AMC Networks Adds 600,000 Q4 Streaming Subs, Ending 2024 With 12.4 Million
Streaming revenue in the quarter increased 8% to $156 million, from $144.5 million, driven by year-over-year subscriber growth and price increases. For the fiscal year, streaming revenue increased 7% to $603 million, from $563.5 million.
In the year, AMC signed a multiyear renewal with Prime Video Channels for the global distribution of its portfolio of streaming services.
When including linear television, subscription revenue decreased 4% to $314 million, from $301.9 million due to declines in the linear subscriber universe, partially offset by streaming revenue growth.
Content licensing revenue decreased 30% to $67 million, from $95.7 million due to availability of deliveries in the period. For the fiscal year, content licensing revenue decreased 19% to $277 million, from $342 million due to availability of deliveries in the period.
The prior period included $56 million of revenue related to deliveries of “Silo,” an AMC Studios produced series for Apple TV+, and $20 million of revenue related to the return of rights from Hulu. Excluding revenue related to “Silo” and Hulu, content licensing revenue increased 4%.
The company posted an operating loss of $180 million on domestic operations’ revenue of $520 million, which is down 11% from revenue of $591 million the prior year.
CEO Kristin Dolan said the company is upbeat on the 2025 content slate of original programming, which includes “Anne Rice’s Mayfair Witches,” “Dark Winds,” “The Walking Dead: Dead City,” “The Walking Dead: Daryl Dixon,” and the new series “Anne Rice’s The Talamasca” and “Nautilus,” among others.
“We forged and expanded innovative partnerships that are helping to drive our company forward amidst a period of change that is challenging all media companies,” Dolan said in a statement. “In addition, we continued by delivering distinctive shows and films across our own targeted offerings, as well as an array of partner platforms, and to expand our targeting capabilities to differentiate our advertising business.”
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