AMC Networks U.S. Ad Sales Fall 10% in Q3 as Streaming Subscribers Tick Up by 200,000 to Reach 11.8 Million

AMC Networks saw U.S. ad sales drop 10% to $133 million in Q3, but a slight increase in streaming subscribers from 11.6 million to 11.8 million. The media company revealed the results in its third-quarter 2024 earnings report Thursday.

AMC Networks’ streaming platforms include AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE. Those digital offerings are in addition to the company’s linear channels: AMC, BBC America, IFC, SundanceTV, WE tv and IFC Films.

Wall Street forecast earnings per share (EPS) of 62 cents on $587.6 million in revenue, according to analyst consensus data provided by LSEG. AMC Networks reported adjusted EPS of 91 cents on $600 million in revenue.

“As we manage this business within a complex and changing environment, we remain focused on our key strategic pillars – programming, partnerships and profitability,” CEO Kristin Dolan said in a letter to shareholders. “During the quarter, we made significant advancements across all three areas. We have generated $293 million of free cash flow year to date and are well on our way to delivering our stated goal of approximately half a billion dollars in cumulative free cash over two years. We also entered into new and enhanced partnerships with major companies like Charter, Netflix, Amazon and others which are driving our company forward as we continue to provide distinctive, high-quality programming to customers across an expanding array of platforms.”

More to come…