LIONSGATE NAMES MINDSHARE AS MEDIA BUYING AGENCY
Firm to Represent Media Planning and Buying for Films from
Lionsgate and Summit Entertainment Labels
SANTA MONICA, CA February 19, 2013 – In a move to generate significant cost savings by consolidating media buying for its Lionsgate and Summit Entertainment film labels in a single agency, Lionsgate (NYSE: LGF) has selected Mindshare as its media planning and buying agency of record, it was announced today by Lionsgate Motion Picture Group Co-Chairmen Rob Friedman and Patrick Wachsberger. Mindshare’s office in Santa Monica, CA, will handle media planning and buying activities for theatrical features as well as all home entertainment releases by Lionsgate, Summit, Roadside Attractions and Pantelion Films.
“By combining our media related services in one company, Lionsgate will immediately see significant savings which will impact the studio’s bottom line, achieve economies of scale that can be leveraged across our feature film entities and allow us additional resources to market and distribute our films in North America,” said Friedman and Wachsberger. “In addition to significant cost savings, this move reflects a fresh strategic approach to media buying for our feature film and home entertainment slates. Mindshare has a great track record in its field and we look forward to ramping up our efforts with them in support of our 2013 slate and beyond. It was a tough decision as all of the candidates in the mix presented great opportunity for us, but in the end Mindshare met the needs of the studio in a manner that we believe will best serve our interests.”
“We’re delighted to partner with Lionsgate and Summit on one of the most commercially exciting feature film slates in the world,” said Mindshare North American CEO Antony Young. “Lionsgate has established a worldwide reputation as an innovator in the kinds of films it releases and the strategies it uses to market and distribute them, and we look forward to developing visionary and cost-effective media planning and buying strategies that reflect the Company’s entrepreneurial and game-changing spirit.”
Lionsgate began its media buying agency review process this past September following the integration of Summit Entertainment into the Lionsgate family. Lionsgate and Summit originally used two different agencies but decided to combine all activities under one agency’s purview to increase efficiencies and cost savings. Three agencies were invited to present their services, including the two incumbents, Initiative Media and Mindshare, and Horizon Media.
Upcoming films from the Company’s slate include Lionsgate’s THE HUNGER GAMES: CATCHING FIRE and TYLER PERRY’S A MADEA’S CHRISTMAS and Summit Entertainment’s RED 2 and ENDER’S GAME.
Mindshare is a global media agency network with billings in excess of US$29.2 billion (source: RECMA). The network consists of 113 offices in 82 countries throughout North America, Latin America, Europe, Middle East, and Asia Pacific, each dedicated to forging competitive marketing advantage for businesses and their brands. Mindshare is part of GroupM, which oversees the media investment management sector for WPP, the world’s leading communications services group.
Lionsgate is a leading global entertainment company with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales. The Company has built a strong television presence in production of primetime cable and broadcast network series, distribution and syndication of programming and an array of channel assets. Lionsgate currently has 26 shows on 19 networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as the multiple Emmy Award-winning Mad Men, Weeds and Nurse Jackie, the new comedy Anger Management, the network series Nashville, the syndication successes Tyler Perry's House of Payne, its spinoff Meet the Browns, For Better Or Worse, The Wendy Williams Show, Are We There Yet? and the upcoming Orange Is The New Black, an original series for Netflix.
Its feature film business has been fueled by such recent successes as the blockbuster first installment of The Hunger Games franchise, the 13th highest-grossing North American release of all time, The Twilight Saga Breaking Dawn – Part 2, which has grossed more than $800 million at the worldwide box office, Warm Bodies, Texas Chainsaw 3D, The Expendables 2, The Possession, Sinister, The Cabin in the Woods, Tyler Perry's Madea's Witness Protection and Arbitrage. With the January 2012 acquisition of Summit Entertainment, the Company has now added the blockbuster Twilight Saga, which has grossed more than $3.3 billion at the worldwide box office, to its current slate, giving the Company the two premier young adult franchises in the world. Recent Summit hits include Red, Letters to Juliet, Knowing, the Step Up franchise and the Academy Award-winning Best Picture, The Hurt Locker.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 15,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
For further information, please contact:
Peter D. Wilkes