From GlobeNewswire:

AMC Networks Inc. posted their financial results for the fourth quarter and full year of 2023. CEO Kristin Dolan expressed that the company has seen growth in streaming revenue, subscriber base, and free cash flow. Additionally, they have renewed several affiliate deals and launched new original programming. The financial highlights include an operating loss of $11 million and diluted EPS of $(0.50) for the fourth quarter. Over the whole year, the company saw net revenues of $2,712 million and operating income of $388 million. Domestic Operations full year results showed a decrease in revenues, with distribution and other revenues dropping by 11% to $1,683 million. Subscription revenues also decreased by 4% to $1,340 million due to declines in the linear subscriber universe, and affiliate revenues declined by 13%. International and Other full year results saw revenues decline by 9% to $404 million, with subscription revenues decreasing by 1% to $221 million. Content licensing revenues decreased by 25% to $102 million due to a reduction in the volume of productions at 25/7 Media. Fourth quarter results showed a decrease in Domestic Operations’ revenues by 32% from the previous year to $582 million. Affiliates and advertising revenues declined by 16% and 23% respectively, and subscription revenues decreased by 8%. International and Other revenues also decreased by 8% to $100 million. Subscription revenues were maintained at $26 million, while content licensing revenues decreased by 24%. These results demonstrate a challenging year for AMC Networks, with decreases in both Domestic Operations and International and Other revenues.



Read more: AMC Networks Inc. Reports Fourth Quarter and Full Year 2023