From GlobeNewswire: 2024-11-08 08:30:00

AMC Networks reported financial results for Q3 2024, with $293 million in free cash flow year to date. The company renewed key partnerships, launched shows on Netflix, and expanded FAST channels on Amazon. Operating income was $94 million, net revenues were $600 million, and streaming revenues increased by 7% to $152 million.

Domestic operations saw subscription revenues decrease by 5%, while streaming revenues increased by 7%. Streaming subscribers grew to 11.8 million. Affiliate revenues declined by 13%, and content licensing revenues increased by 31%. Adjusted operating income decreased by 19% to $150 million.

International revenues decreased by 24%, driven by the divestment of 25/7 Media. Subscription revenues decreased by 14%, while advertising revenues increased by 16%. Operating income increased by 9% to $9 million. Adjusted operating income increased by 4% to $14 million.

AMC Networks acquired the remaining 50.1% of BBC America, closed a transaction with BBC Studios, and paid off $8.1 million of borrowings under the Term Loan A Facility. The company has authorized a stock repurchase program of up to $1.5 billion. As of November 1, 2024, the company had 32,636,371 shares of Class A Common Stock and 11,484,408 shares of Class B Common Stock outstanding.



Read more at GlobeNewswire:: AMC Networks Inc. Reports Third Quarter 2024 Results