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Revenue | 9 Months Ended
--- | ---
Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The Company's Motion Picture and Television Production segments generate revenue principally from the licensing of content in domestic theatrical exhibition, home entertainment (e.g., digital media and packaged media), television, and international marketplaces. The Company's Media Networks segment generates revenue primarily from the distribution of the Company's STARZ premium subscription video services. 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 2).
| 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 | 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 | 404.6 |  |  | 248.4 |  |  | 1,062.5 |  |  | 860.7 |
Media Networks - Programming Revenues |  |  |  |  |  |  |
Domestic(1) | 341.9 |  |  | 346.9 |  |  | 1,030.1 |  |  | 1,032.6 |
International | 2.6 |  |  | 70.3 |  |  | 11.4 |  |  | 182.3 |
| 344.5 |  |  | 417.2 |  |  | 1,041.5 |  |  | 1,214.9 |
Intersegment eliminations | (87.8) |  |  | (133.7) |  |  | (413.5) |  |  | (422.1) |
Total revenues | $ | 970.5 |  |  | $ | 975.1 |  |  | $ | 2,753.8 |  |  | $ | 2,899.1 |
_________ (1)During the quarter ended June 30, 2024, the Company changed the presentation of Media Networks programming revenues to reflect revenues from Canada in the "Domestic" line item above in order to be consistent with how management is now reviewing the Media Networks segment. Revenues from Canada of $4.2 million and $12.7 million, respectively, for the three and nine months ended December 31, 2023 were reclassified to "Domestic" from "International" in the table above to conform to the current period presentation. 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, 2025 |  | Year Ending March 31, |  |  |  |
|  |  | 2026 |  | 2027 |  | Thereafter |  | Total
|  | (Amounts in millions)
Remaining Performance Obligations |  | $ | 652.5 |  |  | $ | 783.7 |  |  | $ | 184.9 |  |  | $ | 139.0 |  |  | $ | 1,760.1 |
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 18 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, 2024
| (Amounts in millions)
Provision for doubtful accounts | $ | 7.2 |  |  |  |  | $ | (0.6) |  |  | $ | 2.5 |  |  | $ | (1.0) |  |  | $ | 8.1 |
______________________ (1)Represents a measurement period adjustment to the provision for doubtful accounts acquired in the acquisition of eOne (see Note 2). 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 18 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 $13.0 million and $148.8 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.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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