AMC Networks Sees Q3 Ad Revenue Drop, But Streaming Subs Show Growth
AMC Networks reported an 18% drop in third-quarter U.S. advertising revenue, but saw growth in streaming subscribers after two quarters of decline. The company lowered its full-year revenue target due to softness in content licensing revenues and a difficult advertising environment. AMC Networks also completed a restructuring plan to achieve cost reductions and launched an ad-supported version of AMC+. The company's CEO highlighted their focus on high-quality programming, strong partnerships, and profitability, and expressed interest in future collaborations with other programmers. Despite the challenges, AMC Networks remains committed to managing the business responsibly and leveraging their core strengths to reach viewers across platforms.