What happened Shares of Lionsgate (NYSE: LGF.A) (NYSE: LGF.B) jumped as much as 12.5% in trading on Friday after reporting second-quarter fiscal 2021 results. At 3:10 p.m. EDT shares were holding up 11.2% and look like they'll end the week on a very positive note. So what Quarterly revenue fell from $983.5 million a year ago to $745.0 million, and net loss was $18.4 million, or $0.08 per share, as movies were all but shut down. And results even fell below the $760.4 million in revenue and $0.03 loss that analysts expected. Image source: Getty Images. What was particularly encouraging was the 2.3 million global over-the-top subscribers added to the company's network, reaching 13.7 million in the quarter. STARZ alone added 1.8 million subscribers to 9.2 million, showing some traction in the streaming business. In a world of COVID-19, building that base of customers is more important than any small earnings miss in the quarter. Now what Lionsgate still has an uphill battle against much larger studios and streaming networks, but it's making some progress. Building a streaming service that can generate consistent revenue will be a big win even when we can return to theaters again. But long term, I worry that consumer-discretionary stocks like this will go through ebbs and flows as consumer media preferences change. That's what'll keep me out of the stock until we know that the streaming business is big enough to be a force in the future of media. 10 stocks we like better than Lions Gate Entertainment Corporation Class AWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lions Gate Entertainment Corporation Class A wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool recommends Lions Gate Entertainment Class A and Lions Gate Entertainment Class B. The Motley Fool has a disclosure policy.Source