News
Top News

AMC Networks Ends Q2 With 10.8M Streaming Subscribers, Ad Revenue Dips

AMC Networks Ends Q2 With 10.8M Streaming Subscribers, Ad Revenue Dips

AMC Networks said streaming subscribers jumped 46 to 10.8 million in the June quarter, up from 7.4 million, driven in part by the AMC+ premium streaming bundle launch in Spain. The company said it’s on track to achieve long-term subscriber goal of 20 million to 25 million streaming subscribers by 2025.

Streaming revenue was up 20. The portfolio spans AMC+, Acorn TV, Shudder, Sundance Now, Allblk and anime-focused Hidive.

The parent of AMC, BBC America (Jv with BBC Studios), IFC, SundanceTV, We tv, IFC Films and AMC Studios said total revenues fell 4 to 738 million. Of that, advertising sales were down 5 to 202 million due to lower linear ratings, partially offset by higher year-over-year AMC Originals impressions, pricing, and digital growth.

Streaming growth beat expectations, but revenue was a miss, with the stock trending lower in pre-market trading.

Net income of 83.4 million was up sharply from 35.4 million as the prior-year quarter was hit by impairment charges of 143 million

See full article on Deadline