Lionsgate Studios Corp.

Good day and welcome to the Lionsgate second quarter 2026 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star and then two. Please note this event is being recorded. I would now like to turn the conference over to Neelay Shah, head of investor relations. Please go ahead.

Good afternoon. Thank you for joining us for the Lionsgate Studios Corporation's fiscal 2026 second quarter conference call. We'll begin with open remarks from our CEO, John Feldheimer, followed by remarks from our CFO, Jimmy Barge. After their remarks, we'll open the call for questions. Also joining us on the call today are Vice Chairman Michael Burns, COO Brian Goldsmith, Chairman of the TV Group Kevin Beggs, Chairman of the Motion Picture Group Adam Fogelson, President of Worldwide TV and Digital Distribution Jim Packer, and Senior Advisor to the Office of the CEO at Lionsgate and Co-CEO of 3Arts Brian Weinstein. The matters discussed on the call also include forward-looking statements, including those regarding the performance of 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. This includes the risk factors set forth in our public filings for Lionsgate Studios Corp. 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. I'll now turn the call over to John.

Thank you, Neelay, and good afternoon, everyone. Thank you for joining us. We reported a quarter in line with our financial expectations and with all signs pointing to significant growth over the next two quarters and through fiscal 27. We're pleased to report that our trailing 12-month library revenue reached a billion dollars for the first time, a record performance that highlights not only the value of our library, but our entire portfolio of intellectual property. During the quarter, we continued to invest in that portfolio by preparing our tent poles for fiscal 27 and beyond, wrapping production on Michael while shooting The Hunger Games and two Resurrection films. This morning, we dropped our first Michael trailer to kick off the marketing campaign for what we believe will be a true motion picture event in April. This week, we announced a multifaceted deal with Millennium to acquire all future film and television rights to the Expendables franchise and worldwide distribution rights to the next Rambo movie, starring the recruits Noah Centineo and directed by Sisu's Yomare Hellender. We will also be the lead studio on all future Rambo TV series. Next week, I will be in London for the launch of the first ever Hunger Games stage play. Early ticket sales have been so strong that the play has already been extended to October 2026, kicking off a roster of Lionsgate stage plays that includes La La Land, Dirty Dancing, Wonder, and Silver Linings Playbook. In a difficult operating environment, our television business has scored three wins in a row with the studio, winner of a record 13 Emmys including Best Comedy, The breakout hit The Hunting Wives for Netflix, and most recently The Rainmaker. Three different types of shows on three different kinds of platforms with three different financial models. All three have been renewed for second seasons. And our three arts talent management and production company continues to have a year of strong growth and diversification. Last quarter, 3Arts expanded into sports with the acquisition of ANA Management, adding world-class athletes like NFL superstar, Travis Kelsey, to the newly rebranded 3Arts Sports. This quarter, they built on that momentum by hiring leading sports manager and entrepreneur, Shea Olashebican, who has already brought aboard NFL star, Miles Garrett, as 3Arts continues to build a top-tier sports talent management business. Turning to our motion picture group, from Now You See Me through Resurrection, we've put together a film slate primed to deliver strong growth over the next 18 months. We have three major holiday season releases with excitement building for the return of Now You See Me's Four Horsemen, opening next Friday. Paul Feig's thriller, The Housemaid, starring Sidney Sweeney and Amanda Seyfried, and based on the first novel of the best-selling Housemaid trilogy, is generating strong buzz ahead of its December 19th release. and rounding out an active two months, we're pleased to extend our collaboration with one of the greatest filmmakers of our generation with the December 5th release of Quentin Tarantino's Kill Bill The Whole Bloody Affair, presenting the entire Kill Bill epic as a single combined film in theaters nationwide for the first time. Speaking of classic theatrical releases, we partnered with Fathom to release the five Twilight movies in theaters last week to celebrate the 20th anniversary of the first Twilight novel. It was one of Fathom's top re-releases of the year, with the first Twilight film opening at number two at the box office out of all releases, 17 years after its debut. Our three tent poles in fiscal 27, Michael this coming April, The Hunger Games in November, and the first Resurrection movie in March 2027, followed by the second Resurrection film to kick off fiscal 28, give us added visibility into our slate in an unpredictable box office environment. Beyond these tent poles, we continue to develop many of our signature properties. Saw, Blair Witch, American Psycho, Monopoly, Naruto, based on the blockbuster manga property, and new films from the John Wick universe. In television, our go-forward slate has a strong cadence as we secured key renewals for Ghosts, The Rookie, The Studio, The Hunting Wives, and The Rainmaker, with an anticipated doubling of scripted series deliveries from fiscal 26 to fiscal 27. And we continue to refill our pipeline with strong new shows like Robin Hood, which debuted on MGM Plus last weekend, Spartacus, House of Asher, which just dropped its first trailer ahead of its December 5th debut, bringing back one of Starz's most successful brands, and the adult animated Twilight TV adaptation, Midnight Sun, which is being readied for production at Netflix. The new season of Power Book 4 Force returns tomorrow on Starz with Power Origins, the next installment of a franchise that has already generated three hit spinoffs, launching next year. In an ultra-competitive environment, we have to work overtime and entrepreneurially for every win. We found the right home in Netflix to grow The Hunting Wives, putting together a viral grassroots marketing campaign to propel it to six weeks in Netflix's US Top 10, and renegotiated our international licensing deals to pave the way for a second season Netflix renewal. We partnered with Blumhouse and Shot the Rainmaker in Ireland to create a winning financial model for our network partner at USA. And we continue to grow the Long Tail of Older series with deals in new and traditional markets alike, securing a third cycle syndication sale for Mad Men, testing a traditional broadcast syndication rollout for Ghosts in 14 markets, and exploring opportunities to repurpose several of our classic series for the microdrama market. It's important to note that the value of our continued investment in scripted television, playing the long game in order to retain rights, is becoming more and more evident with the percentage of our library revenues from television doubling over the past 10 years. Operationally, in September we made the difficult but necessary decision to reduce our headcount by approximately 5%, bringing overall headcount reduction over the past 18 months to more than 20% as we continue to align our business with the reality of a changing marketplace. On the technology front, we continue to find exciting new use cases as we apply AI to more areas of our business, increasing our productivity, generating cost savings, and expanding our creative toolkit. But we're also diligently protecting our content and that of our partners from unauthorized use of AI. Our intellectual property is the core of our business, and it is our prerogative to decide when, where, and how to use it. But we do believe that as long as appropriate guardrails are established, the growing intersection of entertainment and AI will ultimately create significant and mutually beneficial value. In closing, for the past 100 years, the big idea driving the entertainment business has been if you build it, they will come. If you make a movie and you put it in theaters, they will come. If you put television series on three or four broadcast networks, 100 million homes will watch them. Today, as our world expands into new digital and social media platforms, audiences are harder to find, harder to engage, and harder to market to. But they are also consuming more content across more platforms than ever before, offering even more upside to a company like ours that brings to this new environment a massive portfolio of content, a roster of valuable franchises, efficient production models, and an entrepreneurial spirit. Now I'd like to turn things over to Jimmy.