AMC Networks Crosses 11 Million Paid Streaming Subscribers in Q3 as U.S. Ad Sales Drop
According to AMC Networks’ previously given guidance, the company anticipates getting halfway to its larger goal of having 20 million to 25 million streaming subs in 2025 by the end of this year.
In the “International and Other” segment, which includes AMC Networks International, its international programming business, and 25/7 Media, its production services business, revenue fell 24%. Distribution and “other” revenues were down 22%, while ad sales dropped 31%. The company attributes its lower-than-predicted net revenue figure, which is down 16% from Q3 of 2021, to the timing of content licensing deals, lower affiliate and ad sales during the quarter and international currency valuation, but partially offset by 41% streaming revenue growth.
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