MGM Studios Projects 40% Earnings Drop Amid Epix Now Launch

  • Variety
MGM announced this week that it expects a 40% decline in earnings in 2019 as it invests in its Epix Now streaming service.

The company said in February that it would launch Epix Now at $5.99 per month, joining other premium channels that have already rolled out over-the-top services. In order to attract subscribers, Epix is rolling out a slate of original programming to accompany its traditional movie offerings.

MGM co-founded Epix with Viacom and Lionsgate in 2008, and bought out the other two partners in a $1 billion deal in 2017. In an earnings call on Tuesday, MGM executives said Epix is projected to lose $50 million to $70 million this year as MGM invests in content to grow the service.

The delay of “Bond 25” to April 2020 has also put a damper on this year’s projections. The next installment of the Bond franchise was initially set to debut in November 2019, but was pushed back when
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