AMC Networks' streaming revenue increases by 12% during Q2, but U.S. advertisement sales decrease by 18% in the same period.
In the second quarter of 2025, AMC Networks, the American media company known for its U.S. cable channels like AMC, BBC America, and IFC, experienced a growth in its streaming business.
The streaming revenue for AMC Networks rose by 12%, reaching $169 million, while the number of U.S. streaming subscribers increased by 2% to 10.4 million. This growth is largely attributed to price hikes across AMC Networks’ streaming services, indicating successful monetization per subscriber.
However, the company's overall net revenue declined by 4% to $600 million, primarily due to decreases in advertising revenue (down 18% to $123 million) and affiliate revenue (down 12%). Adjusted earnings per share also dropped to 69 cents from $1.24 a year earlier, though still beating analyst expectations.
CEO Kristin Dolan stated, "We are executing our clear strategic plan focused on programming, partnerships, and profitability." The company is balancing these trends by expanding content licensing, free ad-supported streaming TV (FAST) channels, and bundled offerings, supporting profitability and cash flow.
AMC Networks has a suite of streaming platforms, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. The company is leveraging streaming bundles on platforms like Amazon Prime Video Channels, offering bundles combining AMC+ with other services such as Acorn TV and MGM+.
In addition, AMC Networks is expanding its FAST channels, launching 11 new channels on TCLtv+ and adding channels like Acorn TV Mysteries. The company is also committed to popular franchises such as The Walking Dead, renewing multiple series to sustain viewer engagement.
Despite the growth in streaming, AMC Networks International's sales decreased 16% to $76 million, and subscription revenue for AMC Networks International decreased 5% to $47 million. The domestic operations revenue of AMC Networks dipped 2% in Q2 to $527 million.
AMC Networks is increasing its free cash flow outlook for 2025 and now expects approximately $250 million of free cash flow for the full year. Wall Street forecast earnings per share (EPS) of 61 cents on $583 million in revenue, but AMC Networks reported adjusted EPS of 69 cents on $600 million in revenue.
In summary, AMC Networks is capitalizing on price increases to boost streaming revenues while growing its paying subscriber base modestly. However, overall revenue pressures persist from declines in advertising and affiliate revenues. The company is balancing these trends by expanding content licensing, FAST channels, and bundled offerings, supporting profitability and cash flow.
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- AMC Networks' focus on technology, particularly streaming, has played a significant role in its business growth, as shown by the 12% increase in streaming revenue to $169 million.
- To further strengthen its financial standing, AMC Networks is leveraging technology by expanding its offerings, including content licensing, free ad-supported streaming TV (FAST) channels, and bundled services on platforms like Amazon Prime Video Channels.
