AMC Networks: 300,000 Streaming Subscribers Lost As U.S. Ad Sales Drop 20% In Q1

May 9, 2023
AMC Networks: 300,000 Streaming Subscribers Lost

AMC Networks has reported a significant setback as it lost 300,000 subscribers across its streaming services in the first quarter of this year.

The company’s subscriber base fell from 11.8 million at the end of 2022 to 11.5 million by March 31, according to the recently released earnings results.

Join our WhatsApp Channel

This decline follows a modest increase of 700,000 paid streaming customers between the third and fourth quarters of the previous year.

AMC Networks’ streaming platforms encompass a range of services, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE, in addition to its linear channels such as AMC, BBC America, IFC, SundanceTV, WE tv, and IFC Films.

The Network had previously set a target of reaching 20-25 million streaming subscribers by 2025, expecting to achieve half of that goal by the end of this year, as stated in their guidance.

READ ALSO:5 Must-Visit Tourist Attractions in Nigeria

In addition to the subscriber loss, the company also experienced a 20% decline in U.S. ad sales during the first quarter. However, AMC Networks managed to surpass expectations for the quarter in terms of both revenue and earnings.

While domestic operations revenue increased by 1% compared to the previous Q1, content licensing saw a substantial growth of 69%, and subscription revenue rose by 1%. Streaming revenue witnessed an impressive 29% increase, although affiliate sales dropped by 11.7%.

Meanwhile, the “International and Other” segment, which includes AMC Networks International and 25/7 Media, reported a 2% decrease in revenue. Distribution and other revenues grew by 2%, while ad sales declined by 17%.

AMC Networks’ adjusted earnings per share (EPS) came in at $2.62, exceeding Wall Street’s forecast of $1.87. Revenue for the quarter reached $717 million, representing a 0.7% year-over-year increase.

CEO Kristin Dolan acknowledged the evolving consumption patterns and emphasized the company’s commitment to making its content accessible across various distribution channels.

Dolan highlighted cost reduction and organizational streamlining efforts, which contributed to strong margins and increased streaming revenue in the first quarter. She further emphasized the company’s focus on overall profitability, maintaining a strong balance sheet, generating free cash flow, and maximizing shareholder value.

AMC Networks’ stock closed at $15.28 per share on Monday, and the company’s executives will discuss the quarter’s performance in detail during a conference call scheduled for 8:30 a.m. ET.

Somto Bisina
+ posts
5 Must-Visit Tourist Attractions in Nigeria
Previous Story

5 Must-Visit Tourist Attractions in Nigeria

Appeal Court Affirms Adeleke As Osun Gov, Sets Aside Tribunal Judgement
Next Story

Breaking: Supreme Court Affirms Adeleke’s Guber Victory

Latest from Entertainment

How To Vote For AFRIMA 2025

How To Vote For AFRIMA 2025

The countdown to AFRIMA 2025 has officially begun as the All Africa Music Awards announced that its online voting platform will go live on September 10, 2025. Fans across Africa and beyond will finally get the chance to decide this year’s winners

Full AFRIMA 2025 Nominations List: Davido, Burna Boy Lead List

The wait is over! The African Music Awards (AFRIMA) 2025 nominees list has been officially released, igniting excitement across the continent. In early July, Morocco, Congo, and Kenya joined the AFRIMA jury as submissions closed, while President Bola Tinubu backed AFRIMA and
Court Orders Mohbad’s Wife To Run DNA On Their Son

Court Orders Mohbad’s Wife To Run DNA On Their Son

A Lagos State Magistrate Court sitting in Ikorodu, on Tuesday, September 2, 2025, ordered a DNA test for Mohbad’s son Liam. Magistrate Adefisoye Sonuga issued the order while ruling on an application filed by the singer’s father who is still seeking to

Cardi B Wins $24 Million Civil Assault Trial

Grammy-winning rapper Cardi B has been cleared in a $24 million civil assault lawsuit filed by a former security guard, Emani Ellis. The case stemmed from allegations that the WAP hitmaker physically attacked Ellis and used racial slurs inside a Beverly Hills
5 Must-Visit Tourist Attractions in Nigeria
Previous Story

5 Must-Visit Tourist Attractions in Nigeria

Appeal Court Affirms Adeleke As Osun Gov, Sets Aside Tribunal Judgement
Next Story

Breaking: Supreme Court Affirms Adeleke’s Guber Victory

Don't Miss

How to Make Payment on AliExpress from Nigeria in 2023

AliExpress, a popular online marketplace, connects buyers and sellers worldwide,

UCL: Chelsea Manager Potter Expresses Concern On Fofana’s Injury Versus AC Milan

Chelsea manager Graham Potter faced the media in his post