when was this film released?
June 15, 1994.
The Lion King
The Lion King" had a limited release in North America on Wednesday, June 15, 1994, playing in only two theaters, El Capitan Theater in Los Angeles and Radio City Music Hall in New York City, and featuring live shows with ticket prices up to $30.

where do the lions in the lion king live Pride Lands.
wiki:8287595
The Lion King [SEP] Release
Audience reaction was enthusiastic, causing Hahn to have some initial concerns as he became afraid of not living up to the expectations raised by the preview. Prior to the film's release, Disney did 11 test screenings. "The Lion King" had a limited release in North America on Wednesday, June 15, 1994, playing in only two theaters, El Capitan Theater in Los Angeles and Radio City Music Hall in New York City, and featuring live shows with ticket prices up to $30. The wide release followed on June 24, 1994, in 2,550 screens. The digital surround sound of the film led many of those theaters to implement Dolby Laboratories' newest sound systems.