AMC Networks Ends Q2 With 10.8M Streaming Subscribers – Deadline

AMC Networks Streaming subscribers increased 46% to 10.8 million in the June quarter from 7.4 million, partly due to the launch of the AMC+ premium streaming bundle in Spain. The company said it is on track to reach its long-term subscriber target of 20 million to He 25 million streaming subscribers by 2025.

Streaming revenue increased by 20%. His portfolio spans AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and his anime-focused HIDIVE.

The parent company of AMC, BBC AMERICA (a JV with BBC Studios), IFC, SundanceTV, WE tv, IFC Films and AMC Studios said total revenue fell 4% to $738 million. Of that, advertising revenue was down 5% to $202 million. This was due to lower linear ratings, partially offset by year-over-year growth in impressions, pricing and digital for AMC Originals.

Streaming growth exceeded expectations, but earnings were missed as stocks trended lower in pre-market trading.

Net income soared from $35.4 million to $83.4 million. This was due to his $143 million impairment charge related to his one-time payment of a litigation-related settlement in the prior-year period.

AMC interim CEO Matt Blank plans to hand the reins to Christina Spade, saying:

Domestic sales decreased 3% to $621 million.

Distribution and other income decreased 2% to $419 million. Subscription revenue increased 1%, with higher streaming revenue driven by strong subscriber growth and higher contractual affiliate rates for our streaming services, partially offset by a decline in the linear subscriber universe.

International revenue was down 9% to $126 million, while advertising revenue was down 16% and 7% at constant currencies.

AMC Networks Ends Q2 With 10.8M Streaming Subscribers – Deadline

Source link AMC Networks Ends Q2 With 10.8M Streaming Subscribers – Deadline

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