AMC Networks Cites Ad Revenue Decline Amid Streaming Subscriber Gains
NEW YORK - AMC Networks reported unchanged U.S. subscription revenue of $316 million for the most recent quarter, as growth in streaming offset declines in affiliate revenue, the company announced Friday. The report comes as the media firm navigates a shift from conventional cable to streaming, a transition led by CEO Kristin Dolan.
The company attributed recent challenges to “linear ratings declines and lower marketplace pricing.” Despite this, AMC networks added streaming subscribers year-over-year, ending the quarter on September 30 with 10.4 million total subscribers-consistent with the 10.4 million reported at the end of June. This figure compares to 10.2 million subscribers as of September 30, 2023.
However, the current subscriber count is down from the 11.8 million reported in the year-ago quarter. The company revised its subscriber calculation methodology earlier this year to reflect only those paying a direct fee for a streaming service,excluding those accessing services through bundled video packages.
Streaming revenue jumped 14 percent to $174 million, “primarily due to the impact of price increases across our services.” AMC Networks previously forecast streaming revenue to become its largest single revenue component this year, anticipating continued quarterly growth.
The company increased its full-year 2025 free cash flow outlook to approximately $250 million, citing “healthy” trends.Original series featured during the third quarter included season 3 of The Walking Dead: Daryl Dixon, The Madame Blanc Mysteries on Acorn TV, Nautilus on AMC, and The Luckiest Man in America and Kidnapped on AMC+.
“Our performance in the third quarter marks a key milestone in our transition from a cable networks buisness to a global streaming and technology focused content company,” said Dolan. “Streaming revenue growth accelerated and will represent our largest single source of domestic revenue this year.” She added, “We have built the components of a modern media business that is nimble, independent and well suited to today’s surroundings and whatever comes next.”