Unexpectedly? James Media lost $28 million last year: and $17 million the year before

On December 3, Beijing time, according to Bloomberg, Lakers star LeBron James' SpringHill Media Company had sales of $104 million last year (2023) and a loss of $28 million. SpringHill also lost $17 million in 2022 and expects to lose millions more in 2024.

SpringHill recently agreed to merge with Fulwell 73, the British production company behind the Kardashians and the Grammys, in a deal that will give the combined company a much larger scale in a challenging business environment.

James co-founded the media company with business partner Maverick Carter, who is responsible for the day-to-day business. SpringHill produces movies and TV shows, runs a marketing company, sells clothing, and founded Uninterrupted, which produces their talk show, The Shop.

James' involvement helped the company raise $15 million from Warner Bros. in 2015. In 2020, the duo raised $100 million from investors such as the Guggenheim Partnership and Elizabeth Murdoch. A year later, they added RedBird, Nike, and Boston Red Sox owners to the investor group, valuing the company at $725 million. At the time, the company had sales of less than $80 million and was in the red.

So far this season, the soon-to-be-40-year-old James has averaged 22.6 points, 8.1 rebounds and 9.4 assists per game, shooting 49.3% from the field, 35.7% from three-point range and 75.8% from the free throw line. The Lakers are 12-8 and are in sixth place in the West.