LeBron James’ The SpringHill Company Lost Almost $30M In 2023

A recent report reveals that LeBron James’ media outfit, The SpringHill Company has taken a sharp loss to the tune of nearly $30 million last year. The current pace has the entity losing millions this calendar year as well.

According to Bloomberg, the company that LeBron co-owns with business partner Maverick Carter has reportedly never posted a profit since it launched in 2020. The company has lost $17 million in 2022 and $28 million in 2023. The anticipation is that the streak of losing money will continue by the time 2024 ends.

“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, who operates as the chief executive officer of SpringHill said via email. He did add that the company is expected to exceed projections this year.

Once LeBron started operating outside of the sports world and entered into the media world, the company, which is named after the apartment complex where LeBron grew up in Akron, Ohio was born.

Before the launch of the media company, LeBron and Carter had their UNINTERRUPTED brand. The company produced the talk show, “The Shop” and other productions (television shows and films), some featuring athletes from a variety of sports. They also sold clothing, and merchandise and ran a marketing arm. Those are now under the umbrella of The SpringHill Company.

“Space Jam” and the Netflix docuseries “Starting 5” were produced under the production arm of the company. While LeBron is still on the basketball court trying to win another championship and extend his Hall of Fame career, Carter makes sure that this business is being run until his partner drops the basketball forever.

“We built this business with LeBron, not around him,” Carter said. He did state that LeBron “remains deeply engaged in driving the vision and mission he helped shape, focusing more actively on certain passion projects.”