AMC Networks reported declines throughout the corporate within the first quarter, citing “continued income headwinds in our linear enterprise” as outcomes fell wanting Wall Road expectations.
Complete income fell 7% from the year-ago interval, settling at $555.2 million, whereas adjusted earnings per share got here in at 52 cents, lower than half the quantity within the 2024 quarter.
The corporate’s total streaming subscriber depend was 10.2 million on the finish of the quarter, flat from the identical interval a 12 months in the past and down barely from the ten.4 million within the earlier quarter. AMC Networks has modified the way in which it tabulates streaming subscribers, opting to not embody subscribers who are available in through pay-TV or broadband bundles, just like the Constitution Spectrum settlement that took impact in March.
AMC Networks stated its streaming revamp, and the ensuing downturn in subscribers, displays an ongoing give attention to higher-quality clients. Retention and viewing hours per subscriber are each exhibiting enchancment.
Promoting and affiliate income, the 2 bedrocks of conventional cable TV, each posted double-digit declines. Linear rankings declines brought about promoting to drop 15% from a 12 months in the past to $119 million. The affiliate line was off 12% to $156 million, which the corporate blamed totally on fundamental subscriber declines but in addition on contractual price decreases in reference to renewals.
Content material licensing income decreased 13% to $54 million. The corporate attributed the drop to “the provision of deliveries within the interval,” noting robust comparisons with the primary quarter of 2024, when there was a lift from the sale of rights to Killing Eve.
Shares in AMC Networks have slumped 37% in 2025 so far, coming into Friday buying and selling at $6.19, close to all-time lows.
