LION · CIK 0002052959

What Lionsgate Studios Corp. told the SEC could break it.

1 self-disclosed vulnerability, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.

A limited set so far, we surface every cited disclosure we’ve extracted for LION. More may follow as additional filings are processed.

In its own words

What could break it.

Customer concentration

Two individual customers each >10% of consolidated revenue in FY2026 ($513.4M and $261.1M); one customer = 19.8% of total accounts receivable (~$171.2M)medium
Lionsgate Studios has material customer concentration in its content-licensing revenue. For the year ended March 31, 2026, two individual customers each represented greater than 10% of consolidated revenues, amounting to $513.4 million and $261.1 million respectively (primarily in the Motion Picture and Television Production segments) — up from one >10% customer ($411.1M) in FY2024. At March 31, 2026, a single customer accounted for 19.8% of total consolidated accounts receivable (gross ~$171.2 million). The customers are not named in the disclosure; one large licensing relationship is plausibly tied to the ongoing post-Starz-Separation content-licensing arrangement and/or major streaming/network buyers, but this is not stated. Loss or renegotiation by either >10% customer would materially affect revenue and receivables. A real, quantified customer concentration (customers undisclosed, so captured as a risk rather than an edge).
“individual customers which represented greater than 10% of consolidated revenues, amounting to $ 513.4 million and $ 261.1 million, respectively, primarily related to the Company's Motion Picture and Television Production segments”
SEC filing →As of 2026

The hidden graph

Who it depends on, and who depends on it.

Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.

Its customers

AMC Entertainment Holdings, Inc.
“During the year ended December 31, 2025, films licensed from the Company's seven largest movie studio distributors based on revenues accounted for approximately 83 % of our U.S. admissions revenues, which consisted of Disney, Warner Bros., Universal, Sony, Paramount, 20th Century Studios, and Lionsgate Films.”
Cited →

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What could break it.

Customer concentration

Two individual customers each >10% of consolidated revenue in FY2026 ($513.4M and $261.1M); one customer = 19.8% of total accounts receivable (~$171.2M)medium
Lionsgate Studios has material customer concentration in its content-licensing revenue. For the year ended March 31, 2026, two individual customers each represented greater than 10% of consolidated revenues, amounting to $513.4 million and $261.1 million respectively (primarily in the Motion Picture and Television Production segments) — up from one >10% customer ($411.1M) in FY2024. At March 31, 2026, a single customer accounted for 19.8% of total consolidated accounts receivable (gross ~$171.2 million). The customers are not named in the disclosure; one large licensing relationship is plausibly tied to the ongoing post-Starz-Separation content-licensing arrangement and/or major streaming/network buyers, but this is not stated. Loss or renegotiation by either >10% customer would materially affect revenue and receivables. A real, quantified customer concentration (customers undisclosed, so captured as a risk rather than an edge).
“individual customers which represented greater than 10% of consolidated revenues, amounting to $ 513.4 million and $ 261.1 million, respectively, primarily related to the Company's Motion Picture and Television Production segments”
SEC filing →As of 2026

Who it depends on, and who depends on it.

Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.

Its customers

AMC Entertainment Holdings, Inc.
“During the year ended December 31, 2025, films licensed from the Company's seven largest movie studio distributors based on revenues accounted for approximately 83 % of our U.S. admissions revenues, which consisted of Disney, Warner Bros., Universal, Sony, Paramount, 20th Century Studios, and Lionsgate Films.”
Cited →