Lions Gate Entertainment Corp. (NYSE:LGF) Q3 2019 Earnings Conference Call Transcript
Feb 07, 2019 • 05:00 pm ET
Ladies and gentlemen, thank you for standing by, and welcome to the Lionsgate Fiscal 2019 Third Quarter Earnings Call. (Operator Instructions) As a reminder, the conference is being recorded. And I'll now turn the meeting over to our host, Head of Investor Relations, Mr. James Marsh. Please go ahead, sir.
James Milton Marsh
Great. Thanks, Laurie, and good afternoon, everyone. Thanks for joining us today for the Lionsgate fiscal 2019 third quarter conference call. We'll begin with opening remarks from our CEO, Jon Feltheimer; followed by remarks from our CFO, Jimmy Barge. After their remarks, we'll open the call for your questions.
Also joining us on the call today are Vice Chairman, Michael Burns; Starz COO, Jeff Hirsch; Starz CFO, Scott MacDonald; Lionsgate COO, Brian Goldsmith; Chairman of the Motion Picture Group, Joe Drake; Chairman of the TV Group, Kevin Beggs; COO of the TV Group, Laura Kennedy; and Chief Accounting Officer, Rick Prell.
The matters discussed on this call today include forward-looking statements, including in those regarding the performance of our future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results could differ materially and adversely from those described in the forward-looking statements as a result of various factors, including the risk factors set forth in Lionsgate's most recent annual report on Form 10-K as amended in Lionsgate's most recent quarterly report on Form 10-Q filed with the SEC. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
With that, I'll turn the call over to Jon. Jon?
Thank you, James, and good afternoon, everyone. We just reported a strong quarter with significant free cash flow and a solid earnings performance. Jimmy will drill down on those metrics in his remarks when he talks about our capital structure and lays out our timetable for deleveraging. As we approach the start of the new fiscal year, all signs are pointing towards strong growth across all of our businesses. And as I go through my remarks this afternoon, I'll highlight four key elements of our performance in the quarter.
First, the rapid pace at which we are refilling our feature film and television pipeline. Second, our targeted premium programming at Starz. Combined with the flow of data from our direct-to-consumer business, the strength of our slate continues to reduce churn and drive robust domestic over-the-top subscriber growth and our disciplined international expansion.
Third, our recent momentum in bringing our Lionsgate and Starz assets together, and taking our Company to the next level as we begin to achieve the multiplier effect we've always envisioned for our content, talent and partners. And finally, the steps we've taken to rightsize our business, simplify our organization and streamline our infrastructure as part of our commitment to invest more money in content, not overhead.
Today, I'll take you through some examples of how all the pieces are fitting together as we continue to combine our