2024 2023 Cash pooling and general financing activities $ 88.8 $ (241.7) Licensing of content (1) 9.7 428.8 Corporate reimbursements (5.3) 5.9 Corporate expense allocations (excluding allocation of share-based compensation) 2.3 20.2 Funding of purchases of accounts receivables held for collateral — (85.6) Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows $ 95.5 $ 127.6 Share-based compensation (including allocation of share-based compensation) (6.0) (53.6) Other non-cash transfer (2) (33.7) 16.6 Net transfers to (from) Parent per unaudited condensed consolidated statements of equity (deficit) $ 55.8 $ 90.6 __ _________________ (1) Reflects the settlement of amounts due from the Starz Business related to the Company’s licensing arrangements with the Starz Business. (2) Includes a non-cash transfer of debt through Parent net investment of $35.0 million in connection with the Separation in the nine months ended December 31, 2024.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	21. Subsequent Events In January 2025, the Company entered into a $100.0 million notional, pay-fixed interest rate swap with a fixed rate of 4.060% and a maturity date of January 2027. The Company expects to designate this interest rate swap as a cash flow hedge (all related to the Company’s SOFR-based debt, see Note 7 and Note 8). In January and February 2025, the Company entered into amendments to the Production Tax Credit Facility which extended the maturity to January 27, 2028 and increased the maximum principal amount to $280.0 million.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$ 6.4	$ (41.1)	$ (150.4)	$ (46.5)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business, Basi_2

Description of Business, Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Separation and Business Combination	Separation and Business Combination On May 13, 2024, Lionsgate consummated the transactions contemplated by that certain business combination agreement (the “Business Combination Agreement”), with Screaming Eagle Acquisition Corp., a Cayman Islands exempted company (“SEAC”), SEAC II Corp., a Cayman Islands exempted company and a wholly-owned subsidiary of SEAC (“New SEAC”), LG Sirius Holdings ULC, a British Columbia unlimited liability company and a wholly-owned subsidiary of Lionsgate (“Studio HoldCo”), LG Orion Holdings ULC, a British Columbia unlimited liability company and wholly-owned subsidiary of Lionsgate (“StudioCo”), and other affiliates of SEAC. Pursuant to the terms and conditions of the Business Combination Agreement, the Studio Business was combined with SEAC through a series of transactions, including an amalgamation of StudioCo and New SEAC under a Canadian plan of arrangement (the “Business Combination”). In connection with the closing of the Business Combination, New SEAC changed its name to “Lionsgate Studios Corp.” and continues the existing business operations of the Studio Business of Lionsgate. The Company became a separate publicly traded company and its common shares, without par value (“LG Studios Common Shares”), commenced trading on Nasdaq under the symbol “LION” on May 14, 2024. In connection with and prior to the Business Combination, Lionsgate and StudioCo entered into a separation agreement pursuant to which the assets and liabilities of the Studio Business were transferred to StudioCo such that StudioCo held, directly or indirectly, all of the assets and liabilities of the Studio Business (the “Separation”). The Business Combination was accounted for as a reverse recapitalization in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). Under this method of accounting, SEAC is treated as the acquired company and the Studio Business is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of Lionsgate Studios will represent a continuation of the financial statements of the Studio Business, with the Business Combination treated as the equivalent of the Studio Business issuing LG Studios Common Shares for the historical net assets of SEAC, substantially consisting of cash held in the trust account, accompanied by a recapitalization of the Studio Business equity. The historical net assets were stated at fair value, which approximated historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of the Studio Business. The Studio Business has been determined to be the accounting acquirer in the Business Combination because Lionsgate continues to hold a controlling financial interest.
Basis of Presentation	Basis of Presentation Upon the effective date of the Separation, the Company’s financial statements are presented on a consolidated basis, as Lionsgate completed the contribution of the Studio Business on such date. The unaudited financial statements for all periods presented, including the historical results of the Company prior to the Separation, are now referred to as the “condensed consolidated financial statements”. For periods prior to the Separation, the Company operated as a segment of Lionsgate and not as a separate entity. The Company’s financial statements prior to the Separation were prepared on a carve-out basis and were derived from Lionsgate’s consolidated financial statements and accounting records and reflect Studio Business’s combined historical financial position, results of operations and cash flows as they were historically managed in accordance with U.S. GAAP. Prior to the Separation, a management approach was applied to determine the carve-out basis of presentation. In using the management approach, considerations over how the business operates were utilized to identify historical operations that should be presented within the carve-out financial statements. For periods subsequent to the Separation, the accompanying unaudited condensed consolidated financial statements include the accounts of Lionsgate Studios and all of its majority-owned and controlled subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with U.S.GAAP for interim financial information and the instructions to quarterly report on Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements. Operating results for the three and nine months ended December 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. The balance sheet at March 31, 2024 has been derived from the audited combined financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read together with the Studio Business’ audited combined financial statements and related notes for the fiscal year ended March 31, 2024 as contained in Exhibit 99.1 of Amendment No. 2 to the Current Report on Form 8-K filed on October 15, 2024 with the U.S. Securities and Exchange Commission (“SEC”). Certain amounts presented in prior periods have been reclassified to conform to the current period presentation. All revenues and costs as well as assets and liabilities directly associated with the business activity of the Studio Business were included in the accompanying unaudited condensed consolidated financial statements. Revenues and costs associated with the Studio Business were specifically identifiable in the accounting records maintained by Lionsgate and primarily represent the revenue and costs used for the determination of segment profit of the Motion Picture and Television Production segments of Lionsgate. In addition, prior to the separation, the Studio Business costs included an allocation of corporate general and administrative expense (inclusive of share-based compensation) which was allocated to the Studio Business as further discussed below. Other costs excluded from the Motion Picture and Television Production segment profit but relating to the Studio Business were generally specifically identifiable as costs of the Studio Business in the accounting records of Lionsgate and were included in the accompanying unaudited condensed consolidated financial statements in periods prior to the Separation . In connection with the Business Combination, on May 9, 2024, Lionsgate and StudioCo entered into a shared services and overhead sharing agreement (the “Shared Services Agreement”) which took effect upon the closing of the Business Combination. The Shared Services Agreement facilitates the allocation to the Company of all corporate general and administrative expenses of Lionsgate, except for an amount of $10.0 million to be allocated annually to the Starz Business of Lionsgate. The $10.0 million allocation of Lionsgate’s corporate general and administrative expenses to the Starz Business pursuant to the Shared Services Agreement is designed to reflect the portion of corporate expenses expended and reflective of the level of effort and costs incurred related to management oversight and services provided for the Starz Business post Separation with consideration of the anticipated separation of the Starz Business. The corporate general and administrative expenses that are allocated to the Company pursuant to the Shared Services Agreement include salaries and wages for certain executives and other corporate officers related to executive oversight, investor relations costs, costs for the maintenance of corporate facilities, and other common administrative support functions, including corporate accounting, finance and financial reporting, audit and tax costs, corporate and other legal support functions, and certain information technology and human resources. In addition, the Separation Agreement and the Shared Services Agreement provide that officers, employees and directors of the Company will continue to receive awards of equity and equity-based compensation pursuant to the existing plans of Lionsgate. Such awards will be treated as a capital contribution by Lionsgate to the Company, with the associated stock based compensation expense for such awards allocated to the Company, see Note 13. For periods prior to the Separation, the unaudited condensed combined financial statements of the Studio Business included allocations of corporate general and administrative expenses (inclusive of share-based compensation) from Lionsgate related to the corporate and shared service functions historically provided by Lionsgate. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remainder allocated on a pro rata basis of consolidated Lionsgate revenue, payroll expense or other measures considered to be a reasonable reflection of the historical utilization levels of these services. Management believes the assumptions underlying these unaudited condensed consolidated financial statements, including the assumptions regarding the allocation of general and administrative expenses from Lionsgate to the Studio Business prior to the Separation, are reasonable. See Note 20 for further detail of the allocations included in the unaudited condensed consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs; estimates related to the revenue recognition of sales or usage-based royalties; fair value of equity-based compensation; the allocations of costs to the Company for certain corporate and shared service functions in preparing the unaudited condensed consolidated financial statements for periods prior to the Separation on a carve-out basis; fair value of assets and liabilities for allocation of the purchase price of companies and assets acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; impairment assessments for investment in films and television programs, and goodwill. Actual results could differ from such estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Segment Reporting: In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance which expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2025 and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Taxes: In December 2023, the FASB issued guidance which expands income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. Additionally, this guidance requires all entities disaggregate disclosures by jurisdiction on the amount of income taxes paid (net of refunds received), income or loss from continuing operations before income tax expense (or benefit) and income tax expense (or benefit) from continuing operations. This guidance is effective for fiscal years beginning after December 15, 2024, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures. Income Statement: In November 2024, the FASB issued guidance requiring public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This guidance is effective for fiscal years beginning after December 15, 2026, and therefore will be effective beginning with the Company’s financial statements issued for the fiscal year ending March 31, 2028 and interim reporting periods beginning in fiscal 2029, with early adoption permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures.

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Reverse Recapitalization	The following table presents the number of LG Studios Common Shares issued in connection with the Closing: Number of LG Studios Common Shares Issued Shares issued to SEAC public shareholders (1) 7,027,873 Shares issued to SEAC Sponsor and its permitted transferees (2) 2,010,000 Shares issued to PIPE Investors (3) 25,759,430 Additional shares issued (4) 448,127 Total shares issued in Business Combination and related transactions 35,245,430 Shares issued to Lionsgate (5) 253,435,794 Total Lionsgate Studios Common Shares following the Closing of the Business Combination 288,681,224 ______________ (1) Reflects 7,027,873 LG Studios Common Shares issued to holders of Class A ordinary shares of SEAC (the “SEAC Class A Ordinary Shares”) which were subject to possible redemption. This reflects the 75,000,000 SEAC Class A Ordinary Shares outstanding as of March 31, 2024, net of 67,972,127 SEAC Class A Ordinary Shares which were redeemed prior to the Closing for $730.1 million in aggregate at a weighted average redemption price of $10.745 per share. (2) Reflects 2,010,000 LG Studios Common Shares issued to Eagle Equity Partners V, LLC (the “SEAC Sponsor”) and its permitted transferees in connection with their SEAC Class A Ordinary Shares held after the conversion of their Class B ordinary shares of SEAC (the “SEAC Class B Ordinary Shares”) and repurchase of 16,740,000 SEAC Class B Ordinary Shares pursuant to the Sponsor Securities Repurchase, as described below, prior to the Business Combination. The number of LG Studios Common Shares issued excludes options issued in the Sponsor Securities Repurchase described below, for the purchase of 2,200,000 LG Studios Common Shares subject to certain vesting restrictions pursuant to the Sponsor Option Agreement described below. (3) Reflects 14,141,559 LG Studios Common Shares issued at a purchase price of $9.63 per share and 11,617,871 LG Studios Common Shares issued at a purchase price of $10.165 per share, to certain institutional and accredited investors (the “PIPE Investors”) pursuant to subscription agreements as described below. Amounts exclude 1,953,976 PIPE Shares for which Reduction Rights as described below were exercised. (4) Reflects 254,200 LG Studios Common Shares issued pursuant to share purchase and/or non-redemption agreements (the “Non-Redemption Agreements”) SEAC and New SEAC entered into with certain investors prior to the Business Combination and 193,927 LG Studios Common Shares issued to certain PIPE Investors for which Reduction Rights, as described below, were exercised. (5) Reflects 253,435,794 LG Studios Common Shares issued to Lionsgate through a series of transactions, including an amalgamation of StudioCo and New SEAC, as consideration for the cancellation and exchange of each then issued and outstanding common share, without par value, of StudioCo. Under the recapitalization accounting, these shares are reflected as issued and outstanding as of the beginning of the earliest period presented in the unaudited condensed consolidated statements of equity (deficit). The following table presents and reconciles elements of the Business Combination and related transactions to the consolidated statement of cash flows and the consolidated statement of equity (deficit) for the nine months ended December 31, 2024 (amounts in millions): Gross cash proceeds from SEAC trust account, net of redemptions (1) $ 75.7 Gross cash proceeds from PIPE Investment, net of Reduction Rights exercised (2) 254.3 Total gross cash proceeds 330.0 Less: SEAC warrant exchange payment (3) (12.5) Less: SEAC transaction costs (20.1) Less: Lionsgate Studios transaction costs (19.2) Net proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of equity (deficit) 278.2 Add: Transaction costs accrued and not paid, net of transaction costs previously paid 3.5 Net cash proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of cash flows $ 281.7 ______________ (1) Reflects the remaining $75.7 million in SEAC’s trust account, established at the consummation of SEAC’s initial public offering, after redemptions. As described above, 7,027,873 LG Studios Common Shares were issued to holders of SEAC Class A Ordinary Shares which were subject to possible redemption and not redeemed prior to the Closing. (2) Reflects the gross proceeds from the issuance of 25,759,430 LG Studios Common Shares to PIPE Investors, net of Reduction Rights exercised. (3) Prior to the Closing, each of the then issued and outstanding whole warrants of SEAC, sold as part of SEAC’s initial public offering (the “SEAC Public Warrants”) was automatically exchanged for $0.50 in cash pursuant to the terms of an amendment to the agreement governing the SEAC Public Warrants. As of the Closing, no SEAC Public Warrants were outstanding.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Preliminary Allocation of Purchase Price to the Assets Acquired and Liabilities Assumed	Allocation of Purchase Consideration. The Company has made an allocation of the purchase price of eOne to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair value as follows: (Amounts in millions) Cash and cash equivalents $ 54.1 Accounts receivable 293.2 Investment in films and television programs 370.2 Property and equipment 14.0 Intangible assets 4.0 Other assets (1) 172.4 Accounts payable and accrued liabilities (69.3) Content related payables (38.8) Participations and residuals (1) (202.9) Film related obligations (1) (105.8) Other liabilities and deferred revenue (1) (130.9) Fair value of net assets acquired 360.2 Goodwill 12.9 Purchase price consideration at December 31, 2024 $ 373.1 ______________ (1) Includes current and non-current amounts.
Schedule of Pro Forma Statement of Operations Information	The following unaudited pro forma condensed consolidated statement of operations information presented below illustrates the results of operations of the Company as if the acquisition of eOne as described above occurred on April 1, 2023. The unaudited pro forma condensed consolidated financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisition had occurred on April 1, 2023, nor is it indicative of future results. The statement of operations information below includes the statement of operations of eOne for the nine months ended September 30, 2023 combined with the Company's statement of operations for the nine months ended December 31, 2023, respectively. Three Months Ended Nine Months Ended December 31, December 31, 2023 2023 (Amounts in millions) Revenues $ 832.5 $ 2,525.6 Net income (loss) attributable to Lionsgate Studios Corp. (21.2) (323.7)

Investment in Films and Telev_2

Investment in Films and Television Programs (Tables)	9 Months Ended
	Dec. 31, 2024
Investment in Films And Television Programs [Abstract]
Schedule of Total Investment in Films and Television Programs	Total investment in films and television programs is as follows: December 31, 2024 March 31, 2024 (Amounts in millions) Investment in Films and Television Programs: Released, net of accumulated amortization $ 1,011.6 $ 992.2 Completed and not released 201.3 225.4 In progress 1,129.2 644.4 In development 115.3 67.0 Investment in films and television programs, net $ 2,457.4 $ 1,929.0
Schedule of Impairments by Segment	Investment in films and television programs includes write-downs to fair value, which are included in direct operating expense on the unaudited condensed consolidated statements of operations, and represented the following amounts by segment for the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Impairments by segment: Included in direct operating expense (1) : Motion Picture $ 0.2 $ 0.5 $ 18.8 $ 27.5 Television Production 0.4 1.2 0.4 6.6 Impairments not included in segment operating results (2) Included in restructuring and other 7.3 — 6.8 — $ 7.9 $ 1.7 $ 26.0 $ 34.1 ________________________ (1) Impairments included in direct operating expense are included in the amortization expense amounts disclosed above. (2) Amounts in the three and nine months ended December 31, 2024 primarily represent content impairments related to the Motion Picture and Television Production segments associated with exiting local production in certain international territories. See Note 15.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Dec. 31, 2024
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Schedule of Investments	The Company’s investments consisted of the following: December 31, 2024 March 31, 2024 (Amounts in millions) Investments in equity method investees $ 69.7 $ 68.4 Other investments (1) 9.7 6.4 $ 79.4 $ 74.8 ______________________ (1) Other investments represents equity investments without readily determinable fair values.

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Value of Goodwill by Reporting Segment	Changes in the carrying value of goodwill by reporting segment were as follows: Motion Television Total (Amounts in millions) Balance as of March 31, 2024 $ 398.6 $ 412.6 $ 811.2 Measurement period adjustments (1) (1.7) (1.0) (2.7) Balance as of December 31, 2024 $ 396.9 $ 411.6 $ 808.5 ________________________ (1)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Total Debt, Excluding Film Related Obligations	Total debt of the Company, excluding film related obligations, was as follows: December 31, 2024 March 31, 2024 (Amounts in millions) Intercompany Revolver $ 134.4 $ — Intercompany Note: LGTV Revolver (1) 390.0 575.0 LGTV Term Loan A (1) 314.4 399.3 LGTV Term Loan B (1) — 819.2 eOne IP Credit Facility 331.5 — LG IP Credit Facility 850.0 — Total corporate debt 2,020.3 1,793.5 Unamortized debt issuance costs (24.1) (10.2) Total debt, net 1,996.2 1,783.3 Less current portion (253.4) (860.3) Non-current portion of debt $ 1,742.8 $ 923.0 ________________________ (1) As of March 31, 2024, amounts reflect the balances outstanding under Lionsgate’s Credit Agreement (including the revolving credit facility, term loan A and term loan B, together referred to as the “Lionsgate Senior Credit Facilities”) prior to the Company’s entry into the Intercompany Note with LGCH described below.
Schedule of Loss on Extinguishment of Debt	During the three and nine months ended December 31, 2024 and 2023, the Company recorded a loss on extinguishment of debt related to the transactions described above as summarized in the table below. Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 (Amounts in millions) Loss on Extinguishment of Debt: Term Loan A and Term Loan B repayment (1) $ (0.3) $ — $ (1.8) $ — ________________________ (1) See LGTV Term Loan A and LGTV Term Loan B Prepayment

Film Related Obligations (Table

Film Related Obligations (Tables)	9 Months Ended
	Dec. 31, 2024
Film Related Obligations [Abstract]
Schedule of Components	December 31, 2024 March 31, 2024 (Amounts in millions) Film related obligations: Production Loans $ 1,346.0 $ 1,292.2 Production Tax Credit Facility 257.8 260.0 Backlog Facility and Other 179.0 287.3 Film Library Facility 87.5 109.9 Total film related obligations 1,870.3 1,949.4 Unamortized issuance costs (5.9) (11.4) Total film related obligations, net 1,864.4 1,938.0 Less current portion (1,421.2) (1,393.1) Total non-current film related obligations $ 443.2 $ 544.9
Schedule of Cumulative Minimum Guaranteed Payments of Film Library Facility	The cash flows generated from the exploitation of the rights will be applied to repay the Film Library Facility subject to cumulative minimum guaranteed payment amounts as set forth below: Cumulative Period From September 29, 2022 Through: Cumulative Minimum Guaranteed Payment Amounts Payment Due Date (in millions) September 30, 2025 $91.1 November 14, 2025 September 30, 2026 $121.4 November 14, 2026 July 30, 2027 $161.9 July 30, 2027

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis	The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of December 31, 2024 and March 31, 2024: December 31, 2024 March 31, 2024 Level 1 Level 2 Total Level 1 Level 2 Total Assets: (Amounts in millions) Forward exchange contracts (see Note 18) $ — $ 1.9 $ 1.9 $ — $ — $ — Interest rate swaps (see Note 18) — 0.7 0.7 — 35.6 35.6 Liabilities: Forward exchange contracts (see Note 18) — — — — (2.8) (2.8) Interest rate swaps (see Note 18) — — — — — —
Schedule of Carrying Values and Fair Values of Company’s Outstanding Debt, Film Related Obligations, and Interest Rate Swaps	The following table sets forth the carrying values and fair values of the Company’s outstanding debt and film related obligations at December 31, 2024 and March 31, 2024: December 31, 2024 March 31, 2024 (Amounts in millions) Carrying Fair Value (1) Carrying Value Fair Value (1) (Level 2) (Level 2) Intercompany Revolver $ 134.4 $ 134.4 $ — $ — LGTV Revolver 386.8 390.0 569.9 575.0 LGTV Term Loan A 313.1 313.6 396.6 397.3 LGTV Term Loan B — — 816.9 818.1 eOne IP Credit Facility 325.8 331.5 — — LG IP Credit Facility 836.0 850.0 — — Production Loans 1,342.3 1,346.0 1,286.2 1,292.2 Production Tax Credit Facility 257.7 257.8 258.7 260.0 Backlog Facility and Other 178.6 179.0 285.4 287.3 Film Library Facility 85.7 87.5 107.6 109.9 ________________ (1) The Company measures the fair value of its outstanding debt and interest rate swaps using discounted cash flow techniques that use observable market inputs, such as SOFR-based yield curves, swap rates, and credit ratings (Level 2 measurements).

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
Schedule of Changes in Redeemable Noncontrolling Interest	The table below presents the reconciliation of changes in redeemable noncontrolling interests: Nine Months Ended December 31, 2024 2023 (Amounts in millions) Beginning balance $ 123.3 $ 343.6 Net loss attributable to redeemable noncontrolling interests (1.6) (7.3) Adjustments to redemption value 0.9 71.5 Cash contributions (distributions) 0.5 (1.0) Purchase of noncontrolling interest (23.4) (0.6) Ending balance $ 99.7 $ 406.2

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenues by Segment, Market or Product Line	The table below presents revenues by segment, market or product line for the three and nine months ended December 31, 2024 and 2023. The Motion Picture and Television Production segments include the revenues of eOne from the acquisition date of December 27, 2023 (see Note 3). Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Revenue by Type: Motion Picture Theatrical $ 35.0 $ 100.1 $ 91.1 $ 194.2 Home Entertainment Digital Media 145.7 155.5 400.3 495.3 Packaged Media 16.0 21.0 37.8 63.0 Total Home Entertainment 161.7 176.5 438.1 558.3 Television 38.3 65.3 235.0 214.5 International 68.3 94.7 284.3 255.3 Other 5.9 6.6 14.8 23.3 Total Motion Picture revenues (1) 309.2 443.2 1,063.3 1,245.6 Television Production Television 259.9 182.3 733.1 554.2 International 59.3 32.1 144.8 137.7 Home Entertainment Digital Media 55.5 17.4 108.7 113.4 Packaged Media 1.7 0.3 3.0 1.0 Total Home Entertainment 57.2 17.7 111.7 114.4 Other 28.2 16.3 72.9 54.4 Total Television Production revenues (2) 404.6 248.4 1,062.5 860.7 Total revenues $ 713.8 $ 691.6 $ 2,125.8 $ 2,106.3 ________________ (1) Total Motion Picture revenues for the three months ended December 31, 2024 and 2023 includes $9.9 million and $36.6 million, respectively, of revenues from licensing Motion Picture segment product to the Starz Business. Total Motion Picture revenues for the nine months ended December 31, 2024 and 2023 includes $146.2 million and $113.7 million, respectively, of revenues from licensing Motion Picture segment product to the Starz Business. (2)
Schedule of Revenues Expected to be Recognized in Future Related to Performance Obligations	Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at December 31, 2024 are as follows: Rest of Year Ending March 31, Year Ending March 31, 2025 2026 2027 Thereafter Total (Amounts in millions) Remaining Performance Obligations $ 618.4 $ 783.7 $ 184.9 $ 139.0 $ 1,726.0
Schedule of Changes in Provision for Doubtful Accounts	Changes in the provision for doubtful accounts consisted of the following: March 31, 2024 (Benefit) provision for doubtful accounts Other (1) Uncollectible accounts written-off December 31, (Amounts in millions) Provision for doubtful accounts $ 6.4 $ (0.9) $ 2.5 $ (1.0) $ 7.0 _____________ (1) Represents a measurement period adjustment to the provision for doubtful accounts acquired in the acquisition of eOne (see Note 3).

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income Loss Per Share	Basic and diluted net income (loss) per share for the three and nine months ended December 31, 2024 and 2023 is presented below: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions, except per share amounts) Basic and Diluted Net Income (Loss) Per Common Share: Numerator: Net income (loss) attributable to Lionsgate Studios Corp. shareholders $ 6.4 $ (41.1) $ (150.4) $ (46.5) Accretion of redeemable noncontrolling interest (0.3) — (1.0) — Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest $ 6.1 $ (41.1) $ (151.4) $ (46.5) Denominator: Weighted average common shares outstanding 288.7 253.4 283.3 253.4 Basic and diluted net income (loss) per common share $ 0.02 $ (0.16) $ (0.53) $ (0.18)
Schedule of Outstanding Common Shares Issuable Excluded from Diluted Net Income Loss Per Common Share	Additionally, for the three and nine months ended December 31, 2024 and 2023, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because they are contingently issuable upon certain vesting criteria that have not been met as of the reporting period. Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) SEAC Sponsor Options 2.2 — 2.2 —

Capital Stock (Tables)

Capital Stock (Tables)	9 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation Expense	The Company recognized the following share-based compensation expense during the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Compensation Expense: Stock options $ 0.2 $ 0.4 $ 0.6 $ 1.4 Restricted share units and other share-based compensation 13.9 12.2 30.3 32.6 Share appreciation rights 0.2 0.1 0.5 0.2 Total Lionsgate Studios employee share-based compensation expense 14.3 12.7 31.4 34.2 Corporate allocation of share-based compensation — 4.5 10.8 12.1 14.3 17.2 42.2 46.3 Impact of accelerated vesting on equity awards (1) — 6.8 4.7 7.3 Total share-based compensation expense $ 14.3 $ 24.0 $ 46.9 $ 53.6 ___________________ (1) Represents the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements prior to the Separation. Share-based compensation expense, by expense category, consisted of the following: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Share-Based Compensation Expense: General and administration $ 14.3 $ 17.2 $ 42.2 $ 46.3 Restructuring and other — 6.8 4.7 7.3 $ 14.3 $ 24.0 $ 46.9 $ 53.6
Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity	The following table sets forth the stock option, share appreciation rights (“SARs”), restricted stock and restricted share unit activity at Lionsgate for grants related directly to the Company employees and Lionsgate corporate and shared service employees during the nine months ended December 31, 2024: Stock Options and SARs Restricted Stock and Restricted Share Units Lions Gate Class A Voting Shares Lions Gate Class B Non-Voting Shares Lions Gate Class A Voting Shares Lions Gate Class B Non-Voting Shares Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Exercise Price Number of Shares Weighted-Average Grant-Date Fair Value Number of Shares Weighted-Average Grant-Date Fair Value (Number of shares in millions) Outstanding at March 31, 2024 2.4 $ 22.96 17.1 $ 13.92 0.1 $ 9.27 9.8 $ 8.93 Granted — — — (1) $ 7.12 0.1 $ 8.20 8.1 $ 7.98 Options exercised or restricted stock or RSUs vested — — (0.1) $ 5.50 (0.1) $ 9.20 (5.8) $ 8.79 Forfeited or expired (0.1) $ 20.26 (2.2) $ 14.64 — — (0.6) $ 8.52 Outstanding at December 31, 2024 2.3 $ 23.10 14.8 $ 13.86 0.1 $ 8.39 11.5 $ 8.20 _____________________ (1) Represents less than 0.1 million shares.

Restructuring and Other (Tables

Restructuring and Other (Tables)	9 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Other	Restructuring and other includes restructuring and severance costs and certain transaction and other costs, when applicable. During the three and nine months ended December 31, 2024 and 2023, the Company also incurred certain other unusual charges or benefits, which are included in direct operating expense in the consolidated statements of operations and are described below. The following table sets forth restructuring and other and these other unusual charges or benefits and the statement of operations line items they are included in for the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Restructuring and other: Content and other impairments (1) $ 7.3 $ — $ 25.8 $ — Severance (2) 20.3 28.1 24.6 31.6 Transaction and other costs (3) 13.3 24.4 25.4 29.9 Total Restructuring and Other 40.9 52.5 75.8 61.5 Other unusual charges not included in restructuring and other or the Company’s operating segments: COVID-19 related charges (benefit) included in direct operating expense (4) — — (2.1) (0.5) Unallocated rent cost included in direct operating expense (5) 4.1 — 14.6 — Total restructuring and other and other unusual charges not included in restructuring and other $ 45.0 $ 52.5 $ 88.3 $ 61.0 _______________________ (1) Amounts in the three and nine months ended December 31, 2024 include content impairments of $7.3 million related to the Motion Picture and Television Production segments associated with exiting local production in certain international territories. Amounts in the nine months ended December 31, 2024 also include impairments of certain operating lease right-of-use and leasehold improvement assets related to the Television Production segment associated with facility leases that will no longer be utilized by the Company primarily related to the integration of eOne. (2) Severance costs were primarily related to restructuring, acquisition integration activities and other cost-saving initiatives. During the quarter ended December 31, 2024, in connection with the Company's current restructuring plan, approximately 8% of its eligible U.S. employees elected to take advantage of voluntary severance and early retirement packages. A total of approximately $26.1 million in severance expense is expected to be incurred under the voluntary severance program, of which $14.6 million of severance expense was recognized in restructuring and other in the three and nine months ended December 31, 2024, and the remaining amount is expected to be recognized in the fourth quarter ended March 31, 2025. In the three and nine months ended December 31, 2023, amounts were due to restructuring activities including integration of the acquisition of eOne, and our Motion Picture and Television Production segments. (3) Transaction and other costs in the three and nine months ended December 31, 2024 and 2023 reflect transaction, integration and legal costs associated with certain strategic transactions, and restructuring activities and also include costs and benefits associated with legal and other matters. In addition, transaction and other costs in the three and nine months ended December 31, 2023 includes approximately $16.6 million of a loss associated with a theft at a production of a 51% owned consolidated entity. The Company expects to recover a portion of this amount under its insurance coverage and from the noncontrolling interest holders of this entity. (4) Amounts include incremental costs incurred, if any, due to circumstances associated with the COVID-19 global pandemic, net of insurance recoveries of nil and $2.1 million in the three and nine months ended December 31, 2024, respectively (three and nine months ended December 31, 2023 - insurance recoveries of $0.1 million and $0.6 million, respectively). In the nine months ended December 31, 2024 and the three and nine months ended December 31, 2023, insurance recoveries exceeded the incremental costs expensed in the period, resulting in a net benefit included in direct operating expense. (5) Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments. Changes in the restructuring and other severance liability were as follows for the nine months ended December 31, 2024 and 2023: Nine Months Ended December 31, 2024 2023 (Amounts in millions) Severance liability Beginning balance $ 19.3 $ 3.7 Accruals (2) 19.9 24.3 Severance payments (16.0) (5.4) Ending balance (1) $ 23.2 $ 22.6 _______________________ (1) As of December 31, 2024, the remaining severance liability of approximately $23.2 million is expected to be paid in the next 12 months. (2) Excludes $4.7 million and $7.3 million in the nine months ended December 31, 2024 and 2023, respectively, of accelerated vesting on equity awards.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Information	Segment information is presented in the table below. The Motion Picture and Television Production segments include the results of operations of eOne from the acquisition date of December 27, 2023 (see Note 3). Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Segment revenues Motion Picture $ 309.2 $ 443.2 $ 1,063.3 $ 1,245.6 Television Production 404.6 248.4 1,062.5 860.7 Total revenue $ 713.8 $ 691.6 $ 2,125.8 $ 2,106.3 Gross contribution Motion Picture $ 106.0 $ 127.5 $ 246.1 $ 320.3 Television Production 75.4 21.6 145.3 134.6 Total gross contribution 181.4 149.1 391.4 454.9 Segment general and administration Motion Picture 22.4 27.1 73.6 83.2 Television Production 14.5 13.5 49.3 40.5 Total segment general and administration 36.9 40.6 122.9 123.7 Segment profit Motion Picture 83.6 100.4 172.5 237.1 Television Production 60.9 8.1 96.0 94.1 Total segment profit $ 144.5 $ 108.5 $ 268.5 $ 331.2
Schedule of Reconciliation of Total Segment Profit to the Company's Loss Before Income Taxes	The reconciliation of total segment profit to the Company’s income (loss) before income taxes is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Company’s total segment profit $ 144.5 $ 108.5 $ 268.5 $ 331.2 Corporate general and administrative expenses (1) (28.4) (25.2) (87.6) (76.2) Adjusted depreciation and amortization (2) (3.4) (1.8) (10.1) (7.1) Restructuring and other (40.9) (52.5) (75.8) (61.5) COVID-19 related benefit (charges) included in direct operating expense (3) — — 2.1 0.5 Content charges (4) — (0.3) — (1.1) Unallocated rent cost included in direct operating expense (5) (4.1) — (14.6) — Adjusted share-based compensation expense (6) (14.3) (17.2) (42.2) (46.3) Purchase accounting and related adjustments (7) (3.8) (4.2) (9.8) (19.4) Operating income 49.6 7.3 30.5 120.1 Interest expense (58.5) (55.5) (180.1) (157.1) Interest and other income 3.1 1.7 11.4 6.9 Other gains (losses), net 10.1 (0.6) (5.2) (14.3) Loss on extinguishment of debt (0.3) — (1.8) — Gain on investments, net — 4.4 — 2.7 Equity interests income 7.6 4.2 8.5 5.7 Income (loss) before income taxes $ 11.6 $ (38.5) $ (136.7) $ (36.0) __ _________________ (1) Corporate general and administrative expenses reflect the allocations of certain general and administrative expenses from Lionsgate related to certain corporate and shared service functions historically provided by Lionsgate, including, but not limited to, executive oversight, accounting, tax, legal, human resources, occupancy, and other shared services (see Note 1 and Note 20). Amount excludes allocation of share-based compensation expense discussed below. The costs included in corporate general and administrative expenses represent certain corporate executive expense (such as salaries and wages for the office of the Chief Executive Officer, Chief Financial Officer, General Counsel and other corporate officers), investor relations costs, costs of maintaining corporate facilities, and other unallocated common administrative support functions, including corporate accounting, finance and financial reporting, internal and external audit and tax costs, corporate and other legal support functions, and certain information technology and human resources expense. (2) Adjusted depreciation and amortization represents depreciation and amortization as presented on the unaudited condensed consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Depreciation and amortization $ 4.4 $ 3.0 $ 13.2 $ 11.1 Less: Amount included in purchase accounting and related adjustments (1.0) (1.2) (3.1) (4.0) Adjusted depreciation and amortization $ 3.4 $ 1.8 $ 10.1 $ 7.1 (3) Amounts represent the incremental costs, if any, included in direct operating expense resulting from circumstances associated with the COVID-19 global pandemic, net of insurance recoveries (see Note 15). These benefits (charges) are excluded from segment operating results. (4) Content charges represent certain charges included in direct operating expense in the unaudited condensed consolidated statements of operations, and excluded from segment operating results. (5) Amounts represent rent cost for production facilities that were unutilized as a result of the industry strikes, and therefore such amounts are not allocated to the segments. (6) The following table reconciles total share-based compensation expense to adjusted share-based compensation expense: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Total share-based compensation expense $ 14.3 $ 24.0 $ 46.9 $ 53.6 Less: Amount included in restructuring and other (i) — (6.8) (4.7) (7.3) Adjusted share-based compensation $ 14.3 $ 17.2 $ 42.2 $ 46.3 (i) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of vesting schedules for equity awards pursuant to certain severance arrangements. (7) The following sets forth the amounts included in each line item in the financial statements: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Purchase accounting and related adjustments: General and administrative expense (i) $ 2.8 $ 3.0 $ 6.7 $ 15.4 Depreciation and amortization 1.0 1.2 3.1 4.0 $ 3.8 $ 4.2 $ 9.8 $ 19.4 (i) These adjustments include the expense associated with the noncontrolling equity interests in the distributable earnings related to 3 Arts Entertainment, and the amortization of the recoupable portion of the purchase price ($1.3 million
Schedule of Reconciliation of Segment General and Administrative Expense to Consolidated	The following table reconciles segment general and administration expense to the Company’s total consolidated general and administration expense: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) General and administration Segment general and administrative expenses $ 36.9 $ 40.6 $ 122.9 $ 123.7 Corporate general and administrative expenses 28.4 25.2 87.6 76.2 Share-based compensation expense included in general and administrative expense 14.3 17.2 42.2 46.3 Purchase accounting and related adjustments 2.8 3.0 6.7 15.4 $ 82.4 $ 86.0 $ 259.4 $ 261.6
Schedule of Reconciliation of Total Segment Assets to Total Consolidated Assets	The reconciliation of total segment assets to the Company’s total consolidated assets is as follows: December 31, 2024 March 31, 2024 (Amounts in millions) Assets Motion Picture $ 1,916.8 $ 1,851.4 Television Production 2,555.6 2,347.8 Other unallocated assets (1) 902.1 903.8 $ 5,374.5 $ 5,103.0 _____________________ (1) Other unallocated assets primarily consist of cash, other assets and investments.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Outstanding	As of December 31, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 16 months from December 31, 2024): December 31, 2024 Foreign Currency Foreign Currency Amount US Dollar Amount Weighted Average Exchange Rate Per $1 USD (Amounts in millions) (Amounts in millions) British Pound Sterling 0.2 GBP in exchange for $ 0.3 0.77 GBP Czech Koruna 180.0 CZK in exchange for $ 7.7 23.29 CZK Euro 13.9 EUR in exchange for $ 14.6 0.94 EUR Canadian Dollar 8.5 CAD in exchange for $ 6.2 1.37 CAD Mexican Peso 20.7 MXN in exchange for $ 1.0 20.43 MXN Hungarian Forint 5,612.8 HUF in exchange for $ 15.0 373.74 HUF New Zealand Dollar 2.7 NZD in exchange for $ 1.7 1.67 NZD Designated Cash Flow Hedges at March 31, 2024: Effective Date Notional Amount Fixed Rate Paid Maturity Date (in millions) May 23, 2018 $300.0 2.915% March 24, 2025 May 23, 2018 $700.0 2.915% March 24, 2025 June 25, 2018 $200.0 2.723% March 23, 2025 July 31, 2018 $300.0 2.885% March 23, 2025 December 24, 2018 $50.0 2.744% March 23, 2025 December 24, 2018 $100.0 2.808% March 23, 2025 December 24, 2018 $50.0 2.728% March 23, 2025 Total $1,700.0 Designated Cash Flow Hedges at December 31, 2024: Effective Date Notional Amount Fixed Rate Paid Maturity Date (in millions) August 15, 2024 $65.0 4.045% September 15, 2026 August 15, 2024 $77.5 3.803% August 15, 2026 August 15, 2024 $77.5 3.810% September 15, 2026 December 15, 2024 $125.0 3.970% December 15, 2026 Total $345.0
Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income (Loss), Location And Effect	The following table presents the pre-tax effect of the Company’s derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts Gain (loss) recognized in accumulated other comprehensive income (loss) $ 2.4 $ (4.3) $ 3.5 $ (7.3) Loss reclassified from accumulated other comprehensive income (loss) into direct operating expense $ (0.1) $ (2.6) $ (1.2) $ (2.5) Interest rate swaps Gain (loss) recognized in accumulated other comprehensive income (loss) $ 1.6 $ (11.7) $ (1.1) $ 24.7 Gain reclassified from accumulated other comprehensive income (loss) into interest expense $ 2.0 $ 11.4 $ 24.3 $ 31.5 Derivatives not designated as cash flow hedges: Interest rate swaps Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense $ 1.4 $ (1.8) $ (1.7) $ (5.5) Total direct operating expense on consolidated statements of operations $ 457.1 $ 433.6 $ 1,440.9 $ 1,306.0 Total interest expense on consolidated statements of operations $ 58.5 $ 55.5 $ 180.1 $ 157.1
Schedule of Amounts Recorded in Accompanying Unaudited Condensed Consolidated Balance Sheets Related to Use of Derivatives	As of December 31, 2024 and March 31, 2024, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company’s use of derivatives: December 31, 2024 Other Current Assets Other Non-Current Assets Other Accrued Liabilities (current) (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ 1.9 $ — $ — Interest rate swaps — 0.7 — Fair value of derivatives $ 1.9 $ 0.7 $ — March 31, 2024 Other Current Assets Other Accrued Liabilities (current) (Amounts in millions) Derivatives designated as cash flow hedges: Forward exchange contracts $ — $ 2.8 Interest rate swaps 35.6 — Fair value of derivatives $ 35.6 $ 2.8

Additional Financial Informat_2

Additional Financial Information (Tables)	9 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the total amounts reported in the unaudited condensed consolidated statements of cash flows at December 31, 2024 and March 31, 2024. At December 31, 2024 and March 31, 2024, restricted cash represents primarily amounts related to required cash reserves for interest payments associated with certain corporate debt and film related obligations. December 31, 2024 March 31, 2024 (Amounts in millions) Cash and cash equivalents $ 186.2 $ 277.0 Restricted cash included in other current assets 42.8 43.7 Restricted cash included in other non-current assets 10.8 13.7 Total cash, cash equivalents and restricted cash $ 239.8 $ 334.4
Schedule of Transfer of Financial Assets Accounted for as Sales	The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three and nine months ended December 31, 2024 and 2023: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 (Amounts in millions) Carrying value of receivables transferred and derecognized $ 51.7 $ 85.3 $ 345.5 $ 385.8 Net cash proceeds received 50.0 81.8 335.7 370.7 Loss recorded related to transfers of receivables 1.7 3.5 9.8 15.1 The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the nine months ended December 31, 2023: Nine Months Ended December 31, 2023 (Amounts in millions) Gross cash proceeds received for receivables transferred and derecognized $ 22.2 Less amounts from collections reinvested under revolving agreement (9.1) Proceeds from new transfers 13.1 Collections not reinvested and remitted or to be remitted (13.4) Net cash proceeds received (paid or to be paid) (1) $ (0.3) Carrying value of receivables transferred and derecognized (2) $ 22.1 Obligations recorded $ 2.1 Loss recorded related to transfers of receivables $ 2.0 ___________________ (1) During the three and nine months ended December 31, 2023, the Company voluntarily repurchased $46.0 million of receivables previously transferred. (2) Receivables net of unamortized discounts on long-term, non-interest bearing receivables.
Schedule of Composition of Other Assets	The composition of the Company’s other assets is as follows as of December 31, 2024 and March 31, 2024: December 31, 2024 March 31, 2024 (Amounts in millions) Other current assets Prepaid expenses and other $ 38.0 $ 34.8 Restricted cash 42.8 43.7 Contract assets 72.5 59.9 Interest rate swap assets — 35.6 Tax credits receivable 140.7 199.1 $ 294.0 $ 373.1 Other non-current assets Prepaid expenses and other $ 16.9 $ 18.3 Restricted cash 10.8 13.7 Accounts receivable 48.0 111.7 Contract assets 10.3 3.2 Tax credits receivable 440.6 361.7 Operating lease right-of-use assets 300.1 344.3 Interest rate swap assets 0.7 — $ 827.4 $ 852.9
Schedule of Changes in Accumulated Other Comprehensive Income	The following table summarizes the changes in the components of accumulated other comprehensive income, net of tax. During the nine months ended December 31, 2024 and 2023, there was no income tax expense or benefit reflected in other comprehensive income due to the income tax impact being offset by changes in the Company’s deferred tax valuation allowance. Foreign currency translation adjustments Net unrealized gain (loss) on cash flow hedges Total (Amounts in millions) March 31, 2024 $ (42.1) $ 138.8 $ 96.7 Other comprehensive income (loss) (12.8) 2.3 (10.5) Reclassifications to net loss (1) — (21.4) (21.4) December 31, 2024 $ (54.9) $ 119.7 $ 64.8 March 31, 2023 $ (41.1) $ 142.6 $ 101.5 Other comprehensive income (loss) 1.8 17.4 19.2 Reclassifications to net loss (1) — (23.5) (23.5) December 31, 2023 $ (39.3) $ 136.5 $ 97.2 __ _________________ (1)

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Net Transfers	The net transfers to and from Lionsgate through the period prior to the Separation discussed above were as follows: Nine Months Ended December 31, 2024 2023 Cash pooling and general financing activities $ 88.8 $ (241.7) Licensing of content (1) 9.7 428.8 Corporate reimbursements (5.3) 5.9 Corporate expense allocations (excluding allocation of share-based compensation) 2.3 20.2 Funding of purchases of accounts receivables held for collateral — (85.6) Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows $ 95.5 $ 127.6 Share-based compensation (including allocation of share-based compensation) (6.0) (53.6) Other non-cash transfer (2) (33.7) 16.6 Net transfers to (from) Parent per unaudited condensed consolidated statements of equity (deficit) $ 55.8 $ 90.6 __ _________________ (1) Reflects the settlement of amounts due from the Starz Business related to the Company’s licensing arrangements with the Starz Business. (2) Includes a non-cash transfer of debt through Parent net investment of $35.0 million in connection with the Separation in the nine months ended December 31, 2024.

Description of Business, Basi_3

Description of Business, Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions			8 Months Ended	9 Months Ended
	May 13, 2024	May 09, 2024	Dec. 31, 2024	Dec. 31, 2024
Business Acquisition [Line Items]
Proceeds from reverse recapitalization transaction			$ 330
Proceeds from the PIPE investment	$ 254.3		254.3	$ 254.3
Repayments of long-term debt			$ 299
Related Party | General and Administrative Expenses Allocated to Parent
Business Acquisition [Line Items]
Amounts of transaction		$ 10
Screaming Eagle | Studio Business
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	12.20%

Business Combination - Schedule

Business Combination - Schedule of Number of Common Shares Issued in Connection with Closing of Business Combination (Details) - USD ($) $ / shares in Units, $ in Millions			9 Months Ended
	May 13, 2024	May 12, 2024	Dec. 31, 2024	Mar. 31, 2024
Business Combination Segment Allocation [Line Items]
Additional shares issued (in shares)	448,127
Total shares issued in Business Combination and related transactions (in shares)	35,245,430
Shares issued to Lionsgate (in shares)	253,435,794
Total outstanding (in shares)	288,681,224
Common shares, shares issued (in shares)			288,700,000	253,400,000
Number of shares issued in transactions (in shares)		254,200
SEAC
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	7,027,873
SEAC | Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	254,200
SEAC | Lions Gate Class A Voting Shares
Business Combination Segment Allocation [Line Items]
Total outstanding (in shares)				75,000,000
Shares repurchased during period (in shares)		67,972,127
Stock repurchased		$ 730.1
Shares repurchased during period, price per share (in dollars per share)		$ 10.745
SEAC | Lions Gate Class B Non-Voting Shares
Business Combination Segment Allocation [Line Items]
Total outstanding (in shares)	2,010,000
Shares repurchased during period (in shares)	16,740,000
SEAC Sponsor Options
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	2,010,000
Common shares, shares issued (in shares)	2,200,000
PIPE Investors
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	25,759,430		16,218,402
Number of shares issued in transactions (in shares)	18,172,378
Number of shares excluded for reduction rights (in shares)	1,953,976
PIPE Investors | Offering One
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	14,141,559
Sale of stock, share price (in dollars per share)	$ 9.63
PIPE Investors | Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	11,617,871
Sale of stock, share price (in dollars per share)	$ 10.165
PIPE Investors | Lions Gate Class A Voting Shares | Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	193,927

Business Combination - Schedu_2

Business Combination - Schedule of Elements of Business Combination and Related Transactions to Consolidated Statement of Cash Flows and Equity (Deficit) (Details) - USD ($) $ / shares in Units, $ in Millions		8 Months Ended	9 Months Ended
	May 13, 2024	Dec. 31, 2024	Dec. 31, 2024
Business Combination Segment Allocation [Line Items]
Gross cash proceeds from SEAC trust account, net of redemptions			$ 75.7
Gross cash proceeds from PIPE Investment, net of Reduction Rights exercised	$ 254.3	$ 254.3	254.3
Total gross cash proceeds			330
Less: SEAC warrant exchange payment			(12.5)
Less: SEAC transaction costs			(20.1)
Less: Lionsgate Studios transaction costs			(19.2)
Net proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of equity (deficit)			278.2
Add: Transaction costs accrued and not paid, net of transaction costs previously paid			3.5
Net cash proceeds from the Business Combination and related equity issuances per the condensed consolidated statement of cash flows			$ 281.7
SEAC
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	7,027,873
SEAC Public Warrants
Business Combination Segment Allocation [Line Items]
Shares issued, price per share (in dollars per share)		$ 0.50	$ 0.50
Warrants outstanding		$ 0	$ 0

Business Combination - Narrativ

Business Combination - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			8 Months Ended	9 Months Ended
	May 13, 2024	May 12, 2024	Dec. 31, 2024	Dec. 31, 2024	Mar. 31, 2024
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)		254,200
Proceeds from the PIPE investment	$ 254.3		$ 254.3	$ 254.3
Proceeds due from the PIPE investment	$ 20
Common stock, shares outstanding (in shares)	288,681,224
Common stock, shares issued (in shares)			288,700,000	288,700,000	253,400,000
Common Shares
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)				193,927
PIPE Investors
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	18,172,378
Number of shares excluded for reduction rights (in shares)	1,953,976
Number of shares issued (in shares)	25,759,430			16,218,402
Number of shares pending issuance (in shares)	2,076,843
PIPE Investors | Offering One
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	14,141,559
Sale of stock, share price (in dollars per share)	$ 9.63
PIPE Investors | Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	11,617,871
Sale of stock, share price (in dollars per share)	$ 10.165
PIPE Investors | Class A Ordinary Share | Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	193,927
SEAC
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	7,027,873
SEAC | Offering Two
Business Combination Segment Allocation [Line Items]
Number of shares issued in transactions (in shares)	254,200
SEAC | Class A Ordinary Share
Business Combination Segment Allocation [Line Items]
Shares repurchased during period (in shares)		67,972,127
Common stock, shares outstanding (in shares)					75,000,000
Shares repurchased during period, price per share (in dollars per share)		$ 10.745
SEAC | Class B Ordinary Share
Business Combination Segment Allocation [Line Items]
Shares repurchased during period (in shares)	16,740,000
Common stock, shares outstanding (in shares)	2,010,000
Sponsor Securities Repurchase
Business Combination Segment Allocation [Line Items]
Shares issued, price per share (in dollars per share)	$ 1
Sponsor Securities Repurchase | Class B Ordinary Share
Business Combination Segment Allocation [Line Items]
Common stock, shares outstanding (in shares)	1,800,000
SEAC Sponsor Options
Business Combination Segment Allocation [Line Items]
Number of shares issued (in shares)	2,010,000
Common stock, shares issued (in shares)	2,200,000
Sponsor Option Agreement
Business Combination Segment Allocation [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001
Sponsor Agreements with Independent Directors and Advisors | Class B Ordinary Share
Business Combination Segment Allocation [Line Items]
Common stock, shares outstanding (in shares)	210,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions			3 Months Ended	9 Months Ended
	Jun. 05, 2024 USD ($) film	Dec. 27, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)
Business Acquisition [Line Items]
Number of films acquired | film	46
Variable interest entity, initial consolidation, gain (loss)	$ 0
Total assets			$ 5,374.5		$ 5,103
Liabilities			6,324.6		$ 6,129.9
Variable Interest Entity, Primary Beneficiary
Business Acquisition [Line Items]
Total assets			72.6
Liabilities			12.3
CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	68.6
Film and Television Library | CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	48.3
CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Consideration transferred	$ 35
Percentage of voting interests acquired	51%
eOne
Business Acquisition [Line Items]
Consideration transferred		$ 373.1	$ 373.1
Pro forma impairment of goodwill and trade name at eOne				$ 296.2
eOne | Trade Names
Business Acquisition [Line Items]
Weighted average useful life (in years)		5 years
eOne | Minimum | Film and Television Library
Business Acquisition [Line Items]
Weighted average useful life (in years)		5 years
eOne | Maximum | Film and Television Library
Business Acquisition [Line Items]
Weighted average useful life (in years)		10 years
CP LG Library Holdings, LLC
Business Acquisition [Line Items]
Ownership percentage by noncontrolling owners	49%

Acquisitions - Schedule of Allo

Acquisitions - Schedule of Allocation of Purchase Price to the Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions		3 Months Ended
	Dec. 27, 2023	Dec. 31, 2024	Mar. 31, 2024
Business Acquisition [Line Items]
Goodwill		$ 808.5	$ 811.2
eOne
Business Acquisition [Line Items]
Cash and cash equivalents	$ 54.1
Accounts receivable	293.2
Investment in films and television programs	370.2
Property and equipment	14
Intangible assets	4
Other assets	172.4
Accounts payable and accrued liabilities	(69.3)
Content related payables	(38.8)
Participations and residuals	(202.9)
Film related obligations	(105.8)
Other liabilities and deferred revenue	(130.9)
Fair value of net assets acquired	360.2
Goodwill	12.9
Purchase price consideration at December 31, 2024	$ 373.1	$ 373.1

Acquisitions - Schedule of Pro

Acquisitions - Schedule of Pro Forma Statement of Operations Information (Details) - eOne - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Revenues	$ 832.5	$ 2,525.6
Net income (loss) attributable to Lionsgate Studios Corp.	$ (21.2)	$ (323.7)

Investment in Films and Telev_3

Investment in Films and Television Programs - Schedule of Total Investment in Films and Television Programs (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Investment in Films and Television Programs:
Released, net of accumulated amortization	$ 1,011.6	$ 992.2
Completed and not released	201.3	225.4
In progress	1,129.2	644.4
In development	115.3	67
Investment in films and television programs, net	$ 2,457.4	$ 1,929

Investment in Films and Telev_4

Investment in Films and Television Programs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024
Investment in Films And Television Programs [Abstract]
Acquired film and television libraries, unamortized costs	$ 245		$ 245		$ 223.1
Acquired libraries, remaining amortization period (in years)			13 years 6 months
Amortization of films and television programs and program rights	$ 335.5	$ 311.4	$ 1,053.3	$ 948.1

Investment in Films and Telev_5

Investment in Films and Television Programs - Schedule of Impairments by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	$ 7.9	$ 1.7	$ 26	$ 34.1
Film, Monetized on Its Own, and Film Group, Impairment, Statement of Income [Extensible Enumeration]	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other	Total direct operating expense on consolidated statements of operations, Restructuring and other
Reportable Segments | Motion Picture
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	$ 0.2	$ 0.5	$ 18.8	$ 27.5
Reportable Segments | Television Production
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	0.4	1.2	0.4	6.6
Corporate
Segment Reporting Information [Line Items]
Write downs on investments in films and television programs	$ 7.3	$ 0	$ 6.8	$ 0

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Equity Method Investments, and Investments in Debt and Equity Securities [Abstract]
Investments in equity method investees	$ 69.7	$ 68.4
Other investments(1)	9.7	6.4
Investments	$ 79.4	$ 74.8

Investments - Narrative (Detail

Investments - Narrative (Details)	Dec. 31, 2024
Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership (as a percent)	6%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership (as a percent)	49%

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 811.2
Measurement period adjustments	(2.7)
Goodwill, ending balance	808.5
Adjustment to purchase price related to settlement of certain working capital items	12	$ 0
eOne
Goodwill [Roll Forward]
Measurement period adjustments	2.7
Decrease to accounts receivable	5.6
Decrease in investment in films and television programs	1.6
Increase to content related payables	3.4
Decrease to participation and residuals	1
Increase in accrued and other liabilities	1.9
Increase to other assets	4.2
Motion Picture
Goodwill [Roll Forward]
Goodwill, beginning balance	398.6
Measurement period adjustments	(1.7)
Goodwill, ending balance	396.9
Television Production
Goodwill [Roll Forward]
Goodwill, beginning balance	412.6
Measurement period adjustments	(1)
Goodwill, ending balance	$ 411.6

Debt - Schedule of Total Debt,

Debt - Schedule of Total Debt, Excluding Film Related Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Total corporate debt	$ 2,020.3	$ 1,793.5
Unamortized debt issuance costs	(24.1)	(10.2)
Total debt, net	1,996.2	1,783.3
Less current portion	(253.4)	(860.3)
Non-current portion of debt	1,742.8	923
Revolving Credit Facility | Intercompany Revolver
Debt Instrument [Line Items]
Total corporate debt	134.4	0
Revolving Credit Facility | LGTV Revolver
Debt Instrument [Line Items]
Total corporate debt	390	575
Term Loans | LGTV Term Loan A
Debt Instrument [Line Items]
Total corporate debt	314.4	399.3
Term Loans | LGTV Term Loan B
Debt Instrument [Line Items]
Total corporate debt	0	819.2
Secured Debt | eOne IP Credit Facility
Debt Instrument [Line Items]
Total corporate debt	331.5	0
Secured Debt | LG IP Credit Facility
Debt Instrument [Line Items]
Total corporate debt	$ 850	$ 0

Debt - Intercompany Note and In

Debt - Intercompany Note and Intercompany Revolver - Narrative (Details) $ in Millions		9 Months Ended
	May 13, 2024 USD ($)	Dec. 31, 2024 USD ($) increase	May 08, 2024 USD ($)	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Total corporate debt		$ 2,020.3		$ 1,793.5
Revolving Credit Facility | Lions Gate Television Inc. | Minimum
Debt Instrument [Line Items]
Commitment fee (as percent)		0.25%
Revolving Credit Facility | Lions Gate Television Inc. | Maximum
Debt Instrument [Line Items]
Commitment fee (as percent)		0.375%
Intercompany Revolver | Revolving Credit Facility
Debt Instrument [Line Items]
Total corporate debt		$ 134.4		0
Intercompany Revolver | Revolving Credit Facility | Lions Gate Television Inc.
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 150
Intercompany Revolver | Revolving Credit Facility | Lions Gate Television Inc. | SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)	1.75%
LGTV Revolver | Revolving Credit Facility
Debt Instrument [Line Items]
Total corporate debt		390		575
LGTV Revolver | Revolving Credit Facility | Lions Gate Television Inc.
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		1,100
Credit facility, available amount		$ 710
LGTV Term Loan A | Revolving Credit Facility | Lions Gate Television Inc.
Debt Instrument [Line Items]
Number of possible increases in margin | increase		2
Effective interest rate (as percent)		6.18%
LGTV Term Loan A | Revolving Credit Facility | Lions Gate Television Inc. | SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		0.10%
LGTV Term Loan A | Revolving Credit Facility | Lions Gate Television Inc. | SOFR | Minimum
Debt Instrument [Line Items]
Coupon rate (as percent)		0%
LGTV Term Loan A | Revolving Credit Facility | Lions Gate Television Inc. | Applicable Margin
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		1.75%
LGTV Term Loan A | Revolving Credit Facility | Lions Gate Television Inc. | Base Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		0.75%
LGTV Term Loan A | Revolving Credit Facility | Lions Gate Television Inc. | LIBOR
Debt Instrument [Line Items]
Potential increases in interest rate upon certain increases to leverage ratios, total		0.50%
Potential increase in interest rate upon certain increases to leverage ratios, per increase		0.25%
LGTV Term Loan A | Term Loans
Debt Instrument [Line Items]
Total corporate debt		$ 314.4		399.3
LGTV Term Loan A | Term Loans | Lions Gate Television Inc.
Debt Instrument [Line Items]
Total corporate debt			$ 399.3
Quarterly principal payment (as percent)		1.75%
Quarterly principal payment percent, year two		2.50%
LGTV Term Loan B | Term Loans
Debt Instrument [Line Items]
Total corporate debt		$ 0		$ 819.2
LGTV Term Loan B | Term Loans | Lions Gate Television Inc.
Debt Instrument [Line Items]
Total corporate debt			$ 819.2
LGTV Term Loan B | Term Loans | Lions Gate Television Inc. | SOFR
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		0.10%
LGTV Term Loan B | Term Loans | Lions Gate Television Inc. | SOFR | Minimum
Debt Instrument [Line Items]
Coupon rate (as percent)		0%
LGTV Term Loan B | Term Loans | Lions Gate Television Inc. | Applicable Margin
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		2.25%
LGTV Term Loan B | Term Loans | Lions Gate Television Inc. | Base Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate (as percent)		1.25%

Debt - eOne IP Credit Facility

Debt - eOne IP Credit Facility - Narrative (Details) - Secured Debt - Line of Credit - eOne IP Credit Facility $ in Millions	9 Months Ended
	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Credit facility, maximum principal amount	$ 340
Periodic payment, principal	$ 8.5
Basis spread on variable interest rate (as percent)	2.25%
Effective interest rate (as percent)	6.58%

Debt - LG IP Credit Facility -

Debt - LG IP Credit Facility - Narrative (Details) - Secured Debt - LG IP Credit Facility - Line of Credit - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Debt Instrument [Line Items]
Credit facility, maximum principal amount	$ 850,000	$ 455,000
Periodic payment, principal	$ 21,250
Basis spread on variable interest rate (as percent)	2.25%
Effective interest rate (as percent)	6.58%

Debt - Lionsgate Exchange Notes

Debt - Lionsgate Exchange Notes and Existing Notes - Narrative (Details) - USD ($) $ in Millions	May 08, 2024	Dec. 31, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Total corporate debt		$ 2,020.3	$ 1,793.5
Exchange Notes | Senior Notes
Debt Instrument [Line Items]
Debt conversion, original debt, amount	$ 389.9
Coupon rate (as percent)	5.50%
Exchange Notes | Senior Notes | Maximum
Debt Instrument [Line Items]
Coupon rate (as percent)	6%
Existing Notes | Senior Notes
Debt Instrument [Line Items]
Coupon rate (as percent)	5.50%
Exchange Notes and Existing Notes | Senior Notes
Debt Instrument [Line Items]
Total corporate debt		$ 715	$ 715

Debt - Other Debt Transactions

Debt - Other Debt Transactions - Narrative (Details) - Term Loans - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2024	Sep. 30, 2024	May 31, 2024
LGTV Term Loan A
Extinguishment of Debt [Line Items]
Principal amount of debt prepaid			$ 84.9
LGTV Term Loan B
Extinguishment of Debt [Line Items]
Principal amount of debt prepaid	$ 250	$ 355.1	$ 214.1

Debt - Schedule of Loss on Exti

Debt - Schedule of Loss on Extinguishment of Debt (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Extinguishment of Debt [Line Items]
Loss on Extinguishment of Debt:	$ (0.3)	$ 0	$ (1.8)	$ 0
Term Loan A and Term Loan B Repayment
Extinguishment of Debt [Line Items]
Loss on Extinguishment of Debt:	$ (0.3)	$ 0	$ (1.8)	$ 0

Film Related Obligations - Sche

Film Related Obligations - Schedule of Components (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Film Related Obligations [Abstract]
Production Loans	$ 1,346	$ 1,292.2
Production Tax Credit Facility	257.8	260
Backlog Facility and Other	179	287.3
Film Library Facility	87.5	109.9
Total film related obligations	1,870.3	1,949.4
Unamortized issuance costs	(5.9)	(11.4)
Total film related obligations, net	1,864.4	1,938
Less current portion	(1,421.2)	(1,393.1)
Total non-current film related obligations	$ 443.2	$ 544.9

Film Related Obligations - Narr

Film Related Obligations - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2024	Feb. 10, 2025	Mar. 31, 2024
Production Loans	$ 1,346		$ 1,292.2
Accounts receivable	489.2		688.6
Total corporate debt	2,020.3		1,793.5
Unsecured Debt
Production Loans	133.2
Secured Debt
Production Loans	$ 1,212.8
Production Loans
Production loans or other loans, weighted average interest rate (as percent)	5.82%
Production Tax Credit Facility | Revolving Credit Facility
Credit facility, maximum principal amount	$ 260
Collateral	353.1
Credit facility, available amount	$ 2.2
Production Tax Credit Facility | Revolving Credit Facility | Subsequent Event
Credit facility, maximum principal amount		$ 280
Production Tax Credit Facility | Revolving Credit Facility | SOFR
Effective interest rate (as percent)	5.93%
Production Tax Credit Facility | Revolving Credit Facility | SOFR | Minimum
Basis spread on variable interest rate (as percent)	0.10%
Production Tax Credit Facility | Revolving Credit Facility | SOFR | Maximum
Basis spread on variable interest rate (as percent)	0.25%
Production Tax Credit Facility | Revolving Credit Facility | Base Rate
Basis spread on variable interest rate (as percent)	0.50%
Production Tax Credit Facility | Revolving Credit Facility | Applicable Margin
Basis spread on variable interest rate (as percent)	1.50%
Film Library Facility | Secured Debt
Credit facility, maximum principal amount	$ 161.9
Film Library Facility | Secured Debt | SOFR
Effective interest rate (as percent)	6.75%
Film Library Facility | Secured Debt | SOFR | Minimum
Basis spread on variable interest rate (as percent)	0.11%
Floor on SOFR (as percent)	0.25%
Film Library Facility | Secured Debt | SOFR | Maximum
Basis spread on variable interest rate (as percent)	0.26%
Film Library Facility | Secured Debt | Base Rate
Basis spread on variable interest rate (as percent)	1.25%
Film Library Facility | Secured Debt | Applicable Margin
Basis spread on variable interest rate (as percent)	2.25%
Backlog Facility | Secured Debt
Credit facility, maximum principal amount	$ 175
Credit facility, available amount	0
Credit facility, outstanding amount	$ 151.9		175
Backlog Facility | Secured Debt | SOFR
Effective interest rate (as percent)	5.58%
Backlog Facility | Secured Debt | Applicable Margin
Basis spread on variable interest rate (as percent)	1.15%
Backlog Facility | Revolving Credit Facility
Debt instrument, term	2 years 90 days
Backlog Facility | Revolving Credit Facility | SOFR | Minimum
Basis spread on variable interest rate (as percent)	0.10%
Backlog Facility | Revolving Credit Facility | SOFR | Maximum
Basis spread on variable interest rate (as percent)	0.25%
Backlog Facility | Revolving Credit Facility | Applicable Margin | Minimum
Basis spread on variable interest rate (as percent)	1.25%
Backlog Facility | Revolving Credit Facility | Applicable Margin | Maximum
Basis spread on variable interest rate (as percent)	1.50%
Distribution Loan Agreement | Loans Payable
Production loans or other loans, weighted average interest rate (as percent)	5.76%
Loan amount	$ 27.1		112.3
Accounts receivable	20.8
Other receivables	11
Programming Notes | Starz Business
Total corporate debt	$ 75.8		$ 0

Film Related Obligations - Sc_2

Film Related Obligations - Schedule of Cumulative Minimum Guaranteed Payments of Film Library Facility (Details) - Secured Debt - Film Library Facility $ in Millions	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
November 14, 2025	$ 91.1
November 14, 2026	121.4
July 30, 2027	$ 161.9

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Assets:
Forward exchange contracts (see Note 18)	$ 1.9	$ 0
Interest rate swaps (see Note 18)	0.7	35.6
Liabilities:
Forward exchange contracts (see Note 18)	0	(2.8)
Interest rate swaps (see Note 18)	0	0
Level 1
Assets:
Forward exchange contracts (see Note 18)	0	0
Interest rate swaps (see Note 18)	0	0
Liabilities:
Forward exchange contracts (see Note 18)	0	0
Interest rate swaps (see Note 18)	0	0
Level 2
Assets:
Forward exchange contracts (see Note 18)	1.9	0
Interest rate swaps (see Note 18)	0.7	35.6
Liabilities:
Forward exchange contracts (see Note 18)	0	(2.8)
Interest rate swaps (see Note 18)	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Carrying Values and Fair Values of Company’s Outstanding Debt, Film Related Obligations, and Interest Rate Swaps (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Intercompany Revolver | Carrying Value | Revolving Credit Facility
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	$ 134.4	$ 0
Intercompany Revolver | Fair Value | Revolving Credit Facility | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	134.4	0
LGTV Revolver | Carrying Value | Revolving Credit Facility
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	386.8	569.9
LGTV Revolver | Fair Value | Revolving Credit Facility | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	390	575
LGTV Term Loan A | Carrying Value | Term Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	313.1	396.6
LGTV Term Loan A | Fair Value | Term Loans | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	313.6	397.3
LGTV Term Loan B | Carrying Value | Term Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	0	816.9
LGTV Term Loan B | Fair Value | Term Loans | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	0	818.1
eOne IP Credit Facility | Carrying Value | Line of Credit
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	325.8	0
eOne IP Credit Facility | Fair Value | Line of Credit | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	331.5	0
LG IP Credit Facility | Carrying Value | Line of Credit
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	836	0
LG IP Credit Facility | Fair Value | Line of Credit | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	850	0
Production Loans | Carrying Value | Production Loans
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	1,342.3	1,286.2
Production Loans | Fair Value | Production Loans | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Loans, fair value disclosure	1,346	1,292.2
Production Tax Credit Facility | Carrying Value | Line of Credit
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	257.7	258.7
Production Tax Credit Facility | Fair Value | Line of Credit | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Line of credit facility, fair value disclosure	257.8	260
Backlog Facility and Other | Carrying Value | Secured Debt
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	178.6	285.4
Backlog Facility and Other | Fair Value | Secured Debt | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	179	287.3
Film Library Facility | Carrying Value | Secured Debt
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	85.7	107.6
Film Library Facility | Fair Value | Secured Debt | Level 2
Fair Value, Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis [Line Items]
Backlog Facility and Other, IP Credit Facility and Financing component of interest rate swaps, fair value disclosure	$ 87.5	$ 109.9

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Changes in Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 123.3	$ 343.6
Net loss attributable to redeemable noncontrolling interests	(1.6)	(7.3)
Adjustments to redemption value	0.9	71.5
Cash contributions (distributions)	0.5	(1)
Purchase of noncontrolling interest	(23.4)	(0.6)
Ending balance	$ 99.7	$ 406.2

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 31, 2024	Jul. 31, 2024	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Jan. 31, 2027	Jun. 05, 2024
Redeemable Noncontrolling Interest [Line Items]
Purchase of noncontrolling interest	$ 194.1			$ 7.4	$ 0.6
Decrease from redemptions				23.4	$ 0.6
Accumulated deficit			$ (1,249.1)	(1,446.4)
Noncontrolling interests			2.2	31.1
3 Arts Entertainment
Redeemable Noncontrolling Interest [Line Items]
Increase in ownership percentage	25%
Temporary equity, other changes			$ 93.2
3 Arts Entertainment | Forecast
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling owner's right to purchase remaining ownership interest of parent (as a percent)						24%
Pilgrim Media Group
Redeemable Noncontrolling Interest [Line Items]
Purchase of noncontrolling interest		$ 13.5
Ownership percentage		12.50%
Decrease from redemptions		$ 23.4
Accumulated deficit		$ 9.9
CP LG Library Holdings, LLC
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership (as Percent)							49%
Noncontrolling interests				$ 29.8			$ 33.6

Revenue - Schedule of Revenues

Revenue - Schedule of Revenues by Segment, Market or Product Line (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 713.8	$ 691.6	$ 2,125.8	$ 2,106.3
Motion Picture
Disaggregation of Revenue [Line Items]
Revenue	309.2	443.2	1,063.3	1,245.6
Television Production
Disaggregation of Revenue [Line Items]
Revenue	404.6	248.4	1,062.5	860.7
Operating Segments | Motion Picture
Disaggregation of Revenue [Line Items]
Revenue	309.2	443.2	1,063.3	1,245.6
Operating Segments | Motion Picture | Starz Business
Disaggregation of Revenue [Line Items]
Revenue	9.9	36.6	146.2	113.7
Operating Segments | Motion Picture | Theatrical
Disaggregation of Revenue [Line Items]
Revenue	35	100.1	91.1	194.2
Operating Segments | Motion Picture | Total Home Entertainment
Disaggregation of Revenue [Line Items]
Revenue	161.7	176.5	438.1	558.3
Operating Segments | Motion Picture | Digital Media
Disaggregation of Revenue [Line Items]
Revenue	145.7	155.5	400.3	495.3
Operating Segments | Motion Picture | Packaged Media
Disaggregation of Revenue [Line Items]
Revenue	16	21	37.8	63
Operating Segments | Motion Picture | Television
Disaggregation of Revenue [Line Items]
Revenue	38.3	65.3	235	214.5
Operating Segments | Motion Picture | International
Disaggregation of Revenue [Line Items]
Revenue	68.3	94.7	284.3	255.3
Operating Segments | Motion Picture | Other
Disaggregation of Revenue [Line Items]
Revenue	5.9	6.6	14.8	23.3
Operating Segments | Television Production
Disaggregation of Revenue [Line Items]
Revenue	404.6	248.4	1,062.5	860.7
Operating Segments | Television Production | Starz Business
Disaggregation of Revenue [Line Items]
Revenue	77.9	97.1	267.3	308.4
Operating Segments | Television Production | Total Home Entertainment
Disaggregation of Revenue [Line Items]
Revenue	57.2	17.7	111.7	114.4
Operating Segments | Television Production | Digital Media
Disaggregation of Revenue [Line Items]
Revenue	55.5	17.4	108.7	113.4
Operating Segments | Television Production | Packaged Media
Disaggregation of Revenue [Line Items]
Revenue	1.7	0.3	3	1
Operating Segments | Television Production | Television
Disaggregation of Revenue [Line Items]
Revenue	259.9	182.3	733.1	554.2
Operating Segments | Television Production | International
Disaggregation of Revenue [Line Items]
Revenue	59.3	32.1	144.8	137.7
Operating Segments | Television Production | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 28.2	$ 16.3	$ 72.9	$ 54.4

Revenue - Schedule of Revenue_2

Revenue - Schedule of Revenues Expected to be Recognized in Future Related to Performance Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 1,726
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 618.4
Remaining Performance Obligations, performance period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 783.7
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 184.9
Remaining Performance Obligations, performance period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 139
Remaining Performance Obligations, performance period

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue recognized in period from performance obligations satisfied in previous period	$ 46.3	$ 204.2
Revenues recognized	$ 12	$ 120.6

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Provision for Doubtful Accounts (Details) $ in Millions	9 Months Ended
	Dec. 31, 2024 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6.4
(Benefit) provision for doubtful accounts	(0.9)
Other	2.5
Uncollectible accounts written-off	(1)
Ending balance	$ 7

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net income (loss) attributable to Lionsgate Studios Corp. shareholders	$ 6.4	$ (41.1)	$ (150.4)	$ (46.5)
Accretion of redeemable noncontrolling interest	(0.3)	0	(1)	0
Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest, basic	6.1	(41.1)	(151.4)	(46.5)
Net income (loss) attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest, diluted	$ 6.1	$ (41.1)	$ (151.4)	$ (46.5)
Denominator:
Weighted average common shares outstanding, basic (in shares)	288.7	253.4	283.3	253.4
Weighted average common shares outstanding, diluted (in shares)	288.7	253.4	283.3	253.4
Basic net income (loss) per common share (in dollars per share)	$ 0.02	$ (0.16)	$ (0.53)	$ (0.18)
Diluted net income (loss) per common share (in dollars per share)	$ 0.02	$ (0.16)	$ (0.53)	$ (0.18)

Net Income (Loss) Per Share - N

Net Income (Loss) Per Share - Narrative (Details)	May 13, 2024 shares
Earnings Per Share [Abstract]
Shares issued to Lionsgate (in shares)	253,435,794

Net Income (Loss) Per Share -_2

Net Income (Loss) Per Share - Schedule of Outstanding Common Shares Issuable Excluded from Diluted Net Income (Loss) Per Common Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
SEAC Sponsor Options
Anti-dilutive shares issuable [Line Items]
Anti-dilutive shares issuable (in shares)	2.2	0	2.2	0

Capital Stock - Narrative (Deta

Capital Stock - Narrative (Details) - $ / shares	Dec. 31, 2024	May 13, 2024	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)	288,700,000		253,400,000
Common shares exceeds price per share (in dollars per share)	$ 16.05
SEAC Sponsor Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)		2,200,000
Sponsor Option Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)		$ 0.0001

Capital Stock - Schedule of Sha

Capital Stock - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	$ 14.3	$ 12.7	$ 31.4	$ 34.2
Corporate allocation of share-based compensation	0	4.5	10.8	12.1
Share-based payment arrangement, total	14.3	17.2	42.2	46.3
Impact of accelerated vesting on equity awards	0	6.8	4.7	7.3
Total share-based compensation expense	14.3	24	46.9	53.6
Stock options
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	0.2	0.4	0.6	1.4
Restricted share units and other share-based compensation
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	13.9	12.2	30.3	32.6
Share appreciation rights
Share-Based Compensation Expense [Line Items]
Total Lionsgate Studios employee share-based compensation expense	$ 0.2	$ 0.1	$ 0.5	$ 0.2

Capital Stock - Schedule of S_2

Capital Stock - Schedule of Share-Based Compensation Expense, by Expense Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 14.3	$ 24	$ 46.9	$ 53.6
General and administration
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	14.3	17.2	42.2	46.3
Restructuring and other
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 0	$ 6.8	$ 4.7	$ 7.3

Capital Stock - Schedule of Sto

Capital Stock - Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity (Details) shares in Millions	9 Months Ended
	Dec. 31, 2024 $ / shares shares
Lions Gate Class A Voting Shares | Stock Options and SARs
Number of Shares
Outstanding, beginning balance (in shares)	2.4
Granted (in shares)	0
Options exercised or restricted stock or RSUs vested (in shares)	0
Forfeited or expired (in shares)	(0.1)
Outstanding, ending balance (in shares)	2.3
Weighted-Average Exercise Price
Outstanding, beginning balance (in USD per share) | $ / shares	$ 22.96
Granted, weighted average exercise price (in USD per share) | $ / shares	0
Options exercised or restricted stock or RSUs vested, weighted average exercise price (in USD per share) | $ / shares	0
Forfeited or expired, weighted average exercise price (in USD per share) | $ / shares	20.26
Outstanding, ending balance (in USD per share) | $ / shares	$ 23.10
Weighted-Average Grant-Date Fair Value
Granted in shares (less than)	0
Lions Gate Class A Voting Shares | Restricted Stock and Restricted Share Units (RSUs)
Number of Shares
Outstanding, beginning balance (in shares)	0.1
Granted (in shares)	0.1
Options exercised or restricted stock or RSUs vested (in shares)	(0.1)
Forfeited or expired (in shares)	0
Outstanding, ending balance (in shares)	0.1
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in USD per share) | $ / shares	$ 9.27
Granted, weighted average grant date fair value (in USD per share) | $ / shares	8.20
Options exercised or restricted stock or RSUs vested, weighted average grant-date fair value (in USD per share) | $ / shares	9.20
Forfeited or expired, weighted average grant-date fair value (in USD per share) | $ / shares	0
Outstanding, ending balance (in USD per share) | $ / shares	$ 8.39
Lions Gate Class B Non-Voting Shares | Stock Options and SARs
Number of Shares
Outstanding, beginning balance (in shares)	17.1
Granted (in shares)	0.1
Options exercised or restricted stock or RSUs vested (in shares)	(0.1)
Forfeited or expired (in shares)	(2.2)
Outstanding, ending balance (in shares)	14.8
Weighted-Average Exercise Price
Outstanding, beginning balance (in USD per share) | $ / shares	$ 13.92
Granted, weighted average exercise price (in USD per share) | $ / shares	7.12
Options exercised or restricted stock or RSUs vested, weighted average exercise price (in USD per share) | $ / shares	5.50
Forfeited or expired, weighted average exercise price (in USD per share) | $ / shares	14.64
Outstanding, ending balance (in USD per share) | $ / shares	$ 13.86
Weighted-Average Grant-Date Fair Value
Granted in shares (less than)	0.1
Lions Gate Class B Non-Voting Shares | Restricted Stock and Restricted Share Units (RSUs)
Number of Shares
Outstanding, beginning balance (in shares)	9.8
Granted (in shares)	8.1
Options exercised or restricted stock or RSUs vested (in shares)	(5.8)
Forfeited or expired (in shares)	(0.6)
Outstanding, ending balance (in shares)	11.5
Weighted-Average Grant-Date Fair Value
Outstanding, beginning balance (in USD per share) | $ / shares	$ 8.93
Granted, weighted average grant date fair value (in USD per share) | $ / shares	7.98
Options exercised or restricted stock or RSUs vested, weighted average grant-date fair value (in USD per share) | $ / shares	8.79
Forfeited or expired, weighted average grant-date fair value (in USD per share) | $ / shares	8.52
Outstanding, ending balance (in USD per share) | $ / shares	$ 8.20

Restructuring and Other - Sched

Restructuring and Other - Schedule of Restructuring and Other and Other Unusual Charges or Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 40.9	$ 52.5	$ 75.8	$ 61.5
Total restructuring and other and other unusual charges not included in restructuring and other	45	52.5	88.3	61
Content impairment	$ 7.3		7.3
Number of positions eliminated, period percent	8%
Expected cost	$ 26.1		26.1
Severance costs	14.6		14.6
Insurance recoveries	0	0.1	2.1	0.6
Corporate and Reconciling Items
Restructuring Cost and Reserve [Line Items]
Restructuring and other	40.9	52.5	75.8	61.5
COVID-19 related (charges) benefit included in direct operating expense	0	0	(2.1)	(0.5)
Unallocated rent cost included in direct operating expense	4.1	0	14.6	0
Direct Operating Expense
Restructuring Cost and Reserve [Line Items]
COVID-19 related (charges) benefit included in direct operating expense	0	0	(2.1)	(0.5)
Content and other impairments
Restructuring Cost and Reserve [Line Items]
Restructuring and other	7.3	0	25.8	0
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other	20.3	28.1	24.6	31.6
Restructuring charges			19.9	24.3
Transaction and Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 13.3	24.4	$ 25.4	29.9
COVID-19 related (charges) benefit included in direct operating expense		$ 16.6		$ 16.6
Transaction and Other Costs | Consolidated Entity
Restructuring Cost and Reserve [Line Items]
Ownership percentage		51%		51%

Restructuring and Other - Sch_2

Restructuring and Other - Schedule of Changes in Restructuring and Other Severance Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Restructuring and Other Severance Liability
Amount included in restructuring and other	$ 0	$ 6.8	$ 4.7	$ 7.3
Severance liability
Restructuring and Other Severance Liability
Beginning balance			19.3	3.7
Accruals			19.9	24.3
Severance payments			(16)	(5.4)
Ending balance	23.2	$ 22.6	23.2	$ 22.6
Remaining severance liability, expected to be paid in next 12 months	$ 23.2		$ 23.2

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Segment revenues	$ 713.8	$ 691.6	$ 2,125.8	$ 2,106.3
Gross contribution	181.4	149.1	391.4	454.9
Segment general and administration	36.9	40.6	122.9	123.7
Segment profit	144.5	108.5	268.5	331.2
Motion Picture
Segment Reporting Information [Line Items]
Segment revenues	309.2	443.2	1,063.3	1,245.6
Gross contribution	106	127.5	246.1	320.3
Segment general and administration	22.4	27.1	73.6	83.2
Segment profit	83.6	100.4	172.5	237.1
Television Production
Segment Reporting Information [Line Items]
Segment revenues	404.6	248.4	1,062.5	860.7
Gross contribution	75.4	21.6	145.3	134.6
Segment general and administration	14.5	13.5	49.3	40.5
Segment profit	$ 60.9	$ 8.1	$ 96	$ 94.1

Segment Information - Schedul_2

Segment Information - Schedule of Reconciliation of Total Segment Profit to the Company's Loss Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Company’s total segment profit	$ 144.5	$ 108.5	$ 268.5	$ 331.2
Adjusted depreciation and amortization	(3.4)	(1.8)	(10.1)	(7.1)
Restructuring and other	(40.9)	(52.5)	(75.8)	(61.5)
Adjusted share-based compensation expense	(14.3)	(17.2)	(42.2)	(46.3)
Operating income	49.6	7.3	30.5	120.1
Interest expense	(58.5)	(55.5)	(180.1)	(157.1)
Interest and other income	3.1	1.7	11.4	6.9
Other gains (losses), net	10.1	(0.6)	(5.2)	(14.3)
Loss on extinguishment of debt	(0.3)	0	(1.8)	0
Gain on investments, net	0	4.4	0	2.7
Equity interests income	7.6	4.2	8.5	5.7
Income (loss) before income taxes	11.6	(38.5)	(136.7)	(36)
Operating Segments
Segment Reporting Information [Line Items]
Company’s total segment profit	144.5	108.5	268.5	331.2
Corporate
Segment Reporting Information [Line Items]
Corporate general and administrative expenses	(28.4)	(25.2)	(87.6)	(76.2)
Corporate and Reconciling Items
Segment Reporting Information [Line Items]
Adjusted depreciation and amortization	(3.4)	(1.8)	(10.1)	(7.1)
Restructuring and other	(40.9)	(52.5)	(75.8)	(61.5)
COVID-19 related benefit (charges) included in direct operating expense	0	0	2.1	0.5
Content charges	0	(0.3)	0	(1.1)
Unallocated rent cost included in direct operating expense	(4.1)	0	(14.6)	0
Adjusted share-based compensation expense	(14.3)	(17.2)	(42.2)	(46.3)
Purchase accounting and related adjustments	$ (3.8)	$ (4.2)	$ (9.8)	$ (19.4)

Segment Information - Schedul_3

Segment Information - Schedule of Adjusted Depreciation and Amortization (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ 4.4	$ 3	$ 13.2	$ 11.1
Adjusted depreciation and amortization	3.4	1.8	10.1	7.1
Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted depreciation and amortization	3.4	1.8	10.1	7.1
Purchase Accounting and Related Adjustments | Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	$ (1)	$ (1.2)	$ (3.1)	$ (4)

Segment Information - Schedul_4

Segment Information - Schedule of Adjusted Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total share-based compensation expense	$ 14.3	$ 24	$ 46.9	$ 53.6
Amount included in restructuring and other	0	(6.8)	(4.7)	(7.3)
Adjusted share-based compensation	14.3	17.2	42.2	46.3
Restructuring and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total share-based compensation expense	0	6.8	4.7	7.3
Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted share-based compensation	14.3	17.2	42.2	46.3
Corporate and Reconciling Items | Restructuring and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Amount included in restructuring and other	$ 0	$ (6.8)	$ (4.7)	$ (7.3)

Segment Information - Schedul_5

Segment Information - Schedule of Purchase Accounting and Related Adjustments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	$ 3.8	$ 4.2	$ 9.8	$ 19.4
General and Administrative Expense
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	2.8	3	6.7	15.4
General and Administrative Expense | Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	2.8	3	6.7	15.4
Purchase accounting and related adjustments, amortization of purchase price				1.3
Depreciation and Amortization Expense | Corporate and Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Purchase accounting and related adjustments:	$ 1	$ 1.2	$ 3.1	$ 4

Segment Information - Schedul_6

Segment Information - Schedule of Reconciliation of Segment General and Administrative Expense to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	$ 36.9	$ 40.6	$ 122.9	$ 123.7
General and administration	82.4	86	259.4	261.6
Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Segment general and administrative expenses	36.9	40.6	122.9	123.7
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Corporate general and administrative expenses	28.4	25.2	87.6	76.2
Corporate and Reconciling Items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	3.8	4.2	9.8	19.4
General and Administrative Expense
Segment Reporting, Other Significant Reconciling Item [Line Items]
Purchase accounting and related adjustments	2.8	3	6.7	15.4
General and Administrative Expense | Corporate and Reconciling Items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Share-based compensation expense included in general and administrative expense	14.3	17.2	42.2	46.3
Purchase accounting and related adjustments	$ 2.8	$ 3	$ 6.7	$ 15.4

Segment Information - Schedul_7

Segment Information - Schedule of Reconciliation of Total Segment Assets to Total Consolidated Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,374.5	$ 5,103
Operating Segments | Motion Picture
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,916.8	1,851.4
Operating Segments | Television Production
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,555.6	2,347.8
Operating Segments | Other unallocated assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	902.1	903.8
Other Unallocated Assets
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,374.5	$ 5,103

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Schedule of Outstanding Forward Foreign Exchange Contracts (Details) € in Millions, £ in Millions, Kč in Millions, Ft in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	9 Months Ended
	Dec. 31, 2024 GBP (£)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CZK (Kč)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 CAD ($)	Dec. 31, 2024 MXN ($)	Dec. 31, 2024 HUF (Ft)	Dec. 31, 2024 NZD ($)
Derivative [Line Items]
Remaining maturity of forward foreign exchange contracts (in months)	16 months
British Pound Sterling | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount	£ 0.2	$ 0.3
Weighted Average Exchange Rate Per $1 USD	0.77	0.77	0.77	0.77	0.77	0.77	0.77	0.77
Czech Koruna | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 7.7	Kč 180
Weighted Average Exchange Rate Per $1 USD	23.29	23.29	23.29	23.29	23.29	23.29	23.29	23.29
Euro | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 14.6		€ 13.9
Weighted Average Exchange Rate Per $1 USD	0.94	0.94	0.94	0.94	0.94	0.94	0.94	0.94
Canadian Dollar | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 6.2			$ 8.5
Weighted Average Exchange Rate Per $1 USD	1.37	1.37	1.37	1.37	1.37	1.37	1.37	1.37
Mexican Peso | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 1				$ 20.7
Weighted Average Exchange Rate Per $1 USD	20.43	20.43	20.43	20.43	20.43	20.43	20.43	20.43
Hungarian Forint | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 15					Ft 5,612.8
Weighted Average Exchange Rate Per $1 USD	373.74	373.74	373.74	373.74	373.74	373.74	373.74	373.74
New Zealand Dollar | Forward exchange contracts
Derivative [Line Items]
US Dollar Amount or Notional Amount		$ 1.7						$ 2.7
Weighted Average Exchange Rate Per $1 USD	1.67	1.67	1.67	1.67	1.67	1.67	1.67	1.67

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Pay-Fixed Interest Rate Swaps, Designated as Cash Flow Hedges Outstanding (Details) - Designated as Hedging Instrument - Interest rate swaps - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Derivative [Line Items]
Notional Amount	$ 345	$ 1,700
Interest Rate Swap, Fixed Rate Paid 2.915%, Effective Date May 23, 2018
Derivative [Line Items]
Notional Amount		$ 300
Fixed rate paid (as percent)		2.915%
Interest Rate Swap 2, Fixed Rate Paid 2.915%, Effective Date May 23, 2018
Derivative [Line Items]
Notional Amount		$ 700
Fixed rate paid (as percent)		2.915%
Interest Rate Swap, Fixed Rate Paid 2.723%, Effective Date June 25, 2018
Derivative [Line Items]
Notional Amount		$ 200
Fixed rate paid (as percent)		2.723%
Interest Rate Swap, Fixed Rate Paid 2.885%, Effective Date July 31, 2018
Derivative [Line Items]
Notional Amount		$ 300
Fixed rate paid (as percent)		2.885%
Interest Rate Swap, Fixed Rate Paid 2.744%, Effective Date December 24, 2018
Derivative [Line Items]
Notional Amount		$ 50
Fixed rate paid (as percent)		2.744%
Interest Rate Swap, Fixed Rate Paid 2.808%, Effective Date December 24, 2018
Derivative [Line Items]
Notional Amount		$ 100
Fixed rate paid (as percent)		2.808%
Interest Rate Swap, Fixed Rate Paid 2.728%, Effective Date December 24, 2018
Derivative [Line Items]
Notional Amount		$ 50
Fixed rate paid (as percent)		2.728%
Interest Rate Swap, Fixed Rate Paid 4.045%, Effective Date August 15, 2024
Derivative [Line Items]
Notional Amount	$ 65
Fixed rate paid (as percent)	4.045%
Interest Rate Swap, Fixed Rate Paid 3.803%, Effective Date August 15, 2024
Derivative [Line Items]
Notional Amount	$ 77.5
Fixed rate paid (as percent)	3.803%
Interest Rate Swap, Fixed Rate Paid 3.810%, Effective Date August 15, 2024
Derivative [Line Items]
Notional Amount	$ 77.5
Fixed rate paid (as percent)	3.81%
Interest Rate Swap, Fixed Rate Paid 3.970%, Effective Date December 15, 2024
Derivative [Line Items]
Notional Amount	$ 125
Fixed rate paid (as percent)	3.97%

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Pre-Tax Effect of Derivatives on Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total direct operating expense on consolidated statements of operations	$ 457.1	$ 433.6	$ 1,440.9	$ 1,306
Total interest expense on consolidated statements of operations	58.5	55.5	180.1	157.1
Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive income (loss)	2.4	(4.3)	3.5	(7.3)
Gain (loss) reclassified from accumulated other comprehensive (income) loss	(0.1)	(2.6)	(1.2)	(2.5)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in accumulated other comprehensive income (loss)	1.6	(11.7)	(1.1)	24.7
Gain (loss) reclassified from accumulated other comprehensive (income) loss	2	11.4	24.3	31.5
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense	$ 1.4	$ (1.8)	$ (1.7)	$ (5.5)

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Schedule of Amounts Recorded in Accompanying Unaudited Condensed Consolidated Balance Sheets Related to Use of Derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Derivatives, Fair Value [Line Items]
Derivative asset, current	$ 0	$ 35.6
Derivative asset, noncurrent	$ 0.7	$ 0
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other assets
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative asset, current	$ 1.9	$ 35.6
Derivative asset, noncurrent	0.7
Derivative liability, current	0	2.8
Designated as Hedging Instrument | Forward exchange contracts
Derivatives, Fair Value [Line Items]
Derivative asset, current	1.9	0
Derivative asset, noncurrent	0
Derivative liability, current	0	2.8
Designated as Hedging Instrument | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative asset, current	0	35.6
Derivative asset, noncurrent	0.7
Derivative liability, current	$ 0	$ 0

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Millions	1 Months Ended
	Dec. 31, 2024 USD ($)
Derivative [Line Items]
Foreign currency cash flow hedge gains estimated to be reclassified into earnings during next 12 months	$ 1.3
Interest rate swap cash flow hedge gain estimated to be reclassified into earnings during next 12 months	26.7
Interest rate swaps | Designated as Hedging Instrument
Derivative [Line Items]
Unrealized gain on derivatives	$ 9.4

Additional Financial Informat_3

Additional Financial Information - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 186.2	$ 277
Restricted cash included in other current assets	42.8	43.7
Restricted cash included in other non-current assets	10.8	13.7
Total cash, cash equivalents and restricted cash	$ 239.8	$ 334.4	$ 297.4	$ 251.4

Additional Financial Informat_4

Additional Financial Information - Schedule of Receivables Transferred Under Individual Agreements or Purchases (Details) - Individual Monetization Agreements - Trade Accounts Receivable - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Carrying value of receivables transferred and derecognized	$ 51.7	$ 85.3	$ 345.5	$ 385.8
Net cash proceeds received	50	81.8	335.7	370.7
Loss recorded related to transfers of receivables	$ 1.7	$ 3.5	$ 9.8	$ 15.1

Additional Financial Informat_5

Additional Financial Information - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2019	Dec. 31, 2024	Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Employee-related liabilities		$ 40.7	$ 116.2
Individual Monetization Agreements | Trade Accounts Receivable
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derecognized accounts receivable for which the company continues to service, amount outstanding		399.6	449.2
Pooled Monetization Agreements | Trade Accounts Receivable
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derecognized accounts receivable for which the company continues to service, amount outstanding		$ 0	$ 0
Revolving agreement, maximum amount of receivables allowed to transfer	$ 100

Additional Financial Informat_6

Additional Financial Information - Schedule of Receivables Transferred Under Pooled Monetization Agreement (Details) - Trade Accounts Receivable - Pooled Monetization Agreements - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Transfer of Financial Assets Accounted for as Sales [Line Items]
Gross cash proceeds received for receivables transferred and derecognized		$ 22.2
Less amounts from collections reinvested under revolving agreement		(9.1)
Proceeds from new transfers		13.1
Collections not reinvested and remitted or to be remitted		(13.4)
Net cash proceeds received (paid or to be paid)(1)		(0.3)
Carrying value of receivables transferred and derecognized		22.1
Obligations recorded		2.1
Loss recorded related to transfers of receivables		2
Purchases of previously transferred financial assets	$ 46	$ 46

Additional Financial Informat_7

Additional Financial Information - Schedule of Composition of Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Other current assets
Prepaid expenses and other	$ 38	$ 34.8
Restricted cash	42.8	43.7
Contract assets	72.5	59.9
Interest rate swap assets	0	35.6
Tax credits receivable	140.7	199.1
Other current assets	294	373.1
Other non-current assets
Prepaid expenses and other	16.9	18.3
Restricted cash	10.8	13.7
Accounts receivable	48	111.7
Contract assets	10.3	3.2
Tax credits receivable	440.6	361.7
Operating lease right-of-use assets	300.1	344.3
Interest rate swap assets	0.7	0
Other non-current assets	$ 827.4	$ 852.9

Additional Financial Informat_8

Additional Financial Information - Schedule of Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (1,150.2)	$ (778.9)
Other comprehensive income (loss)	(10.5)	19.2
Reclassifications to net loss	(21.4)	(23.5)
Ending balance	(1,049.8)	(991.5)
Income tax expense (benefit) reflected in other comprehensive income	0	0
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(42.1)	(41.1)
Other comprehensive income (loss)	(12.8)	1.8
Reclassifications to net loss	0	0
Ending balance	(54.9)	(39.3)
Net unrealized gain (loss) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	138.8	142.6
Other comprehensive income (loss)	2.3	17.4
Reclassifications to net loss	(21.4)	(23.5)
Ending balance	119.7	136.5
Net unrealized gain (loss) on cash flow hedges | Direct Operating Expense
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications to net loss	1.2	2.5
Net unrealized gain (loss) on cash flow hedges | Interest Expense
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications to net loss	(22.6)	(26)
Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	96.7	101.5
Ending balance	$ 64.8	$ 97.2

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	May 09, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
General and administration		$ 82.4	$ 86	$ 259.4	$ 261.6
Corporate
Related Party Transaction [Line Items]
Corporate general and administrative expenses		28.4	25.2	87.6	76.2
Related Party | Lionsgate Corporate
Related Party Transaction [Line Items]
General and administration		28.4		87.6
General and Administrative Expenses Allocated to Parent | Related Party
Related Party Transaction [Line Items]
Amounts of transaction	$ 10
Expenses Allocated After Separation | Related Party | Lionsgate Corporate
Related Party Transaction [Line Items]
General and administration		$ 28.4		73.4
Corporate Expense Allocation Excluding Share-Based Compensation | Corporate
Related Party Transaction [Line Items]
Corporate general and administrative expenses			$ 25.2	$ 14.2	$ 76.2

Related Party Transactions - Sc

Related Party Transactions - Schedule of Net Transfers (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows	$ 95.5	$ 127.6
Related Party
Related Party Transaction [Line Items]
Cash pooling and general financing activities	88.8	(241.7)
Licensing of content	9.7	428.8
Corporate reimbursements	(5.3)	5.9
Corporate expense allocations (excluding allocation of share-based compensation)	2.3	20.2
Funding of purchases of accounts receivables held for collateral	0	(85.6)
Net transfers to (from) Parent per unaudited condensed consolidated statements of cash flows	95.5	127.6
Share-based compensation (including allocation of share-based compensation)	(6)	(53.6)
Other non-cash transfer	(33.7)	16.6
Net transfers to (from) Parent per unaudited condensed consolidated statements of equity (deficit)	55.8	$ 90.6
Transfers to parent, net	$ 35

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Feb. 10, 2025	Jan. 31, 2025	Dec. 31, 2024	Mar. 31, 2024
Revolving Credit Facility | Production Tax Credit Facility
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity			$ 260
Interest rate swaps | Designated as Hedging Instrument
Subsequent Event [Line Items]
Notional Amount			$ 345	$ 1,700
Subsequent Event | Revolving Credit Facility | Production Tax Credit Facility
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 280
Subsequent Event | Interest rate swaps | Designated as Hedging Instrument
Subsequent Event [Line Items]
Notional Amount		$ 100
Fixed rate paid (as percent)		4.06%