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AMC Networks reported a 4% year-over-year drop in income throughout its second quarter earnings for 2025 on Friday. This decline was largely resulting from persevering with declines within the cable ecosystem, however there was a ray of hope. In the course of the quarter, streaming income elevated by 12%, owing to a worth improve from the corporate’s streaming providing, AMC+.
Each home operations revenues and phase adjusted working revenue noticed a decline of two% and 19%, respectively. These declines have been largely resulting from downward traits within the total cable ecosystem. Cable subscription income decreased 1% 12 months or 12 months, coming in at $320 million. The declining cable panorama additionally impacted affiliate and promoting revenues. Affiliate revenues dropped 12% to $151 million, which was additionally partially resulting from contractual price decreases. As for promoting revenues, these dropped 18% to $123 million due to each the cable panorama and decrease market pricing.
That’s the unhealthy information. The excellent news is that an AMC+ worth hike led to streaming revenues rising 12% to $169 million. Content material licensing was additionally up 26% to $84 million, which mirrored the sale of the corporate’s music catalog in addition to government producer charges linked to Apple TV+’s “Silo.” AMC additionally noticed a 25% improve in digital commitments after the 2025 promoting upfronts
The corporate additionally noticed what CEO Kristin Dolan dubbed “continued wholesome free money move era.” Free money move got here in at $96 million, a 0.6% 12 months over 12 months improve. Due to the corporate’s free money move in addition to its figures in relation to streaming revenues and content material licensing, AMC Networks elevated its free money move outlook for 2025. Now the corporate expects $250 million of free money move for the total 12 months.
Listed here are the quarter’s key outcomes. It ought to be famous that web revenue grew a lot as a result of the second quarter of 2024 included an asset impairment cost associated to when AMC bought BBC Studios’ remaining stake in BBC America:
Income: $600 million, down 4% 12 months over 12 months and in comparison with $555 million predicted by analysts at Yahoo Finance.
Web Revenue Attributable to Stockholders: $50 million, up 272% 12 months over 12 months for the second quarter.
Earnings per Share: $0.69, down 44% 12 months over 12 months for the second quarter and in comparison with $0.61 predicted by analysts at Yahoo Finance.
Subscribers: 10.4 million, the identical quantity of subscribers the corporate reported on the finish of 2024 and a 2% 12 months over 12 months improve.
“We’re executing our clear strategic plan centered on programming, partnerships and profitability. We stay dedicated to delivering high-quality and distinctive collection and movies to our engaged followers throughout all platforms, together with the perfect assortment of focused streaming providers on the planet,” Dolan mentioned within the firm’s letter to shareholders.
The second quarter of 2025 additionally noticed AMC broaden additional into the FAST (free ad-supported streaming) house with the launch of 11 channels on TCLtv+. The corporate additionally noticed development in Amazon Prime Video Channels’ streaming bundles, which mixes AMC+ with AcornTV, Discovery+, Starz and MGM+. On the programming facet, Acorn TV’s first-ever “Homicide Thriller Might” drove the most important month ever for the streamer, resulting in what the corporate described as a document engagement, viewership and a multi-year excessive in subscriber acquisition. As for the Eli Craig-directed “Clown in a Cornfield,” what delivered the biggest opening weekend and widest display rely within the firm’s historical past. The title is now out there on Shudder.
Extra to return …
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