What's Happening?
Lionsgate Motion Picture Group's marketing president JP Richards and co-president Keri Moore are leaving the company, effective immediately. This decision was announced on Monday afternoon, and their roles will not be filled immediately. Instead, the group's Executive Vice Presidents, Amanda Kozlowski, Jack Teed, and Nasim Cambron, will lead global campaigns, with Lionsgate MPG chair Adam Fogelson taking a more active role in overseeing the department. This change follows the recent promotion of Erin Westerman to president of the Motion Picture Group, replacing Nathan Kahane. Fogelson stated that the company is re-approaching its marketing strategy to meet the needs of a rapidly changing market. Richards and Moore were hired in October 2022, replacing Marisa Liston and David Edwards. Their departure comes after Lionsgate experienced mixed results with major releases this summer, including 'Ballerina' and 'Hurry Up Tomorrow'.
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Why It's Important?
The departure of JP Richards and Keri Moore marks a significant shift in Lionsgate's marketing strategy, reflecting the company's adaptation to a changing entertainment landscape. This move could impact Lionsgate's ability to effectively market upcoming films, potentially affecting box office performance. The transition also highlights the challenges faced by film studios in navigating post-pandemic theatrical releases and market fluctuations. As Lionsgate prepares for major releases like 'Good Fortune' and 'The Housemaid', the leadership change may influence the promotional strategies and audience reception of these films. The company's decision to not immediately fill the marketing roles suggests a period of strategic reassessment, which could lead to innovative marketing approaches.
What's Next?
Lionsgate's interim marketing leadership, including Amanda Kozlowski, Jack Teed, and Nasim Cambron, will guide the company's global campaigns. Adam Fogelson's increased involvement may bring new strategic directions. The company is expected to focus on upcoming releases, such as 'Good Fortune' and 'The Housemaid', which could test the effectiveness of the new marketing approach. Additionally, Lionsgate's potential M&A activities, including interest from Legendary, may influence future marketing strategies and partnerships. The industry will be watching how Lionsgate navigates these changes and whether they lead to successful box office outcomes.
Beyond the Headlines
The departure of Richards and Moore may have deeper implications for Lionsgate's corporate culture and strategic direction. Their exit could signal a shift towards more flexible and adaptive marketing strategies, reflecting broader industry trends. The company's decision to not immediately replace them suggests a focus on internal restructuring and innovation. This transition may also affect Lionsgate's relationships with filmmakers and talent, as marketing strategies play a crucial role in film promotion and audience engagement. The evolving landscape of theatrical releases and digital platforms may drive Lionsgate to explore new marketing channels and techniques.
