Uncategorized

LeBron James’ media company ‘lost $30million in 2023’ amid dire predictions for 2024

LeBron James‘ media company SpringHill lost nearly $30million last year and is on pace to lose even more in 2024, according to a new report.

James co-founded the business in 2020 with longtime friend and manager Maverick Carter, and SpringHill has gone on to produce ‘The Shop’ for HBO and a ‘Space Jam’ remake, among other projects.

But as reported in Lucas Shaw’s Bloomberg newsletter, SpringHill lost $28million last year despite sales of $104million.

The company has reportedly never been profitable.

Notably, SpringHill – which is set to merge with British film, TV and music company Fulwell 73 – is said to be planning a round of layoffs to its 250 employees.

LeBron James’ SpringHill Company has yet to turn a profit and is set for a round of layoffs

James co-founded the company with his longtime friend and manager, Maverick Carter (left)

Fulwell is the production company behind ‘The Kardashians’ and the Grammys, and was also involved with Adele’s ‘One Night Only’ live concert.

Bloomberg reported that SpringHill hopes to be turning a profit by the end of next year – following the staff cuts – and added that there will be another $40million of investment as part of the Fulwell agreement.

‘The entertainment market shift in 2022/2023 toward profitability brought rising costs, slower buyer decisions, and impacts from industry strikes, prompting us to recalibrate, including writing off underperforming projects to position ourselves for future growth,’ Carter told Bloomberg via email.

He also said that the company is expected to exceed 2024 predictions.

Notably, James starred in ‘The Shop,’ a sports and culture talk show featuring other celebrities and athletes in a barbershop, while he also was the focus in ‘Space Jam: A New Legacy.’

However, Carter said, ‘We built this business with LeBron, not around him.’

He added that the Lakers star ‘remains deeply engaged in driving the vision and mission he helped shape, focusing more actively on certain passion projects.’

SpringHill is currently co-producing a film starring Mark Wahlberg, as Deadline reported in August.

The movie, called ‘Weekend Warriors,’ will feature a father and autistic son traveling to every NBA arena as the boy decides which team to support.

Related Posts

La Liga de la Justicia de Zack Snyder: Parte 2 (2025)

La Liga de la Justicia de Zack Snyder: Parte 2 (2025) continúa el épico conflicto con Darkseid, tras los eventos de la primera película. Mientras la Tierra se…

Brilliant Nigerian man wins UK Commonwealth scholarship, bags 2 masters degree with distinctions at UK universities

A brilliant Nigerian scholar named Oladimeji Shotunde has achieved an extraordinary academic feat, earning two master’s degrees with distinction in the United Kingdom through fully funded scholarships. In…

Exceptional Nigerian man graduates as Lawyer with double first class grade, wins 18 awards & ₦5million cash prize

An exceptional Nigerian man named Oluwabusayo Ifonlaja has achieved an extraordinary academic feat, graduating with double first-class honors in Law and earning multiple awards for his outstanding performance….

𝗚𝗢𝗗𝗦 𝗢𝗙 𝗘𝗚𝗬𝗣𝗧 𝟮

La paz en Egipto es efímera. Cuando una deidad olvidada emerge de las sombras, ejerciendo un poder más antiguo y oscuro que el mismísimo Ra, el frágil equilibrio…

𝗥𝗘𝗗 𝗢𝗡𝗘 𝟮

La aventura navideña está lejos de terminar. En Red One 2 (2026), la saga de acción navideña más épica continúa con batallas más grandes, acrobacias más locas y…

Drive 2 (2025)

Los motores rugen con más fuerza que nunca en Driven 2, la trepidante secuela que desborda adrenalina con pasión. Vin Diesel y Sylvester Stallone protagonizan este trepidante drama…

Leave a Reply

Your email address will not be published. Required fields are marked *