From GlobeNewswire: 2025-02-14 07:00:00

AMC Networks reported financial results for Q4 and full year 2024, with revenues of $599 million for Q4 and $2.42 billion for the year. The company achieved its full-year guidance, generating free cash flow of $331 million. Streaming revenues increased by 7% to $603 million, with 12.4 million subscribers.

The company completed significant affiliate renewals in 2024, signed multi-year agreements with major platforms like Charter, Cox, and Verizon. They also expanded their FAST channels business to 19 in total. Additionally, they introduced AMCN Outcomes, a new performance product in advertising.

For the full year, AMC Networks had net revenues of $2.42 billion, with an operating loss of $40 million. Adjusted operating income was $563 million, with a margin of 23%. Diluted EPS was $(5.10), while adjusted EPS was $3.86. In Q4, net revenues were $599 million, with an operating loss of $254 million and an adjusted operating income of $129 million.

In the domestic operations segment, revenues decreased by 9% to $2.11 billion for the full year. Subscription revenues fell by 5%, while streaming revenues increased by 7%. Advertising revenues declined by 11%. For Q4, domestic operations’ revenues dropped by 11% to $520 million, with a subscription revenue decrease of 4% and a streaming revenue increase of 8%.

In the international segment, revenues decreased by 20% to $325 million for the full year, with subscription revenues down by 11%. Advertising revenues increased by 41%. For Q4, international revenues decreased by 14% to $86 million, with a subscription revenue decrease of 5% and an advertising revenue increase of 43%.

The company reported impairment and other charges of $399.5 million for the year, primarily due to goodwill impairments. They also recorded restructuring and other related charges of $49.5 million, including content impairments and severance costs. Additionally, the board authorized a stock repurchase program of up to $1.5 billion.

Adjusted operating income and free cash flow are key indicators for the company’s performance. Adjusted EPS was $0.64 for Q4, and $3.86 for the full year 2024. AMC Networks remains committed to delivering high-quality content and expanding its audience reach through innovative partnerships and targeted offerings.



Read more at GlobeNewswire:: AMC Networks Inc. Reports Fourth Quarter and Full Year 2024